Getting Married? Upgrade Your Health Insurance Plan Too!
When it comes to wedding, it has a distinct significance and meaning for different people. Some see it as a holy bond for a lifetime, whereas some take it just as a custom that is implemented once in life forever. However, whatsoever may be the perception, but for a successful marriage, proper planning is required. Among several financial, social and emotional responsibilities that you are soon going to be shouldered with, health is one. To ensure a healthy and happy relationship, you need to opt for a health insurance plan to cope up with the medical emergencies that might arise in future.
But, if you already possess a health cover, then how your better-half can be a part of it? On the other hand, if you don’t acquire any policy, then what is the best fit for you and your spouse? These questions hold the depiction that this is a product that must gain a place in the portfolio of marriage seekers. The health isn’t a responsibility of men only as purchasing a health insurance is not a choice, but a necessity. Hence, men who own a health scheme should explore the ways to include his newly wedded spouse, while women who attain a plan should give a thought to incorporate their husbands too. Here are possible options pertaining to the purchase of health insurance policies.
How men can add their wives in single health policy?
A) Your wife may be already covered under a family floater plan of her parents. But, it would go null and void after marriage; therefore, you should buy a family floater policy or an individual health plan for covering her. If you are purchasing an individual plan for her and she is financially dependent on you, still, you can act as a proposer claim tax deductions on the premium paid.
B) If your wife is financially independent, then she might own a health insurance plan already on her name. In this case, here two things are possible, either your spouse can continue with her health insurance plan by making the alteration in her maiden name or you can avail the option of portability to switch your scheme to another individual policy with her married name.
C) If you already own a family floater plan that covers you and your dependent parents, in such case, you can immediately incorporate your spouse in its coverage after the marriage or can wait till renewal. The immediate inclusion of your wife is easy and includes filling up a fresh proposal form and paying a pro-rated premium.
How women can add their husbands in single health policy?
A) It would be a great thing if being a woman you acquire coverage under an individual health plan. But, if you find that your husband doesn’t own any health coverage, then you can and should get your policy converted into a family floater scheme to include your husband in it. But, if your husband already holds a health policy for himself, you can go ahead with your plan by changing the name.
B) If you are already equipped with a family floater plan that you once bought for your parents before marriage, you can decide to replace your parents with your partner or comprise your partner in addition to your parents after marriage. To ensure the continuation of your earlier plan for parents, you can also purchase another family plan covering yourself and your better half while simultaneously proceeding with the previous scheme. It requires you to convey your decision to both the insurance providers of your plan for the proper occurrence of the claim settlement procedure.
How couples can get into a single health policy?
A) If neither of you possesses a medical coverage, you people can purchase separate individual policies for every one of you. To manage this coverage, husband, as well as wife, can become the proposer for the other person in both the plans, depending on their financial dependency. Also, they can be the proposers of their plans individually as per their financial soundness. In both these ways, they can claim a tax exemption.
B) The couple can also purchase a family floater medical coverage plan that can offer coverage to both of them in a single health insurance scheme. Under this arrangement, the husband or the wife could opt for turning into the proposer according to their monetary condition.
Along these lines, while your relationship status is about to change through the wedding, your medical coverage requires some tweaking with the goal to get your spouse a medical coverage as well. Thus, it is necessary to plan your policy in compliance with your circumstance and requirement for gaining the peace of mind and confidence of being secured against medicinal emergencies.