Work out family floater sizing instantly with clear inputs, formula shown and shareable results.
A family floater shares one sum insured across all members, so it must be large enough for the worst plausible year rather than the average claim. Sizing scales with the eldest member's age, since premium and claim likelihood are driven by them, and with a concurrency allowance for more than one claim.
Recommended cover
Cover = Base per person x Age factor x Concurrency factor x (1 + Chronic condition loading %)
Concurrency factor
Concurrency = 1 + 0.55 x sqrt(Members - 1)
Indicative estimate only. Fees, entitlements, limits and formulas vary by jurisdiction, statute, policy wording and the facts of the case. This is not legal, tax, insurance or financial advice — confirm with a qualified professional or the relevant authority.
Cheaper, but riskier: one large claim can exhaust the cover for everyone. Elderly parents are usually better insured separately.
Because floater premiums are rated on the oldest insured, and claim frequency and severity rise steeply with age.