Family floater health insurance - 2

                                                             

Gaining popularity of having this policy would have forced you to take one such policy immediately, but have you disclosed all the details to your insurer.  You had seen the benefits of having this policy in detail in the earlier article, now you can see the ways to get proper benefits and need to provide all the information while taking this policy.

Am having company insurance, should I get another one?

Rajesh has been shifting companies frequently every two or three years, and in all the companies he has been getting sum insured for death and family floater policy for a minimum of 5 lakhs. Whenever he has been approached to take a separate family floater policy to have proper continuity he had denied saying it is extra waste of money and medical bill reimbursements will not be covered in such policy. Once during transfer to another company he has met with a minor accident he was admitted in a hospital where his existing medical insurance was not accepted due to his resignation with his earlier company. This is a very unfortunate situation and he was forced to liquidate all cash in his bank deposits to meet with the medical expenses. Suppose if he has taken a separate medical cover all this would have got covered in that medical insurance. Now he has taken a separate family floater insurance policy including his parent and in laws.

Am having company insurance, why should I get Top up?

Sam has been working with a leading software company in Bangalore and he has not moved out of the company for the last 5 years. He had got married in between and included his wife also in the same policy. Now he has got a kid which also has been included in the policy. All these years coverage has just moved from 3Lakhs to 5 Lakhs for the whole family. The whole family is having coverage of just 5 lakhs though he has been asked to get at least a Top up on existing insurance policy he was always reluctant to get another one. Suddenly during a travel they had met with an accident during which he had suffered minor injuries and his wife, kid met with injuries for which major surgery needs to be performed. He had liquidated all the cash which he has been accumulating over the years to save his family and love, after all the earnings were for them. If he had opted for a top up of another 15lakhs, it would have been a hassle free treatment with the whole coverage.

Should I get a more coverage?

Believe the health insurance agent or broker if he explains you all the required details and benefits in having his company policy. He will always say it is superior to the competitor, get the details of the other company also, compare and select the policy. Don’t buy a policy if it is just cheaper compared to others as the premium may be increased from the next year owing to revisions, so check the claim settlement, customer service when in need, benefits offered by the company in comparison to other health insurance policies.