Family Floater Health Insurance is a policy that provides coverage for multiple family members under a single plan. The sum insured is shared among all the members, making it a cost-effective option for families who wish to insure their spouse, children, and parents together. It offers convenience and affordable premiums. On the other hand, Individual Health Insurance is designed for a single person, offering a dedicated sum insured and personalized coverage. This type of plan is ideal for individuals who prefer customized health insurance based on their specific needs, with the assurance of higher benefits and comprehensive coverage tailored just for them.