User:AP Singh

Backup Health Policy means a policy that works as a backup plan with your primary health policy. It is like a add on policy. It will work once the Sum Insured of primary policy is exhausted. As it is a secondary policy so the premiums are very less. A person can buy it with a bank health policy and a corporate health policy. The benefit of buying it with corporate policy is that the corporate policy is designed by the company so if sum insured is exhaled a person can use backup health policy. If a person changes the company or left the company, in such a situation he has no policy. The benefit of this policy is that you can convert it to primary policy after a fixed duration. In such a situation the person will face no waiting period. In case of fresh purchase of policy, the person has to face waiting period of 4 year for pre existing disease. But in case of backup policy, the person will get coverage from first day of policy. A bank policy can not be transferred to other company. In case, bank health policy tie up breaks with the company The person has only two options either to continue with the same company at original premiums or to buy a fresh policy with other company. But, if a person is using a backup health policy so he can convert it to primary policy without any waiting period.