Reg Health Insurance Family Floater & Top up plans

POSTED BY Prakash Iyenger ON November 14, 2011 1:38 pm COMMENTS (5)

I am 42 Years and have plans to take Health Insurance some time in Nov 2011 and need your inputs for few queries as below:

1. I have an existing coverage for Father aged 71 Yrs coverage at 1.5 Lacs
and Mother aged 65 Yrs coverage at 1.5Lacs;

a. Can you please recommend what is the maximum age coverage available by any insurance company-For a top up plan for them?

b. Also recommend what amount of top up plan is recommended-Additional 3.5 L for each of them?

c. Or Family floater top up plan for say 7 Lacs for both my parents, if such thing is offered?

d. Typically what would be the premium/range?

2. My family[wife, 2 Kids] are covered by 3L+3L+2L+2L=10Lacs;

a. Advise if we decide to take a family floater, what amount should we consider-
Say 5L/ 10L family floater plan would be good?

b. Typically what would be the premium/range?

Appreciate your valuable inputs asap.

5 replies on this article “Reg Health Insurance Family Floater & Top up plans”

  1. says:

    Hey, I think you should check with Max Bupa, one of the best health insurance providers in India. They have health experts who will help you figure a way out. The family floater plans is suitable for you, as it can safeguard the complete family. There is a plan which can cover 13 members of your family at minimal cost. There is no age limit for enrollment. So you can easily string your parents to the same plan you are opting for. Make sure you speak to the sales executive and get clear on your doubts and requirement before you opt for the plan. Hopes, this helps you out!!! Sharing the link for you,

  2. All – While floaters are inexpensive as compared to individual plans I would recommend couples to take individual policies covering just kids. The reason is this: Assuming that down the line the proposer dies in their 50s or 60s – [the spouse will mostly be in the same bracket as the proposer] – it is both difficult and inexpensive for the surviving spouse to take a fresh cover. Hence though a little expensive upfront go for individual policies.

  3. jitendra solanki says:

    The maximum age for taking a general health insurance scheme in most companies is 65 years. For age above 65 there are senior citizen policies which can be considered.
    Both the parents have reached the limit of taking a general scheme.The other option with you is now to buy a senior citizen policy for any additional coverage. National and united insurance cover people in age group 60-80 while star health cover in age group 60-69.However the coverage offered is different for.e.g star health now covers upto Rs 5 lakh while National covers upto R 1 lakh plus R 1 lakh critical illness.Also these policies have certain limitations like you need to bear part of the claim (10-30%).Very soon other companies will also launch similar schemes for higher age group. You can look at these options and then decide.Typically at higher age min R 5 lakh should be the coverage for each individual.Other companies with similar scheme is Bajaj Allianz and New India assurance.

    For your family R 10 lakh family floater is a good coverage.If you want to increase the coverage you can consider additional R 5 lakh family floater.If satisfied with existing company then enhance the cover during renewal.

    1. says:

      Thanks Jitendra for the quick reply.

      1. Are you suggesting that I take new Senior citizen policies for additional coverage of say 3/3.5Lacs?

      2. Is there any option to get Single family floater for both my parents-Then I can take a single family floater Senior citizen policy for my parents for 7Lacs.

      3. For myself & my wife, 2kids: Policy taken 3L+3L+2L+2L respectively;

      a. I had not taken a family floater.
      Probably It would have been better I should taken a family floater policy for Rs10Lacs instead of 3L+3L+2L+2L respectively for all of us.. Isn’t it.

      b. In general a family of 4-It would be just sufficient to have one family floater policy of 10Lacs [Rather than what is already taken by me-3L+3L+2L+2L respectively]

      c. Now what do you recommend:
      Should I take a new family floater for Rs5Lacs?
      Or Cancel the existing 3L+3L+2L+2L policy and take a new family floater policy of 10Lacs?

      Appreciate your recommendation.


      1. jitendra solanki says:

        Dear Prakash,

        1. Yes, at your parents age the options are very limited and senior citizen policy would be the only choice.Senior Citizen schemes is an individual policy and maximum you can take is R 5 lakh.

        2. If you have taken individual policies for your family then it is the best option.We always advise to go for individual in comparison to family floater.To increase the coverage enhance SA in existing policies.You can look at cost of hospitalization in your preferred hospitals and take a decision.However, do not make this the only criteria.

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