Insurance with clarity

It takes around T+7 days to dispatch your policy certificate, T being the date of premium being received

A health card is given to all the people insured and has all the details of the insured along with the policy number, insured name and policy end date. You will have to produce this when you avail of the cashless hospitalization facility.

The premium you pay for yourself, up to the limit of Rs.25,000 (Rs.50,000 for those aged 60 years or more), excluding service tax and education cess, is eligible for deduction under section 80D. This deduction is eligible under the prevailing tax laws, which are subject to change.

No, the claim amount you receive under your health policy is not subject to tax.

Any changes made in the policy during the policy period will be made through an endorsement. All the endorsements will be confirmed with an Endorsement letter which is sent to the customer after the changes are made.

There is a waiting period of 30 days from the start of the first time you buy the policy before which a claim cannot be made for any illness, except for hospitalization due to injury or accident.

Cashless and reimbursement are two different ways to settle a claim:
c) Cashless claim is a claim where we pay the agreed claim amount directly to the hospital. You need not to pay the hospital for the claim amount. You are required to inform the insurance company about the procedure or treatment and send all the related paper work.
d) Reimbursement claim is a claim where you settle the bill with the hospital and then send the relevant documents to insurance company, which in turn reimburse you for the agreed claim amount.

Yes, you may file multiple claims in the year, subject to the total amount of the claims not exceeding the sum insured on your policy.

Ans: Yes, It is Lifelong

Ans: Yes, It can be done at the time of renewal

Ans: There is a specific amount limit which has to be paid on claim for the particular disease during policy period is known as Sublimit.

Ans: Such proposal can be submitted for underwriting decision, the acceptance depends on case to case basis.

Ans: Purchasing health insurance is an integral part of financial planning. With the constant increasing prices of healthcare in our country, and with the ever rising instance of disease, health insurance today is necessity. Health insurance provides people with a much needed financial backup at time of medical emergency. Health risks and uncertainties are a part of life. One cannot plan and get sick but one can certainly be prepared for the financial aspect. One of the way to be financially prepared against uncertain health risk is by buying health insurance.

Ans: The family floater insurance covers the entire family in one policy and individual insurance provides coverage to individual only.

Ans: No claim bonus or NCB is a reward given by an insurance company to an insured for not raising any claim requests during a policy year.

Ans: Medical check-up lets you have an update on your health and a reference point for insurers. It depends on each company policy, whether to get the health check up done or take a declaration from the customer.It ensures a smooth claim procedure.

Ans: It means the policy holder will need to pay a portion of the medical expenses on their own and the insurance company will pay the remaining amount.

Ans: All the health details must be disclosed to the insurance company before purchasing the policy. If the insurance company proves the concealment of the pre-existing medical condition, the claim gets rejected.