Should you avail a Health Insurance from a General Insurer or a Health Insurer? Should you avail an Individual Health Insurance plan if you already have a Family Floater or Group Health Insurance plan? Can you convert an Individual Health Insurance plan into a Family Floater plan?
Want to know more about Health Insurance? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.
Health Insurance plans are offered by both Life and Health Insurance companies. Consider the following before deciding on your insurer:
An individual insurance policy is necessary to cover what group insurance doesn’t offer. Avail an individual health plan in the following cases:
SEE ALSO: Gender Pay In India: Equal Or Unequal
Yes, that is possible. When you convert an individual Health Insurance into a family floater you alone will get benefits of continuity of your Health Insurance, i.e. you can carry forward the benefits of the individual Health Insurance but for others, the family floater is as good as a new policy.
The continuation is limited to your existing sum insured. Anything over and above it will mean an enhancement in sum insured and hence will not attract benefits of continuity.
Also, it is best to think along the lines of what your family’s Health Insurance needs are. If you are newly married, you will have to consider if you need to take a maternity cover for wife or riders or a separate maternity Health Insurance plan altogether.
If you happen to develop a disease during this period, it will not be considered as a pre-existing disease only for your current sum insured. Any increase in the sum insured will attract a higher premium.
Be Wise, Get Rich.
The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.
Subscribe to our Youtube Channel
This is to inform that Suvision Holdings Pvt Ltd ("IndianMoney.com") do not charge any fees/security deposit/advances towards outsourcing any of its activities. All stake holders are cautioned against any such fraud.