Health insurance policy: Don't include parents in family floater plans

You will end up paying a higher premium. It's best to buy a separate policy for parents

Some companies have started offering family floater health insurance plans that allow individuals to include their parents in the same policy. While such policies offer the convenience of paying a single premium for the entire family, buying a separate family floater policy for parents is more cost-effective. 

An individual should only include parents in a family floater if they are unable to get a separate policy. “If seniors apply for health insurance on their own, their chance of getting a cover is limited, especially if they have pre-existing diseases. In a family floater plan, their chances of getting a cover improve,”