Is it possible to convert from the existing family floater to individual mediclaim policy?

[reji]

Is it possible to convert from the existing family floater to individual mediclaim policy?

[rizvan]

Your parents will need to undergo fresh underwriting to convert into individual. That's because the insurance is much higher in the individual insurances - Rs 10 lakhs versus Rs 2 lakhs. Automatic conversion without underwriting will be difficult. Having said that the public sector insurance executives do have discretionary powers and, if they are convinced, that this is a bonafide case may allow the change. Why don't you just ask the branch you are dealing with.

[rizvan]

Your parents will need to undergo fresh underwriting to convert into individual. That's because the insurance is much higher in the individual insurances - Rs 10 lakhs versus Rs 2 lakhs. Automatic conversion without underwriting will be difficult. Having said that the public sector insurance executives do have discretionary powers and, if they are convinced, that this is a bonafide case may allow the change. 

[Kanchi]

If you are Converting it within Same Company, It can be done easily at the time of Renewal.

Family Floater Plan : 2 Lacs ( Insurance Companies Liability : 2 Lacs )

Individual : Each 2 Lacs ( Insurance Companies Total Liability 4 Lacs )

I have Personally Done a Case like this to my client.

So you should visit the Insurance company directly and submit the letter. They may allow this.