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How To Extend Health Insurance Cover To Include Your Partner?

Team AckoMay 13, 2024

Getting married to the person you like can be one of the most cherished moments of your life. For some, it is a dream come true and they want the best of everything for their spouse.

Believe it or not, one of the best things that you can gift a person you love is financial security in a time of need. And what could be more apt than buying a health insurance policy? Thus, in this article, we will reveal ways in which you can extend health insurance coverage over your spouse.

Contents

How To Extend Health Insurance Cover To Include Your Partner?
The Significance of Top-up Plans
Ways to Include your Spouse in Health Insurance
Legal and Documentation Requirements
Planning for Future Healthcare Needs
Things to Keep in mind Before Buying Coverage for your Spouse
Frequently Asked Questions (FAQs)

How To Extend Health Insurance Cover To Include Your Partner?

Getting married or moving in together is a big step, and it’s wise to plan financially for your shared future, too! Getting your spouse included in health coverage brings immense peace of mind. Most employer policies allow adding partners at a small premium hike. For individual plans, buy family floater options covering kids/parents, too, if budget permits. Inform the insurer before marriage for smoother enrollment. Keep licenses, marriage certificates, etc., handy for ID needs. Choose plans accounting for future reproductive health needs, too.

The Significance of Top-up Plans

While expanding insurance access to life partners is great, base policy sums insured can fall short, given today’s exorbitant medical costs. This is where low-cost top-up plans come in – they provide additional Rs. 3-5 lakhs covering expenses over and above the regular policy limits. Top-ups match increased liability from adding dependents without burning holes in pockets. They also allow financial resources to focus completely on recovery rather than fund stress in crisis scenarios.

Ways to Include your Spouse in Health Insurance

#1 Family floater plans

You may have already bought health insurance plans for a family like a Family Floater plan if you live with your parents. One of the easiest methods to extend a medical insurance cover to your spouse is to get him/her included in your family health insurance. You may want to consider increasing the amount of sum insured to cover your partner. Note that this will, in turn, increase your health insurance premium. Health insurance plans for family generally cover the policyholder, spouse, aging parents (one or both sets of in-laws as per the terms of the insurer) and usually 2 children below the age of 25 years.

#2 Employers health insurance

These are plans offered by an employer to cover the cost of medical emergencies faced by the company’s employees. Employers medical insurance policies are usually group plans with a specific amount of sum insured allocated to each employee. These plans are not extensive in nature and may not take care of specific needs. However, general health insurance coverage can be availed through employers health insurance. Check with the insurance company and get to know if you can add a spouse to your plan as these plans usually extend coverage to the employee’s immediate family members as well.

#3 Individual Health insurance

If you do not wish to add your spouse to a group health insurance policy, you can buy an individual plan for him/her. You can select any such plan that suits your needs. An individual health insurance policy is extensive in nature and can be customized to suit your needs. You can also decide the plan based on the sum insured it offers. Make sure to note your spouse’s medical requirements before buying a plan. Taking a look at the inclusions and exclusions will be helpful at the time of claims.

inclusions and exclusions will be helpful at the time of claims.

Legal and Documentation Requirements

To legally cover one’s spouse under health insurance plans, insurers require proof of marriage or domestic partnership for enrollment. While marriage certificates usually suffice, live-in partners may need to provide additional address proofs confirming cohabitation plus passport photos and income slips establishing joint financial status.

Updating partners in existing policies also involves filling proposal forms and nominee declarations – insurers use these to verify identities and claims eligibility. Timely paperwork aids in speedy onboarding.

Planning for Future Healthcare Needs

Getting life partners on board one’s insurance plan is among the most prudent financial decisions for the future. Our healthcare needs inevitably rise as we age or face health events. Including your spouse while young and healthy lets you pool premiums at the lowest rates possible.

This guarantees continued support for each other without restrictions when care becomes costlier down the line – be it childbirth, critical illness, or old age. Plan soundly as a team.

Things to Keep in mind Before Buying Coverage for your Spouse

Your budget:
An average Indian wedding ceremony can possibly drain your savings. In such a scenario, a newly married couple may be on a tight budget. Select your health insurance keeping in mind the coverage and features of a plan. Do not buy unnecessary add-ons that would potentially increase the cost of your health insurance policy. Compare various plans available in the market and choose the one that is rich in features as well as light on your pocket. You can easily switch to a different plan in the future as health insurance offers portability as well.
Spouse’s medical history:
Get to know as much as you can about your spouse’s medical history before buying a health insurance plan. This is because any pre-existing diseases may or may not be covered in the plan. Some insurers may enforce a waiting period for certain ailments. In such a case, having a back-up ready will be helpful. Also, look for plans from various insurance companies to minimize the impact of not having coverage for a specific disease.
Family planning:
Starting a family could be a far fetched dream for a newly married couple. However, weighing the options now will help you get the best coverage in the time of need. Note that not every medical insurance policy has maternity benefits. In some plans, one needs to wait for a couple of years before being able to make a claim against maternity coverage.
Tax benefits:
One can be eligible for a tax benefit under section 80D of the Indian Income Tax Act. Don’t forget to research your eligibility for getting tax benefits before buying a health insurance plan. You can also buy health insurance for your senior citizen parents (if applicable) and get a tax benefit when you buy family health insurance plans.

The Bottom Line

Adding one's spouse to health insurance is a caring gesture, providing immense security for the future. Joint coverage means unexpected health issues don't force financial trade-offs or anxiety. Though initial paperwork seems tedious, long-term renewability guarantees support during life's vulnerabilities. Planning ahead empowers focusing on meaningful moments. So invest in peace of mind, and each other's well-being upfront for a stress-free shared future.

Frequently Asked Questions (FAQs)

FAQs

How can I add my spouse to my existing health insurance plan?

You can add your spouse to your family floater plan or employer's health insurance by providing necessary documents like a marriage certificate. Just inform your insurer or HR department to start the process.

Are top-up plans worth considering when adding my spouse to my insurance?

Absolutely! Top-up plans offer additional coverage at a minimal cost, ensuring you're well-prepared for any unexpected medical expenses beyond your primary policy's limits.

What documents do I need to add my partner to my health insurance?

Typically, you'll need your marriage certificate, a filled proposal form, and sometimes additional proof of identity. For live-in partners, proof of cohabitation and joint financial status may be required.

How does adding my spouse to my health insurance impact my premium?

Adding a spouse usually increases your premium due to the extended coverage. It's a good idea to compare plans and consider a family floater for potential savings.

Can I add my spouse to my health insurance if they have a pre-existing condition?

Yes, but be mindful that some insurers may impose a waiting period for pre-existing conditions. Check the plan's details and consider backup options if necessary.

Should I consider my family planning needs when choosing health insurance for my spouse?

Yes, if starting a family is part of your plans, look for policies that offer maternity benefits and cover child-related medical needs, keeping in mind any waiting periods.

How can I ensure my health insurance plan with my spouse offers the best value?

Prioritise plans that align with both your healthcare needs and budget. Don't avoid comparing options, consider add-ons wisely, and review your plan regularly to adjust coverage as your life changes.

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Disclaimer: *Except for exclusions like maternity benefits, undisclosed diseases, etc. Please check policy wordings for more details.

**The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet; and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content and before making any insurance-related decisions.