How To Buy Health Insurance Policy For Your Spouse?

Marriage is a word with varying meanings for many individuals. Despite different perspectives, change is the one constant in marriage. It is believed that marriage is a significant life event that alters everything. The carefree days of bachelorhood end, and new obligations are assumed, including financially and emotionally providing for the family.

How does a health insurance plan play into this sea of change? How will your health insurance policy be affected by marriage if you already have one? And if you are uninsured, what is your best health insurance option?

Health insurance is a mandatory planning product which should appear in your portfolio, and marriage should not modify this perception. For males who have an existing cover, including your spouse in the cover should be your focus and for ladies having an independent cover, it’s time you include your husband in your coverage too. Nonetheless, there are various issues to consider when including your spouse from the male and female perspectives. Let us consider each for a relevant solution.

Men’s alternatives for their spouses

• Your wife may have been insured under the family floater plan of her parents, which she can maintain until the age of 21 or 25. After that, you must purchase a family floater or an individual health insurance plan for your wife’s coverage on the health insurance app. If you purchase an individual plan and your wife financially depends on you, you can function as the plan’s proposer and claim tax deductions for premium payments.

• Your financially independent wife may have a separate health insurance policy. You have two options in this situation: either she can continue with her plan by altering her maiden name through an endorsement, or you can port the plan to a new individual plan with her married name.

• Suppose you currently have a family floater plan where the health insurance for parents and you are covered. In that case, you can add your wife immediately following your marriage or upon renewal. Immediately inclusion is conceivable by submitting a new proposal form and paying a prorated charge for your wife’s admission.*

Choices available to wives for their husbands:

• If you are financially independent and astute enough to have a health insurance policy before marriage, you can convert it to a family plan that includes your husband. If your husband has a different plan, you can continue by changing your name through the insurer app like the Bajaj health insurance app.

• If you had a family floater plan for your parents before marriage, you could enrol your husband. Alternatively, you can purchase a second family floater plan that covers you and your husband while continuing the initial plan. You would, however, be required to advise both insurers of your policies, as a proportional claim would be paid in the event of a claim to enjoy the health insurance benefits.*

Alternatives for a couple

If both of you have health insurance coverage, you might get two different individual plans for each. The husband can be the proposer in both plans if the wife is financially reliant on her spouse and vice-versa. Alternatively, if both spouses are financially dependent, the husband can be a proposer on his policy and the wife on her policy. In this manner, they can both claim a tax exemption.**

In contrast, the couple may purchase a family floater health insurance plan that covers both lives under a single policy. The husband or the wife may function as a proposer if the proposer is financially independent. Thus, your health insurance coverage must be modified to cover your spouse and go through all the benefits through the bajaj health insurance app, as marriage entails several modifications. 

*Standard T&C Apply

** There are 2 tax regimes in India – new and old. Choose the correct one after consulting an expert to get the tax benefit you desire. You can opt for a regime change during the next financial year.

‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘