We have a health insurance cover for Rs.8 lakh, which we wish to increase to Rs.10 lakh each after the birth of our child. Should we take a new policy by going to a new insurer or stay with the same insurance provider? - Revathi Sankar, Chennai
How to increase health insurance cover?
Top-up health plan is an additional option to enhance current health insurance.
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Congratulations on the new addition and it is a good move to enhance your health insurance at this stage of your life. You should also consider increasing your life insurance cover, as you now have an additional financial responsibility. You could check with your insurer to increase your existing cover than look for a new insurer or a new policy. You could also consider taking a top-up health plan with the same insurer. Make sure the policy terms and conditions are the same. However, the insurer may wish that you undergo a medical assessment to check on your risk profile though increasing cover with the same insurer may not result in any such medical checks.