Health Insurance decision

Gurukul 187
Viewed 2310

Should I take individual health insurance policy for myself, spouse and my child or I should go for a family floater health plan covering all of us in a single premium.

Please advise.

I have heard that the family floater health insurance tends to lapse if the first member dies. Now how true is that?

medical-insurance family-floater health-insurance
1 Answers

You should go with family floater policy only, there are definite cost advantages over individual policies.

Insurance policy does not lapse on proposer's death. Other member of policy can write to the insurer, seeking to be the new proposer and the cover will continue as it is.

Pankaj Batra5212

Dear Pankaj,

Many thanks for your reply.

Now is there any kind of IRDA rule for this or every insurance company has its own regulations.

Please advice.

Gurukul•

I think its IRDA rule and insurers cannot modify/deny this.

Pankaj Batra•

I have search IRDA but unable to find anything concrete. Can you point to any link or so.

Thanks in advance

Gurukul•
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