I am 26 years and living in Davangere. My father (56 years)and mother (54 years) are covered under a family floater health insurance plan. They have been paying the premium regularly for the last 8 years. I have my own health insurance plan. Recently, my father has been diagnosed with hypertension and my mother with type 2 diabetes. Should my parents declare these diseases to the insurer? Please advice.
If your parents are renewing the existing health insurance plan without increasing the insurance cover, they do not need to declare their medical status, as these diseases are not pre-existing. If your parents want to increase the sum assured, they must declare these diseases in the insurance proposal form. The insurer will assess your parents’ medical condition and make a decision. 1. The insurer could charge a higher premium for increasing the sum assured. 2. The insurer could increase the sum assured but with the exclusion of pre-existing diseases for a pre-defined period. 3. The insurer could even deny your parents the health insurance coverage.