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Multiple Health Insurance (Mediclaim) Policies

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27 Jan, 2024 by  Manoj

I’ve been holding two health insurance policies, one with ICICI Lombard for almost 20 years, and the other one with Manipal Cigna (migrated from Oriental Insurance) for about 25 years, both for a base of INR 20 Lakhs individually. These are family floater plans for three of us, me (54), my wife (46) and our son (21). There has never been any claim from either of these two policies thus far. Cigna is charging about 65,000 per year while ICICI Lombard is about 87,000 for two years. Is there any point continuing with two Mediclaim policies? If no, which one should be dropped? Manipal is due for renewal next week.

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Health Insurance

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20 Feb, 2024

Hello Manoj,

Apologies for the delayed response.

Since your son is 21 years old, he may soon require individual health insurance coverage as he grows older and becomes financially independent. So, based on your situation, I think you can keep one policy covering just you and your spouse, while the other can just cover your son. 

I hope this helps. Thank you!

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