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Background:
Age:
· 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.