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Increase in health cover

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17 Mar, 2021 by  Viresh Verma

My father has a group insurance policy as part of the Public Sector Bank where he is an employee. He retires next year. We have spoken to multiple people who have confirmed that the same policy can be converted to an individual policy without reset in waiting period after retirement. However, the current cover is 4 lacs which we wish to increase to about 10-15 lacs on conversion to individual policy. Will this lead to a reset in the waiting period? If so, is it possible to increase the cover before retirement so that we can continue the same after retirement?

Health Insurance

1 Answer

Regional Director, Amicus Insurance Broking

The waiting period of 4 years for pre existing conditions will apply for the enhancement opted for. So upto 4 lakhs there won’t be waiting period upon porting to individual policy and beyond 4 lakhs to 10 lakhs/15 lakhs, the waiting period kicks in.

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