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Opinion on Porting of Insurance of my mother
Hello My Name is Amrit Choudhary and my question is as follows.
My mother will be turning 65 years in November 2020. I have a policy in her name from star health insurance which has been continuously renewed since 2011, which means that in total I have so far paid 10 renewal premiums continuously.
We had declared Thyroid medication as PED.
Around 5 years back she also underwent a uterus removal surgery which was settled by the insurance company.
The policy name is Star Health Medi-Classic and the cover is 300000 with bonus accumulation of 45000.
In addition to this I have also taken a super top up plan worth 1500000 (15 lacs) from star health only, this I had done in 2020.
The premium that I am paying is ~20K for base and ~9K for super top up.
I want to know if it would make sense to port to a better policy with better features or should this only be continued.
If porting is possible and should be done then which policy should be under the consideration set.