As my parents (age 70 plus) do not have any insurance coverage policy, must I contain them in my household floater program or purchase an person program for them? —Jayant Anand A household floater policy commonly refers to self + spouse + two or 3 dependent young children. You will have to opt for a separate household floater program for them exactly where either you or even any of your parents can be the proposer. Alternatively, you might go for a multi-person policy exactly where spouse, young children and parents could be covered beneath the similar policy with person sum insured.
I am 30 years old and will get married right after six months. I want to purchase a floater well being insurance coverage program. Can I contain my would-be wife’s name in the policy? —Manoj Kumar The proposer’s partnership with the proposed insured members are to be established as per the solution terms. In case of a self and spouse household floater, the spouse is defined to be a lawfully wedded spouse. Hence it is advisable that you opt for the policy as soon as you get married.
Can I contain my dependent sister in my household well being insurance coverage as she is without the need of a job now and has no well being insurance coverage cover? —Sanjay Singh A household floater is commonly defined as self, spouse and two or 3 dependent young children. Your sister can be incorporated in case it is an person policy and supplied the solution supports this partnership beneath the person cover. However, this will not be achievable in a household floater.
What is the common rule for waiting periods and if I port my policy would the waiting period start off as soon as once again? —C R Vishnu Whenever you effectively port a policy from a single insurance coverage business to the other, the new insurance coverage business is supposed to give credit for the waiting periods that have been pointed out as portion of your Policy that you have currently served with the erstwhile insurance coverage business, by lowering the duration of waiting periods as applicable. Every well being insurance coverage business commonly has 4 types of waiting periods: (1) 30 days for all hospitalisations other than accidents (2) typical 24-month waiting period for listed ailments (3) pre-current waiting period of 24/36/48 months and (4) maternity waiting period.
The writer is MD & CEO, ManipalCigna Health Insurance. Send your queries to [email protected]