KEEPING INSURANCE HUMAN
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Individual Super Top up for family members

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09 Sep, 2021 by  Megha

I have a family floater health insurance policy of 5L that covers me, my husband, and 2 kids.

I now want to enhance the family's cover by taking individual super top ups of 1 cr for each of us, each with a 5L deductible.


My plan is -

  1. For my son(age 7) I will have to go with Tata AIG, as they are the only ones offering stand alone medical insurance for a child above 5 years age.
  2. 1 policy for 1 cr for my husband
  3. 1 policy for 1 cr for me and my daughter (age 2). Once she reaches 5 yrs of age, I will move her to an individual policy like my son.


I have 2 questions here -

  1. Are there any pitfalls with my planning here? assume that in worst case scenario, if all family members require medical attention in the same year, we have the capability of covering the 5L deductible amount to avail the super top up amount for all of us.
  2. Is there any benefit in taking the individual policies for me and my husband from the same provider as my son (TATA AIG)? Or does it make more sense to go for different providers to spread out the risk?
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11 Sep, 2021

Hi Megha,


I don't see any need for you to take 1 Cr of health insurance individually for each member at this young age. You should be good enough with a family floater super top up of 50 lacs to 1 Cr.


Answers to your questions -


1) If all of you end up falling ill in the same year and your expenses are high enough to breach the deductible limit of 5 lacs, your base health insurance will pay only 5 lacs. You may end up paying 15 lacs from your pocket before the super top up kicks in.


2) No advantage in buying policies from 2 different Insurers. They both will pay on merit.


Hope this helps.


Best Wishes,

Asad

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13 Sep, 2021
Megha
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