Whether you should opt for individual policies or a joint policy depends on your family’s specific needs. Individual policies allow for personalized coverage, tailored to each person’s health conditions, age, and lifestyle. This can be beneficial if family members have significantly different health profiles, as it ensures everyone gets the best coverage without being penalized for someone else’s medical history. On the other hand, a joint policy (or family floater plan) often comes at a lower premium and covers all members under a single policy. It’s a cost-effective choice if your family members are generally healthy and you prefer a simpler, consolidated plan. However, in a joint policy, a claim made by one member can reduce the coverage available for others. Ultimately, the decision depends on factors like the health of family members, budget, and whether you prefer simplicity or personalized coverage.