back arrow Back

Death of Insured in Floater Health Policy - Renewal

reply Share
12 Oct, 2020 by  Ashutosh Chokhani

In floter health policy, on death of an insured member. At the time of next renewal, will the full sum insured be renewed as it is? Or be divided on the basis of number of members remaining?Ex : 50L Floater covering husband and wife. Husband dies. On next renewal, policy renew for 50L or 25L? Thanking You, in advance

like like
Health Insurance

2 Answer

12 Oct, 2020
Co-founder, SureClaim

Hey Ashutosh,

Two things are pertinent to note.

1) If the insurance plan has a mandatory requirement to have min. 2 family members to be covered, and in the event only 2 members were covered and one dies, then renewal cannot be made in the same product. Then the surviving member has to be shifted to another plan from same insurer that allows individual only.

When that happens, as per your example, the surviving member has the choice to renew in new plan at 50L. Only if surviving member doesn't want that much cover, then they can opt to reduce sum insured (SI).

2) Even if the plan allows surviving member(s) to continue the plan upon death of one of the members, they're free to continue 50L or can opt for lower cover basis their need.

Hope this is clear. Happy to answer if you have followup question.

If you can mention the exact name of the plan, then I can advice more accurately.

Anuj Jindal



like like
icon-comment 0 Comments
icon-reply Reply
13 Oct, 2020
We breathe insurance :)

Yes, the sum insured will be renewed as it is. Insurer cannot reduce your sum insured, due to death of one of the insured members in a family floater. In your example Policy can be renewed with full cover upto 50L - in an individual plan - Insurer cannot forcefully reduce the cover since the number of members have reduced.

like like
icon-comment 0 Comments
icon-reply Reply

Tired of dealing with call centers!

Get a professional advisor for life!


Rs. 1799


Discover the best tips for insurance every week!

Beshak is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and does not have any alliance or association with any Insurance business.
© Copyright 2023 Beshak Solutions Pvt. Ltd. All Rights Reserved.

Disclaimer: The content on the website is purely for information purposes for the public at large, and does not constitute personal financial advice for a specific individual reader.
If you are reading this, it means you love reading the fine print. Why not get paid for what you love doing - Join us by writing to now 🙂