Ask Value Research

Buying a family floater cover

Never hide any material facts from an insurer. It may land you in trouble at the time of making a claim

I want to buy a family floater health insurance for me (38), my wife (28), two sons (3 and 1). Actually my elder son have VSD (hole in heart) by birth which may need a surgery in future. Will a company sell insurance to me with this disclosure? Should I hide this fact while buying the cover? Will it create any trouble in future?
- Anshu

Never hide any material facts from an insurer. It may land you in trouble at the time of making a claim. Disclose all details while filling the form. Pre-existing diseases are not covered by insurers. So, you will get family floater insurance cover but without covering pre- existing illnesses. You may go for Apollo Munich Easy Health plan or ICICI Lombard Complete Health Insurance-iHealth Plan. Policy premiums will be based on medical condition of all family members.

This article was originally published on January 13, 2016.

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