Is it true that family floater health insurance tends to lapse if the first member dies ?

POSTED BY AtanuGupta ON March 31, 2014 8:28 pm COMMENTS (6)

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?

6 replies on this article “Is it true that family floater health insurance tends to lapse if the first member dies ?”

  1. ashalanshu says:

    Dear Atanu, how about asking for the confirmation from your health insurer itself?

    Thanks

    Ashal

  2. AtanuGupta says:

    Is there any IRDA rule regarding this.
    I have search IRDA but unable to find anything concrete. Can you point to any link or so.

  3. AtanuGupta says:

    Dear Nikhil

    Thanks.

    What confirmation you received. Can you please share some info.

  4. Nikhil Verma says:

    Dear Atanu,

    I was also having this query and got the written confirmation from my health insurance company. You can also write to your Health Insurance co. and ask them to confirm in writing. Then you can keep that in your record for future reference to avoid any issue in future.

    Regards,
    Nikhil

  5. AtanuGupta says:

    Thanks.
    What is the rule in this case.
    How the spouse should continue with the policy if the original proposer is no more.

    Please advice

  6. ashalanshu says:

    Dear Atanu, IRDA has plugged this loophole. Now the family can continue the cover, even after the death of the original proposer.

    Thanks

    Ashal

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today