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Queries for floater plans

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11 Jul, 2021 by  Vivek


I am looking into buying a floater plan for me (35) and my wife (34). Until now we have always relied on our work place provided Health Insurance. Both me and my wife have had decent cover from the company provided plans, which we have included our parents too. I have included my parents in my cover, where as my wife has included her parents in hers. These plans have helped us with COVID hospitalization claims for our parents without any issues.

But now I am planning to take a separate plan for me and my wife. Few couple of queries on that.

1) Max Bupa Reassure seems quite adequate fit. Would a base cover of 10L suffice? Or do we need any additional super top-up. We don't have any PED to consider as of now.

2) Suppose, when we have a baby a year or 2 down the line, how can I add the baby to the family floater? Do I need to take a new plan or there will be just a change in premium?

3) Will buying from websites like coverfox and policybazar be more useful then directly from the insurance provider website?

I am open to any other suggestions or options.

Thank you.

Health Insurance
Basics of Insurance

3 Answer

11 Jul, 2021
CEO, Insurance Samadhan

Dear Vivek

You are taking a wise step by supplementing your heakth insurance .

All grpup policy holder must have a self owned cover . No private employer would keep you in employment if you are sick for long time then you need self owned cover .

I recommend a family floater of Rs 5 lakh plus super Top up of Rs 20 lakh .

Take a plan with maternity cover with 2 year waiting period . Your child get automatically covered if child is born under maternity insurance .

Though all online platforms are good if you are insurance litereate else I recommend a good advisor . Take time to select a good advisor rather a good product .

Hope this suffice

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12 Jul, 2021
Chartered Accountant, Personal Finance Advisor

Dear Vivek,

I agree with Shaileshji. In case you are looking at taking a policy that covers maternity after 2 years I would recommend going with Family First variant of Max Bupa Health Premia which has individual cover of Rs. 5 lakhs for each of you and a Floater cover of Rs. 15 Lakhs.

You can migrate to a non maternity product like Reassure after you have utilised the maternity cover

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17 Jul, 2021
Self Employed - Digital Consultant

Just 1 point to add to Shailesh & Sathish -

The child gets automatically covered only for the first 90 days or till the next renewal date if your health insurance plan offers new born coverage. After this initial period of automatic coverage, you have to formally propose for inclusion of your child in your floater policy by submitting a proposal form & the premium payment cheque to the Insurer.


Asad Akbar

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