Tracking health insurance and its renewals
A policy is only worth what it pays, and it only pays if it is alive on the day you claim. Annual, and lapsing even briefly can reset waiting periods for pre-existing conditions — the single most expensive administrative mistake in Indian personal finance.
Why renewals get missed
Annual, and lapsing even briefly can reset waiting periods for pre-existing conditions — the single most expensive administrative mistake in Indian personal finance. The failure is almost never a decision — it is an expired card on auto-debit, a change of email, or a premium that fell due in a busy month.
What to record for each policy
Insurer, policy number, type, sum assured, premium and how often it is paid, the renewal date, who is covered, and where the document lives. That list takes ten minutes and answers every question that arises at a bad moment.
Make sure someone else knows
A policy your family cannot find is a policy your family will not claim. Whoever would need to make the claim should know it exists, know the insurer, and be able to reach the paperwork without you.
Where FamTally comes in
FamTally holds every policy the family has — health insurance included — with sum assured, premium, frequency, renewal date and the members it covers. It totals your cover so gaps are obvious, puts premiums into your monthly cashflow, and reminds you ahead of each renewal. Free to use.
Stop doing this in a spreadsheet
FamTally keeps your loans, income, expenses, assets, insurance and goals in one place, forecasts five years ahead, and answers questions about your own numbers. Free, and built for Indian families.
Start freeQuestions people ask
What does health insurance cover?
Hospitalisation, day-care procedures and, in most modern policies, pre- and post-hospitalisation costs for a defined window.
How much cover should we take?
A family floater sized at roughly ten to fifteen times monthly income, with a super top-up stacked on for the catastrophic layer.
What happens if it lapses?
Annual, and lapsing even briefly can reset waiting periods for pre-existing conditions — the single most expensive administrative mistake in Indian personal finance.