I am having family floater plan of rs 5 lakh for husband wife and my daughter, now my daughter is 18, we eant a seperate health insurance along with a super top up ,5+50 lakh, please suggest me health insurance with restoration facility and super top up , which cover all benefits including maternity without any sub limit l

Ans: Its good that you are reviewing your family's health insurance now. Many people realise the need only after a medical emergency. Since your daughter is now 18, this is the right time to strengthen your family's health protection.

»Your Present Situation

You have a family floater policy of Rs. 5 lakh covering husband, wife and daughter.
You are planning to add a separate base health policy with a super top-up of Rs. 50 lakh.
This is a sensible approach.
It gives higher protection at a reasonable premium.

»Base Health Insurance

A base cover of Rs. 5 lakh is a good starting point.
Ensure the policy has unlimited restoration of the sum insured.
Restoration should work even if the same illness occurs again, if the insurer provides this feature.
Choose a policy with lifelong renewability.

»Super Top-up Plan

A Rs. 50 lakh super top-up over the Rs. 5 lakh base cover is a very good combination.
It protects your family against major hospitalisation expenses.
Super top-up plans are usually much more cost-effective than buying a very high base policy.

»Features to Look For

Unlimited restoration benefit.
No room rent restrictions.
No disease-wise sub-limits.
Wide cashless hospital network.
Coverage for modern treatments.
Day-care procedures included.
Pre and post-hospitalisation expenses covered.
Organ donor expenses covered.
Domiciliary treatment, wherever required.
Annual health check-up.
No Claim Bonus or cumulative bonus.
Good claim settlement service.
Fast claim processing.

»Maternity Cover

Maternity cover is available only in selected health insurance plans.
Most policies have a waiting period before maternity benefits become available.
Many insurers also keep a maximum payout limit for maternity expenses.
Finding a policy with maternity cover and absolutely no sub-limit is quite rare.
So, read the policy wording carefully before buying.
Compare the waiting period, maternity limit and newborn baby coverage.

»Separate Policy for Your Daughter

Since your daughter is now an adult, buying an individual health insurance policy for her is a good idea.
It helps her build continuity benefits from a young age.
She will also complete waiting periods early.
This can be very useful in future.

»Review the Existing Policy

Before discontinuing your current family floater, check its renewal benefits.
See whether it has accumulated bonus or waiting period credits.
If the existing policy is good, you may even continue it and add the super top-up.
Avoid any gap in health insurance coverage.

»Finally

Your plan of combining a Rs. 5 lakh base policy with a Rs. 50 lakh super top-up is practical and cost-effective.
Give more importance to policy features than premium alone.
A policy with strong restoration benefits, no room rent limits, broad coverage and efficient claim service can make a huge difference during a medical emergency.
Spend time comparing policy wordings before making the final decision. That one effort can protect your family for many years.

Best Regards,

K. Ramalingam, MBA, CFP,

AMFI-Registered MFD – ARN 4188

www.holisticinvestment.in

https://www.linkedin.com/in/ramalingamcfp/