back arrow Back

Queries about Health Insurance

reply Share
13 Sep, 2021 by  Info Seeker

Hi,

I am purchasing a health insurance for first time. I have a few questions on the same-

  1. If a person develops lifestyle disease post 2-3 years of purchasing health insurance, does the health insurance company need to be informed? Also, does the renewal premium increase?
  2. For the above, is there a duration where insurance doesnt cover it?
  3. If someone increases policy coverage amount after 4-5 years, does the waiting period for PED start again for increased amount?
  4. Does super top up consider employer insurance payments as base amount?
  5. On portability, does pre-existing disease period restart?

Thanks in advance

like like
0
Health Insurance
Purchase
Basics of Insurance

3 Answer

Post
Regional Director, Amicus Insurance Broking
  1. Any illness or condition contracted after taking the policy and continuously renewed are covered without need for prior disclosure to the insurer.
  2. Not applicable.
  3. Yes
  4. For super top up, there is no requirement of base policy. Whether you have a policy or employer provided policy or no policy at all is not relevant.
  5. No
like like
0
icon-comment 0 Comments
icon-reply Reply
15 Sep, 2021
AVP Insurance - IDBI First Bank

Hi,


1. No. You need not inform the insurance company if you develop a lifestyle disease 2-3 years post buying your health insurance.

Health insurance premiums increase as per age bands and if there is a revision in the rates for the said product by the insurance company.


2. No


3. Yes. The waiting period for thr increased amount of SA will start again.


4. Yes. It doesn't matter from where you bear the deductible equivalent expenses of the super top up policy. It can be from a retail insurance, group insurance, employer insurance or your own pocket. The super top up will trigger once the expenses go above the stipulated deductible.


5. No.


Hope this helps!


Cheers :)




like like
0
icon-comment 0 Comments
icon-reply Reply
17 Sep, 2021
CEO, Insurance Samadhan

Dear

Compliments on right decision .

Answer

1. It is a one year renewable contract and material disclosure need to be made at policy commencement. It is advisable to inform but your renewal and rates are assured as per IRDA . Proper declaration avoids complications later on .

2. Each health insurance contract has waiting period , PED exclusions , sublimits and specifiv waiting for diseases.

3. Yes

4. Super Top up begins after a deductible amount . This smount can come from any source .

5. No

Hope this suffice


like like
0
icon-comment 0 Comments
icon-reply Reply

Tired of dealing with call centers!

Get a professional advisor for life!

LIFETIME FREE

Rs. 1799

or

Discover the best tips for insurance every week!

Beshak is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and does not have any alliance or association with any Insurance business.
© Copyright 2023 Beshak Solutions Pvt. Ltd. All Rights Reserved.

Disclaimer: The content on the website is purely for information purposes for the public at large, and does not constitute personal financial advice for a specific individual reader.
If you are reading this, it means you love reading the fine print. Why not get paid for what you love doing - Join us by writing to info@beshak.org now 🙂