[amp_mcq option1=”The total sum insured floats amongst the family members” option2=”Husband\/wife, children and parents\/parents-in-law can be covered” option3=”Both A & B” option4=”None of the three” correct=”option3″]<\/p>\n
The correct answer is: C. Both A & B<\/strong><\/p>\n A family floater policy is a type of life insurance policy that covers all members of a family, with the total sum insured floating amongst the family members. This means that the amount of coverage can be adjusted as needed, depending on the size and needs of the family. For example, if a child is born, the total sum insured can be increased to cover the new member of the family. Or, if a child leaves home to go to college, the total sum insured can be decreased.<\/p>\n Family floater policies are often more affordable than individual life insurance policies, because the risk is spread over multiple people. They can also be more convenient, because there is no need to apply for separate policies for each family member.<\/p>\n However, it is important to note that family floater policies do have some limitations. For example, the total sum insured is usually capped, and there may be restrictions on the types of benefits that are covered. It is important to read the policy carefully before you purchase it to make sure that it meets your needs.<\/p>\n Here is a brief explanation of each option:<\/p>\n [amp_mcq option1=”The total sum insured floats amongst the family members” option2=”Husband\/wife, children and parents\/parents-in-law can be covered” option3=”Both A & B” option4=”None of the three” correct=”option3″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[],"class_list":["post-32150","post","type-post","status-publish","format-standard","hentry","category-insurance","no-featured-image-padding"],"yoast_head":"\n\n