I have an individual health insurance policy. I want to get one for my daughter as well. Should I ask the insurer to include her in my policy or buy a new one for her? I pay an annual premium of ₹12,000.
— Gayatri Kusum
If your daughter is dependent on you, you can include her under your existing coverage by converting your policy to a family floater plan. The family floater plan would cover you and your daughter under the same sum insured. This, typically, works out cheaper than buying a new health plan.
However, the family floater plan would cover your daughter only up to a particular cut-off age. This cut-off age varies between different plans and ranges between 18 and 25 years. Thereafter, you will need to migrate her into a separate individual plan. In case your daughter is nearing the cut-off age, then it is simpler to just buy an individual plan for her right away.
Abhishek Bondia is principal officer and managing director, SecureNow.in. Queries at email@example.com