Before buying a policy please check for coverage features like sub-limits, co-pay clauses, room rent restriction, disease capping
I am a 34-year working woman. Due to diabetes, 4 insurers had rejected to give the cover. However, I have learned from an agent that one of the insurers will give a cover of Rs 5 lakh without underwriting. Besides, after doing the research I understand that the insurer has a good claim settlement ratio (in health). However, I am a bit skeptical that if I should opt for an insurer who is ready to give insurance without underwriting. The quoted premium is Rs 33,000 (annually). Please guide
– Sudha Krishnan
Every insurer has a predefined & authority approved underwriting guidelines to decide whether to offer a policy or not for their various health insurance plans. Before buying a policy please check for coverage features like sub-limits, co-pay clauses, room rent restriction, disease capping, pre-existing waiting period, exclusions related to diabetes and its complication or any other restrictions.
I am a 35-year old working man. Five years back, without much research, I had bought a joint insurance cover of Rs.5 lakh for my parents. Presently, my father (age 62) is under medical treatment and it is likely that I will need to admit him in ICU in the next 5-6 months. From the admin of one of the hospitals, I understand that in the instance of his admission in ICU, I will not be eligible for the claim. They informed me that while taking insurance, my father was normal and the illness only developed later. In this case, should I buy a new insurance cover or should I speak with the insurer and see the eligibility. Please guide.
– Krisha Desai
Firstly, please enquire about the eligibility, policy terms and conditions details with your insurer. As mentioned your father will require admission in ICU, most of the insurers will ask for details of medical condition suffering, before purchasing the policy. The eligibility of a claim is subject to the terms & conditions of the respective policy.
Shreeraj Deshpande, chief operating officer, Future Generali India Insurance Company
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