I am 35 years (self employed) old with a wife, 2 children, and need to support any parents (both diabetic at age 64 & 61 Years). I am considering buying a health insurance policy to cover the medical expenses of my family. I am considering buying a family floater health plan, which I believe covers the entire family for a low premium. Please advice?

You can consider Oriental Happy Family Floater where all of you will be covered and that too at an attractive premium.

The other option will be to go in for 2 policies
Policy 1 – Parents
Policy 2 – For your family

Our suggestion is that you should go for higher amount for your parents with coverage for diabetics. As far as you are concerned, you will have the opportunity to increase sum assured as the time passes.