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Is It Profitable to Get Health Insurance for the Whole Family?

You might think your family doesn't need health insurance. Still, in today’s stressful world, where we live a hectic lifestyle coupled with unhealthy eating habits, more and more individuals are becoming exposed to different conditions that require medical attention. This is what makes getting health insurance for the whole family very important. 

How important do you think health insurance is for families with children? And is it more profitable than purchasing individual health insurance policies? These and other questions related to family medical insurance will be covered in this guide. 

What is a Family Health Insurance Policy? 

Family health insurance plans, also known as family floater plans, are insurance policies that cover the private medical expenses of you and your family in the UK. It is a convenient and budget-friendly method that covers the entire family under one insurance policy. 

It gives comprehensive medical coverage for all family members under the policy, thus eliminating the need to acquire individual policies for each member. 

What is the Best Medical Insurance For a Family? 

The best medical insurance for a family in the UK is the family floater insurance that covers the expenses of all family members under a single, budget-friendly plan.  

Premier PMI, which is the best medical insurance for families according to research, offers the best health insurance plans for family, giving your family access to extensive private healthcare products and services at the best price. 

Why is Family Health Insurance Profitable?

Family health insurance is a vital investment for every family looking for comprehensive and economical private healthcare options. It has a lot of benefits, making it an essential component, especially for families with children or elderly. Here are some pros of family health insurance: 

Cost Effective and More Affordable 

A family health insurance plan is cost-effective for insuring all family members under one policy. The premium for these plans is far more affordable than what will be paid to insure each family member under a different policy. 

Full Coverage with Ease

Going for a family floater insurance plan allows you to monitor only one premium that covers the entire family instead of overseeing multiple policies for each family member. This ensures financial planning and enables you to make payments on time. Also, every family member has access and can provide comprehensive coverage if you choose an optimal plan.

Each Covered Member Gets High Coverage 

The whole sum insured under the family insurance policy can be used to treat one ill family member. Each family member has a high coverage, especially if you choose an optimal insurance plan. Having the flexibility to use insured funds helps tackle major health issues without using savings reserved for other goals.  

Maternity Coverage Included 

Most family floater insurance covers maternity-related expenses, making it a perfect option for young couples who will be having children in the near future. However, some offer little or no pregnancy benefits, so read the terms and conditions before signing. Choosing a plan with wide maternity coverage makes expanding your family more budget-friendly.  

New Members are Easily Added

Family medical insurance plan offers you the convenience of adding new family members without much hassle. If you have a new family member, you can easily get coverage for them depending on the terms and conditions of the insurance company you're working with. In most cases, you must request your insurer to pay an additional premium, and the new family member will be covered under the policy. 

Peace of Mind

The best thing about family health insurance is the peace of mind that comes with it. Knowing that you have reliable and timely health support for your family at any moment of need keeps your mind at rest. Also, you won't have to follow the long NHS waiting list regarding tests, diagnostics, and treatments.

How Much Does Family Insurance Cost?

For most private health insurance companies, the cost of a family insurance plan depends on factors such as the size of the family, the lifestyle of family members, and the family's medical history. 

Generally, the amount you'll pay for your family health insurance depends on your insurer, your location, what's covered in your policy, and the family member’s current state of health. In most cases, the age of those included in the policy can also affect the premium, often increasing with ageing. 

How Much Is Medical Insurance for a Family of 4? 

The cost of medical insurance for a family of 4 varies across different health insurers in the UK. However, you can expect the premium to be between £130 to £190 per month and about £1530 to £2280 annually. 

How Much Is Medical Insurance for a Family of 5? 

The cost of medical insurance for a family of 5 in the UK starts from  £130 and can be as high as £200+ per month. Your premium generally depends on your insurer, the type of plan you choose, and the age of family members. To compare family insurance costs of popular UK insurers, check


Family health insurance is a profitable option that offers a cost-effective and hassle-free way to cover all family members under one policy. It is more affordable and convenient than individual health policies, giving you peace of mind and quick access to private health care.