Thank you for contacting NRIOL for your Reliance travel insurance requirements. Yes there two types of coverage. One is a family floater coverage where the entire sum insured is shared by 3 travelers. The benefit of buying a family plan is that any of the family member can use the entire sum insured or he /she can use part of the sum insured and the rest can be used by the other 2 insured. Family floater plans are cheaper than individual coverage plans. For example if you buy $50,000 floater coverage, either one of the family member can claim up to $50,000 coverage. In case if one person’s claim amount is $10,000, then they are left with $40,000 sum insured where the other persons can claim or even the first person who has already first claim can have a second claim up to $40,000.
Individual coverage plans are costlier than the family floater plan as each member will get benefit up to the sum insured. It is however not possible to share the sum insured with other insured members of the family in the individual coverage policy.
You can get free quotes and buy the insurance online at Reliance Travel Insurance