Your Queries — Well being Insurance coverage — You may port from group well being plan to household floater from similar insurer
Whether or not paying for a two- or three-year time period makes you eligible for a reduction on premium depends upon the product however generally, there’s a long run low cost obtainable for 2 and three years coverage tenure.
By Prasun Sikdar
My agency has a gaggle well being plan for my household. Can I port that coverage publish retirement and proceed with the identical or a brand new insurance coverage supplier? —Rajeev Pathak As per the rules on Portability and Migration, all group insurance coverage coverage prospects are eligible emigrate right into a retail product supplied by the identical insurer. This migration, nonetheless, could be topic to underwriting. You must method your HR group and set up contact together with your group insurance coverage supplier and procure particulars on the earliest and proceed to remain secured.
We’re a household of 4 lined beneath a person medical insurance plan with highest age member (52 years). Can we convert it right into a household floater plan? —Vibha Gupta That is attainable however topic to the product and underwriting tips of the insurer. Nevertheless, within the present circumstances, the place there’s a probability of the entire household getting contaminated, proceed with the person insurance policies because the protection shall be obtainable for each member.In floater plans the premiums are payable, usually foundation the age of eldest insured member, which the youthful insured might not discover related.
Can I pay premium of three years in one-go? Will I get any low cost on it? —Ok R Srinivas Sure, you’ll be able to pay your medical insurance premium for a three-year time period at one-go offered the insurance coverage firm has that function obtainable of their product. Whether or not paying for a two- or three-year time period makes you eligible for a reduction on premium depends upon the product however generally, there’s a long run low cost obtainable for 2 and three years coverage tenure.
My sister is a single mom and depends on me and my spouse. Can I embody her and her minor daughter in our household floater plan which incorporates my spouse, our two sons and I?
A household floater coverage usually refers to self, partner, two or three dependent children-. You may go for a floater plan the place your sister and her daughter are lined as insured members and your sister could be the proposer. You might also go for multi-individual coverage the place partner, kids, brother and sister, niece and nephew could possibly be lined beneath the identical coverage with particular person sum insured.
The author is MD & CEO, ManipalCigna Well being Insurance coverage. Ship your queries to [email protected]
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