personal finance

I have pre-existing diseases. Should I buy health insurance for my spouse and myself separately?


I am 30 and suffering from hypertension and prediabetes for the past two years. I want to buy a health insurance plan for my spouse and myself. Should I buy a family floater or separate plans for each of us, given my pre-existing health conditions?
Yashish Dahiya Co-founder and CEO, Policybazaar.com
replies: Health insurance pricing usually is based on age, and not pre-existing conditions. Buying a floater policy will mean for the same price, you will get a higher coverage and risk is spread across two individuals. Opt for a family floater plan and choose a high sum insured. Now plans are available for sum insured as high as Rs 1 crore at very competitive prices. Please declare your health conditions to the insurance company. before you buy.

My son, 39, and his wife, 32, are looking for a suitable critical illness plan. Both already have term plans of Rs 1 crore and Rs 50 lakh respectively. They along with their 8-year-old daughter are also covered by a health insurance policy of Rs 18 lakh (basic Rs 3 lakh + top up Rs 15 lakh). Please suggest a policy that offers multiple benefits without being too expensive.
Yashish Dahiya Co-founder and CEO, Policybazaar.com
replies: If you already have term and health insurance, then you should definitely buy a standalone critical illness plan. Before buying a standalone policy, look for the number of critical illnesses covered in the plan. You can consider Future Generali’s critical illness plan, as it covers 59 critical illnesses, and the premium would be around Rs 896 per month. In a critical illness rider, on diagnoses of a particular illness, the policyholder is provided with a lump sum benefit up to the entire sum assured. This sum assured can be used for treatment and can also replace loss of income during treatment and recovery period.





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