Dependent Child Moving Out Of Family Floater Policy After Maximum Allowable Age
I want to understand what usually happens when a dependent child is moving out of a family floater policy after maximum allowable age of a dependent child.
a) Whether the existing premium will be reduced for the existing policy holders ( how it will impact the sum insured)
b) Will the child move to individual policy and what will be the sum insured for them and also what happens to the no claim bonus acquired in the previous policy.
Any other points which we need to take care.