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Splitting a Floater Health Insurance Policy

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12 Oct, 2020 by  Ashutosh Chokhani

In case of a floater health policy covering husband , wife & young kid. There is a claim with respect to the husband for cancer, which is sucesfully completed & treated. Now on next renewal, proposer wants to split the wife & kids into a new floater policy, so that he can enjoy the entire floater sum insured for 3 people all by himself. As he cannot have a new policy , anytime in future because he is now a sub-standard life.Kindly advise on the same.Thanking You in advance.

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13 Oct, 2020

Hello Asutosh,


You can reduce family members from a health insurance policy. It is entirely your call. Hence, the strategy you mentioned is smart, and can work. You can discuss the splitting of the insurance with your insurance company at the time of renewal. In case this insurer does not agree, you can always delete the wife and kid in your example from the existing policy, and buy a fresh policy for them, in a different insurance company.

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