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Health Insurance FAQ

Faq Questions

What is the procedure for change of address for medical insurance?

You can change the address by giving a request letter to the insurance company on plain paper and the insurance company will pass the endorsement and give a copy of same to you. Kindly remember to send same to your TPA also so that they can incorporate same in their records.

Why do I need Health Insurance?

Healthcare is expensive. Technological advances, new procedures and more effective medicines have driven up the cost of healthcare. This increase has to be borne by the consumer, making treatment unaffordable for too many. Health Insurance overcomes these obstacles so that you remain free of anxiety regarding your health. Think for a moment about the enormous medical costs you would incur if you suffered a major accident tomorrow or were suddenly stricken by an illness. Uninsured people live with such risks every day. Health insurance seeks to shield you from that risk. It provides the much needed financial relief. You also get tax benefit under section 80D of the Income Tax Act.

What is Health Insurance/Mediclaim?

Health Insurance/Mediclaim is protection against medical costs. A health insurance policy is a contract between an insurer and an individual /group in which the insurer agrees to provide specified health insurance cover at a particular premium. The health insurer usually provides either direct payment (cashless facility) or reimburses the expenses associated with illnesses and injuries.

I am already having health insurance and want to increase sum insured, what should I do

You can take super top up plan and increase your sum insured to desired level.

Can a person have more than one Health policy?

Yes. But each company will pay its ratable proportion of the loss, liability, compensation, costs or expenses. E.g. If a person has Health Insurance from company X for Rs. 1 Lac and Health Insurance from company Y for RS. 1 Lac, then in case of a claim, each policy will pay in the ratio of 50:50 up to the SI.

What is Cumulative Bonus?

A. An increase in the Sum insured by a specified percentage for every claim free year, subject to a certain maximum. An important point to be remembered is that the policy should be renewed without a break to avail of the cumulative bonus.

What are Pre-Existing Diseases?

Any condition, ailment or injury or related condition(s) for which insured person had signs or symptoms and/or was diagnosed and/or received medical advice/treatment within 48 months prior to his/her health policy with the company. Preexisting diseases will be covered after a maximum of four years since the inception of the policy.

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