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Transfer of Parents Health policy to Niva Bupa from Star Health with increased cover amount

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08 Jun, 2023 by  Naveen Yadav

Hi team,


My father is 52 years old and mother is 50, I am looking to get the increased cover amount since they only have 3 lakh cover amount plus 3 lakh bonus with increased with 10% annually (Star Health Optima) also looking to change the insurer to Niva Bupa because they are offering much better benefits. We are with existing insurers for roughly 12-14 years and only claimed once 5 years back.

Please help in taking this decision and process

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Parents-Health-Insurance

1 Answer

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13 Jun, 2023
Sumit Chand

If you want to increase the cover amount for your parents, you can do so by either increasing the base sum assured or by adding on a top-up policy.

To increase the base sum assured, you will need to contact your current insurer and request a change in your policy. The insurer will then assess your request and may or may not approve it. If the insurer approves your request, you will need to pay an additional premium.

To add on a top-up policy, you can either do so through your current insurer or through a different insurer. A top-up policy is a separate policy that provides additional coverage to your existing policy. The premium for a top-up policy is usually lower than the premium for a standalone policy.

If you are looking to change insurers, you can do so by either porting your policy or by taking out a new policy.

To port your policy, you will need to contact your current insurer and request a portability form. You will then need to submit the portability form to the new insurer. The new insurer will then review your application and process your claim.

To take out a new policy, you will need to contact the new insurer and apply for a policy. The insurer will then assess your application and may or may not approve it. If the insurer approves your application, you will need to pay a premium.

If you are considering changing insurers, you should compare the policies of different insurers before making a decision. You should consider the level of coverage, the premium, and the benefits of each policy before making a decision.

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