[Mahesh Babu]

I have a Starhealth Optima family floater plan covering myself and my wife since 2011 for 5 lakhs which was increased to 10 lakhs in 2017. Including NCB at present jointly we have a coverage of 15 lakhs. My doubt is whether my wife can take a super surplus top up policy to enhance our cover. Our advantage would be that she will be able to avail the 80D tax benefit for premium of the top up policy. My premium already exceeds the limit of 80D, so I won't get additional tax benefit anymore. Will there be any technical objections or this, she is also covered by the same policy for the same amount like myself and hence a customer of Starhealth insurance, isn't it? Requesting the opinion of experienced members in this regard.

[McLaren Rulez]

Originally Posted by Gansan

This explains the pros and cons:

https://economictimes.indiatimes.com...w/74311809.cms

Thanks, it makes an interesting point about porting.

The remaining points (I believe) only apply to top up policies. Super top up policies seem to avoid the negatives listed there but remain extremely cheap compared to an equivalent sum insured amount using a base policy only.

Good article!

[Mr.Bentley]

I'm 29. I'm looking to take a health policy for me and my wife. I have corporate cover, but it looks little basic and I cant trust it fully (as per my colleagues' experiences).

A close colleague suggested 'Navi' for health insurance. It has all the basics covered (pre and post hospitalization, day care, cover for many treatments etc) and on top of it, Unlimited online doctor consultation. But no NCB to speak of. Its premium is also less, compared to the likes of HDFC et al. Any suggestions/reviews of Navi here?

And in general, with Corporate health policy, Term policy (life insurance) with add-ons etc, how important is a separate health insurance?

[whitewing]

Originally Posted by Mr.Bentley

...
And in general, with Corporate health policy, Term policy (life insurance) with add-ons etc, how important is a separate health insurance?

As long as the sum insured in the company coverage is adequate and the insurer provides portability to an individual policy (in case of a one quits the job) then having only the corporate policy is sufficient.

Else, it is better to have an individual(or family floater) policy.

[locusjag]

Is it true that health insurance policies don't have renewals, but rather every term is looked at as a fresh new business policy by Indian health insurers? This is what I heard from someone when I told them that I'm planning to buy a policy outside of my employer's group cover.

Essentially - pure renewals will usually have a very low "non renewal" probability. It is during new business underwriting that a "go"/"no-go" decision gets taken. So if health policies are treated as new ones per renewal term by underwriters, there's a possibility that when I'm 60 years, having paid premiums for 2 decades, recently retired and when I need the private health insurance the most, they can choose to abruptly non-renew and leave me without coverage.

Is this a fair assessment? Looking for guidance. Thanks in advance.

[Mr.Bentley]

Originally Posted by locusjag

Is it true that health insurance policies don't have renewals, but rather every term is looked at as a fresh.......

.....when I'm 60 years, having paid premiums for 2 decades, recently retired and when I need the private health insurance the most, they can choose to abruptly non-renew and leave me without coverage.

Is this a fair assessment? Looking for guidance. Thanks in advance.

Sadly, this is how it is. Every year is a new policy, and a new premium.

Although, usually some insurance companies have fixed premiums based on age groups (when I checked in Navi, it showed same premium for me for when I am 29 or 30yrs old).

Ever changing premiums aside, IMO, the ONLY perk of maintaining a streak of health policy every year is skipping the 'wait times'. As you might have known, there are waiting periods for coverage of rather serious illnesses for like 3 years (like treatments of heart conditions etc). All those wait times will be void if we have taken a policy continuously.

[whitewing]

Originally Posted by locusjag

...
Essentially - pure renewals will usually have a very low "non renewal" probability. It is during new business underwriting that a "go"/"no-go" decision gets taken. So if health policies are treated as new ones per renewal term by underwriters, there's a possibility that when I'm 60 years, having paid premiums for 2 decades, recently retired and when I need the private health insurance the most, they can choose to abruptly non-renew and leave me without coverage.
...

Originally Posted by Mr.Bentley

Sadly, this is how it is. Every year is a new policy, and a new premium.
..

While from the semantics, renewal is per each policy duration. But there are regulations to which the provider is also bound to. It cannot be an arbitrary rejection because a premium paying customer over years is now old and has a higher claim probability.
I suppose any arbitrary rejection of renewal can be contested (if one has the energy to pursue that in their old age).

https://irdai.gov.in/en/web/guest/fa...ce-regulations

In accordance to the provisions of Regulation 12(i) of IRDAI (Health Insurance) Regulations 2016 (HIR 2016), all health insurance policies shall ordinarily provide for an entry age of at least up to 65 years. There are also Health Insurance Products that offer Health Insurance Coverage beyond age 65 years. In accordance to the provisions of Regulation 12(ii) of HIR 2016,once a proposal is accepted in respect of a health insurance policy (except Personal Accident and Travel Policies) and a policy is issued which is thereafter renewed periodically without any break, further renewal shall not be denied on the grounds of age of the Insured. Thus, health insurance policies are lifelong renewable.

Note that only Age is mentioned as a factor, and it does not mention anything on the insured catching a disease etc.

[hamster]

Has anyone faced the problem of the premium increasing by more than 75% while crossing certain age limits with your health insurance provider.

Entered the health insurance space when I was 35 in 2012 for a 5L SI (just to secure my future retirement, since I am and have been always covered by employer) for a premium of around 12K.

Had increased my sum assured to 7L couple of years back and with inflation and rising premium costs the premium paid last year was close to 19K.

Now when I am trying to renew the same for the same sum insured (7L) the premium shows 34K

Is this because I have crossed 45 years last year and is this the norm with every insurance provider

[Fx14]

Originally Posted by madbullram

I have been with Apollo Munich then HDFC and have just shifted to Acko.

3. No drama of porting no waiting etc, the coverage starts from day one

Did you port your existing policy or take a new policy from Acko?

[Torq]

I have an existing star health comprehensive insurance with sum insured 15L renewal in two months.

Can I increase my SI to 50L or 1Cr? Is that allowed? Will that lead to waiting period again before all major benefits kick in? Specifically looking for maternity benefits.

[bharanidharang]

I have a family floater health + super top up plan from HDFC for self/wife and son. My son turned 18 in November. Few queries

1. Does it makes sense to move him to a separate policy. Infact keep all 3 of us in separate policies
2. All 3 of us have some history of surgery which has been called out in the HDFC policy. Can I port from family floater policy to individual policy
3. Does the same process apply for super top up as well

[libranof1987]

Originally Posted by Torq

Specifically looking for maternity benefits.

Regardless of SI, most policies cap the expense coverage for maternity claims. Do check the clause in your policy. Star Health seems to do so as well.

https://www.starhealth.in/maternity-health-insurance

Also, from what I was told, if you increase SI during renewal, there is a waiting period for pre-existing illnesses/conditions to use the new SI. But if you don't have any of those, the entire SI can be utilised immediately. Again, check your specific policy clauses.

[Torq]

Originally Posted by libranof1987

Regardless of SI, most policies cap the expense coverage for maternity claims. Do check the clause in your policy. Star Health seems to do so as well.
.

Well, I was planning to increase the SI specifically to bypass this limit of expense capping. This can't be said as preexisting per se, but policy clauses aren't clear as such.

[sumeethaldankar]

Some queries.

1) If a person's parent has health insurance from multiple companies eg one from the parent's former organization and other currently where I am working which provides parental coverage how does one do any claims. Eg if the amount claim is 1 lac then do I split the amount with the two insurance providers or claim it from just one and use the other only in case the claim amount is higher than the amount coverered? For instance insurance co A has 1 lac coverage, insurance co B also has 1 lac coverage. I incur expenses worth 1.2 lac. So can I claim 1 lac from co A and claim the rest 20k from co B?

2) Is it possible to have a adult brother/sister covered through a policy especially if he/she is not employed.

[Latheesh]

Need a help - In addition to the family health insurance policy provided my employer, I have a health insurance from ICICI Lombard, 15L family floater (for son, wife, and I) and 5L additional sum cover.

I received a Health Booster cover offer for 50L from ICICI now for premium ₹9025 (for 1 year), ₹16298 (for 2 year), ₹23768 (for 3 year). Is this booster cover have any impact on my existing insurance?. Is there any major point to consider before taking booster cover?

Thanks in advance!