How To Add Spouse To Health Insurance – Marriage is a beautiful thing and with it comes to some responsibilities and necessary financial adjustments you have to make.
One of these necessary decisions will be revising your investments in accordance with what serves the needs of your family better. One of these investments is a health insurance policy you are enrolled in.
If prior to your marriage, you didn’t have an individual policy, this will be the ideal time to get a family floater plan with your spouse. If on the other hand, you already have a health insurance policy, you need to port your partner on to your plan to convert it into one.
What is Family Health Insurance
Family health insurance plan is a health insurance plan that offers coverage to all the members against different diseases and illnesses. This family plan covers your family with the lowest premium, based on the age of the family members.
How to Add Spouse to Health Insurance
It is very essential, that you port health insurance after your marriage. If one of you already has a health insurance plan, all you need to do is add the other partner in the existing individual policy as the spouse.
This process can be initiated by whoever holds the policy. All that is needed to be done, is to submit relevant documents like the marriage certificate and KYC documents including identity proofs, age proofs along with photographs.
The change is effected in the following policy renewal by simply filling an additional form and furnishing the paperwork. Thereafter, the premium, in this case, is then calculated and pro-rated, and this now becomes the family floater insurance policy plan.
Benefits of a Family Floater Plan
This plan comes with income tax benefits which is the same as any other health insurance plan as per Section 80D.
Some plans provide a feature known as reinstatement which helps to reinstate full coverage once exhausted during the policy period. It comes in handy, even though it is only applicable for unrelated claims.
The Policyholder of a family floater plan, gets to take care of himself as well as his entire family under one single policy. Note that a single policy is quite easier to mange than managing multiple individual plans.
Family floater plans most times comes with add-on benefits like maternity benefits, newborn cover and much more. This can be very helpful for a young couple who are just starting out a family.
Finally, before you go ahead to add your spouse to health insurance plan, discuss with your spouse, and consult before you take this major financial step.