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Do you have to report health issues after you have bought the insurance policy?

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04 Sep, 2020 by  Questions On Social Media

I have following doubts sir.

My parents have national insurance for one lakh from past 5 years.At the purchase time'my parents did not have any health issues.Right now my mother is taking medicine for bp occassionsly as an d when bp comes.

My father takes some tablets for memory.Apart from that they dont have anything.They are age 72 father and mother 62.


Each year at the time of renewal'the agent takes money a nd renews it.we have not said to him about our current health situation nor he asked.my mother says 'it is just occassional bp problem so it might not be neccessary to inform the agent about it and abt my father she feels same for my father.


Right now as per yur opinion i have taken 3 lakhs insurance from oriental pnb senior apart from national insurance as well-To my surprise they did not ask any details and issued the policy.

In general we are financially weak.




So now keepinf all this info are we are on right track so as to not get rejected if we have health problems or do i need to rectify any thing to be on right path.


Apart from this insurance problem' sir my parents havve 4 lakhs saving and they are dependant on that for some income from it with less risk.

What investment options might be good in tbat situation.


Could yu let me know about these two issues mentioned

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Health Insurance
Parents-Health-Insurance

4 Answer

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04 Sep, 2020
Founder, Beshak

Here are the answers:

  1. You are required to inform your insurer about every disease/health condition before the policy is issued.
  2. You don't need to inform your insurer about any disease that has occurred after the policy has been issued.
  3. If you are upgrading your policy, the additional sum insured is treated almost as a new cover - hence at the time of upgrade you need to inform about all diseases/health conditions/symptoms/medical history before the upgraded policy is issued.
  4. If your mother had BP problem before the issuance of the policy - it is important you inform the insurance company in writing - this will avoid any kind of claim disputes in the future. Do not ignore this advice.
  5. We cannot provide you advice on investments. We are focused only on Insurance.


Hope this helps :)

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18 Sep, 2021
vijay
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18 Sep, 2021
vijay
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09 Sep, 2020
Co-founder, SureClaim

About your first question, I have a two part answer to add on to what Mahavir has already written.


1) Since you have 1 lakh sum insured policy, your room rent limit would be 1000, which is practically useless as in your claim hardly anything would get paid. Given your parent's age, I think you are paying a hefty premium. You should check carefully whether even to continue this policy or not.


2) Next, if you were to claim, insurance is going to ask for history of BP. While your claim will be payable, but several questions will be raised about history of BP and your paperwork should be in order.


If I may suggest, kindly email your policy to me on anuj@sureclaim.in so that I can advise on whether this policy is worth continuing. I may also be able to help prepare you for the paperwork needed for a future claim.

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12 Sep, 2020
Shravan Kumar
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03 Aug, 2021
Anand Maskara

You have not hidden anything when you filled the form or misrepresented. Second, its the company choice to get the medicals done or not and their discretion cannot be questioned.

Hopefully you shall have no need but in case they need, and when financially possible for you, take a top up plan for your mother (max age is 65 years) before she turns 65. Thumb rule is "Do not discontinue the old policies for senior citizens, port is a much better option."

Start renewing policy yourself (online) as there you may have the chance to increase sum insured, companies offer based on past claims and their policies.

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14 Sep, 2022
Sachin Tejuja

Dear member yes you need to get it updated in your renewal or get it endorsed by submitting the medical records else claim may be denied as health insurance is a yearly contract

 

Further most of the nationalised insurers do not cover modern treatment s and OPD and have room rent restrictions hence it will be advisable to go for a senior citizens top up policy from a private insurer you may connect with me on            for more guidance on the same

 

with regards to 4 lakhs savings lic has a pension plan with lock in for 10 years known as Pradhan mantri vay Vandana yojna which is advisable as you have mentioned less risk

 

 

 

 

 

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22 Sep, 2022
Shravan Kumar
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