Health Insurance for my family

POSTED BY kkhanna ON April 24, 2012 2:05 pm COMMENTS (4)




·          Self:34

·          Spouse:34

·          Kid1:5

·          Kid2:0.5

 Medical conditions: Normal

 Company provided insurance for family: 5Lac

Requirement: Looking for personal health insurance. Read a lot but still have few queries and looking for expert opinion from this forum.

Question 1: Which one is better family floater or individual policy for every member? I have read a lot but still can’t conclude

1)          Cons of floater:

a.           The biggest drawback of family floater is if the oldest member is no more, the policy lapses.

2)          Pros of floater:

a.           The cover you get in floater is higher with the same amount.

b.          After becoming independent children can continue their own policy if they an individual policy.         

Question 2: What happens in later age (due to inflation) I want to increase the cover? What are the possible options i.e. with an increment premium can I increase the cover, or the whole premium will be revised?

Question 3: Is it possible to exclude a family member e.g. kids once they become independent?

Question 4: What happens if a claim is filed for a particular disease. I’ve heard that you cannot claim for future occurrences of the same disease?

Question 5: Will it be a good option to buy two family floaters one in my name and other one in wife’s name. So as to avoid the 1.a drawback listed above.

4 replies on this article “Health Insurance for my family”

  1. Dear KK, if you are comfortable with that relatively high prem. but the associated benefits, please go ahead with Apollo Optima Restore. The information provided to you is correct. If you need more clarification on the same, please contact Apollo DKV itself.



  2. Dear KKhanna, had you contacted What was your experience there? Please ask again if you are still in doubt?



    1. kkhanna says:


      Thanks for the reply.

      I contacted medimanage. Here are the bullets:

      * The person whom I talked to “Amit” was impressive. None like policybazaar or other similar sites where they are just hired to make calls and have literally no idea of what they are offering.
      * He suggested Apollo Munich optima restore.
      * The policy is really impressive. Especially with the 50% increase for no-claim year.
      * The only negative is high premium.

      Few questions that he answered but still wanted to confirm from this forum:
      * He mentioned that there is no loading in case of a claim i.e. no increase in premium even after a claim year.
      * If proposer is no more, other major family member can renew the policy and will continue to get the continuity benefit.?
      * Once the minor childeren turn major and would have their own policy, they will continue to get the continuity benefit from this policy?


  3. kkhanna says:

    Any help would be appreciated?

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