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ID #1087

I am 37 years old and have a family floater mediclaim policy for myself, spouse and 2 year old kid. Kindly tell me which insurance company provides roll over of family floater health insurance/mediclaim from any other insurance company.

Apollo Munich, Star health and Iffco Tokio allow rollover from other floater health insurance companies. Given below are the rollover guidelines of each.

Apollo Munich:

1.30 days exclusion waiver

2. 2 year exclusion waiver
3. Pre-existing Exclusion waiver with a minimum waiting period of 1 year
 
4.Transfer of Cumulative Bonus : 5% every year max 20%
5.No reduction in waiting period for other benefits
Iffco Tokio:
1. Cumulative bonus: Iffco Tokio will allow transfer of the Cumulative Bonus on as is basis i.e. cumulative bonus earned with other insurance companies will be shifted to Iffco Tokio’s Policy

2. Preexisting diseases coverage: Iffco Tokio will consider the expiring policy’s claim free terms for coverage of pre-existing diseases under the Iffco Tokio’s policy i.e. if the policy has run for 1 claim free year, Iffco Tokio will cover preexisting diseases after 3 consecutive claim free years with Iffco Tokio. 

Claim Free Years under expiring policy

Eligibility of Preexisting disease coverage Under Iffco Tokio after

1

3

2

2

3

1

4

0
3.Second Year Disease Exclusion : Iffco Tokio will exclude Two year Disease exclusion for one additional year, if Insured has already run floater Policy of other Insurance Company for one year. If Insured has taken policy for two years or more on continuous basis, Second Year Disease exclusion will not apply.
4. The policy must have run for at-least one claim free year and a confirmation of No claims Bonus/Cumulative bonus must be verified.
5. Sum Insured

Expiring policy must be on floater Sum Insured basis with minimum of Rs 200000/- Sum Insured

Sum Insured for the renewal policy must be same or lower as that of the expiring policy. However the higher sum insured may be considered based on the higher income of the individual.

Star Health:

1. There should NOT have been any claim in the expiring policy with the previous insurer

2. Waiver of  30 days waiting period 

3. Waiver of first year exclusions – if the policy had run for 1 year and also the waiver of  first two year exclusions if the policy had run for two years continuously and is being renewed with Star without break.

4. The benefit of Pre Existing Disease cover will commence only after  4 years of experience with Star.

5. If the Insured had been covered with the previous Insurer for more than 2 years , the company shall not accept the risk .

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Last update: 2010-10-04 16:15
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Revision: 1.0

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