According to me its hard to decide which plan is better because each of them having there own plus points. I think both the plans are good on the bases of comparison. It depends on the insurer what kind of policy he is looking for.

This are some plus point of individual

1.Individual medical insurance Policy is a policy where each of the insured members can use the entire amount separately.
2. The policy exts ends to family members like Parents, in-Laws.
3. The Individual medical insurance Policy is great for older families and when the health risk is more.
4.There are no age restrictions on the maximum age for the members for renewable.
5.You can avail the benefits of Loading and Discounts until the policy lapses.

Advantages of Family Floater Plan

1.In family floater policy which covers more than one family member for a fixed cover and the covered is shared by all the family members.
2.It is less expensive than Individual Policy.

3.It is great for younger families with members having low health risk.
4.You can add your immediate family members like your spouse and kids.
5.Another benefit is that in case of only one claim in a year, the family member gets a greater claim amount compared to what he might have on an individual medical cover.

So I think the one who is looking for health insurance policy must clear with all there needs and then go for the right decision.