I have a medical insurance with National Insurance in the name of my father & mother (77 years) of Rs. 1,50,000/- each. The said Mediclaim policy was renewed on 10th April 2021 for a year (Mediclaim policy due from 17th April 2021). But on 15th April 2021, my father expired after I renewed the policy on 10th April 2021.

What is the procedure to delete the name of my father from the said policy due to his death and convert the entire sum of Rs. 3,00,000/- in the name of my mother since I already paid the premium for 2021-21?

Will the policy to be treated as new? If new, what would happen for the cumulative bonus for the existing policy? Will the CB be lost?

Ans: I am very sorry for your loss Anirban. The procedure to undertake is simple: you need to visit the nearest branch with a request letter, death certificate and original policy documents. Once one of the members is deleted, the insurance company will recalculate the premium and renew the family floater policy with your mother becoming the sole policy holder. Also, the cumulative bonus benefits should normally be retained by the insurer.

You may also choose to call your insurer to check if they have a specific format for making the change. This will help you avoid multiple visits to the insurance company’s office. Increase in sum insured for your mother to a larger amount is at the discretion of the insurance company and you may request for the same.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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