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How to shift from family floater to individual health cover?

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08 Jun, 2021 by  Shanti !


I have a family floater policy with SI 20 lacs covering me(35), my wife(30), 2 kids (ages 4 years and 1 year) . Is it possible for me to migrate to an individual policy and let the remaining members be in the family floater? If so, at what age should I do it? 

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Health Insurance

1 Answer

09 Jun, 2021
Self Employed - Digital Consultant

Family floater to Individual can be done at the time of renewal. It will involve 2 steps -

1) You'll have to fill a fresh proposal form for individual health insurance. Additionally, you'll also be needed to give a porting form if you are taking this individual insurance from another Insurer. In case you are shifting to individual insurance with your current Insurer, the porting form may or may not be needed.

2) You'll have to give a Change Request Form along with your renewal payment to remove yourself as an Insured member from the family floater policy. You can continue to be the Proposer of family floater insurance if you want to avail Sec 80 D tax benefit. In case your wife is also a tax payer, you can make her the proposer of family floater policy to maximize your tax gains.

Hope this helps.

Asad Akbar

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10 Jun, 2021
Shanti !
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