Getting married is a significant milestone in one's life and it is important to review your health insurance needs to protect your spouse and yourself adequately.
Start by notifying your insurance provider about your marriage. They will assist you in navigating the necessary procedures and supply the essential forms for adding a new member. Take the time to thoroughly examine the available plans. Compare the details of your individual plans, considering factors such as coverage and cost benefits. In many cases, transitioning to a family plan tends to be the most logical choice.
“If you are looking to add your spouse midway through an existing policy, it is generally possible with a premium endorsement. However, if your policy is nearing its expiration date, it might be more convenient to include your spouse in the upcoming renewal. This process typically involves adjusting the renewal premium to accommodate the additional coverage. By keeping your health insurance up to date, you ensure that both you and your spouse are adequately protected, providing peace of mind for the future,” says Bhaskar Nerurkar, head – the health administration team, Bajaj Allianz General Insurance.
So, if either partner is satisfied with their existing health insurance and wishes to include their new spouse, they can transform it into a family floater health insurance plan.
“The policyholder initiates the process by submitting necessary documents such as the marriage certificate and KYC documents for the new member, including identity proof, age proof, and photographs. On submission of said documents, the insurer can then add the partner in the existing health insurance plan upon collecting a pro-rate premium,” says Priya Deshmukh Gilbile, Chief Operating Officer, ManipalCigna Health Insurance.
The most important factor to first evaluate in your health insurance policy is the sum insured. If you had a base policy, of say, Rs 3 lakh, you should consider increasing your sum insured to an adequate sum insured of at least Rs 10 lakh. “
This would ensure that both you and your spouse are adequately protected from any serious hospitalization. If you are seeking coverage higher than that at an optimal price, you can also take a super top-up plan at affordable rates,” says Vivek Chaturvedi, Chief Marketing Officer (CMO) and head of direct sales, Digit General Insurance.
Also, if you are seeking coverage higher than that at an optimal price, you can take a super top-up plan at affordable rates.
“If there are plans to grow the family, obtaining maternity health insurance promptly is prudent, considering that potential waiting periods typically range from nine months to four years,” says Gilbile.
Agrees Chaturvedi, “In case you wish to start your family in a few years, it would also be prudent to get a maternity cover added to your policy soon after getting married. This would ensure any pre-requisite waiting period for maternity claims is completed before you welcome your first baby.”
Effective communication is crucial in this process. Discuss your options openly with your spouse and collaboratively make decisions that align with both of your healthcare needs.
“When both partners have employer-sponsored health plans, it’s wise to compare the benefits of each. Sometimes, it's practical for one spouse to join the other’s plan, while other situations may call for maintaining separate coverage,” says Nerukar. However, even if both spouses are coerced under a health plan, it is recommended to buy private health insurance at an early age.