Porting health insurance

[anibha88]

Hello everyone,

I currently hold Star Health insurance for my parents under the Family Health Optima plan. My father and mother are aged 62 and 61 respectively. I purchased this policy on June 6, 2014, and it no longer has any waiting period.

However, I am facing an issue with the high premium, which amounts to close to 50k every year for a sum assured of 3,00,000. Additionally, it has limitations such as room rent constraints.

Therefore, I am exploring the option of porting to another insurance provider to mitigate these concerns. Unfortunately, due to my mother's previous health history, characterized by repeated hospitalizations, my attempts to port have been consistently rejected.

I would appreciate any suggestions for the best course of action in this situation.

Thank you.

 

[prometheus]

Try porting to Aditya Birla once, but be mindful if there are multiple hospitalizations in the past or there's any sort of high risk, it is ultimately up to the insurance company to accept the port or not.

Even if you manage to port somehow, you'll have to again commence the waiting period for the new policy for a particular tenure.

Also, at this age, I would recommend not to port but continue the existing plan and get a top-up for a minimal amount on the same policy. This shall balance out the cumulative premium amount and increase the cover too simultaneously.

 

[4everdheeresh]

You can consider Acko health insurance, which offers policies with no waiting periods. Alternatively, you can look into Niva Bupa. However, I recommend opting for a 0 co-pay option and ensuring each person is covered with a separate sum assured of 5 lakh each.

 

[prometheus]

You can consider Acko health insurance, which offers policies with no waiting periods. Alternatively, you can look into Niva Bupa. However, I recommend opting for a 0 co-pay option and ensuring each person is covered with a separate sum assured of 5 lakh each.

If money is a concern then a floater plan with top-up will do the job, no need to cover both separately I feel, since the premiums shall already be high as per the age brackets but yes if you can port to a no waiting period you should at the earliest. @anibha88

 

[sshivam512]

I will recommend you to just talk with policy bazar customer care and they will connect you to the agent who will directly visit your place and discuss all the issue with them and do consider several points while talking or porting to new insurance like room rent, co pay terms, cumulative bonus and many others... This will be the best way to easily switch to preferred insurance plan in cluttered market.. If any query msg me here.. I will surely help you out