Whom is called proposer in Health Insurance?
I wonder who the proposer is while filing the details in Health Insurance? Why Max Bupa asking Proposer's unique details for creating e-Insurance account? I think Details of Applicants means the people who are to be insured? Is it correct?
One more question, if we gave any incorrect details like proposer details, within how much time we have to correct it? Can we correct until the expiry of Policy? I know all these are noob questions, please clarify me as I'm new to all these things. Thanks.
Proposer is the applicant/policyholder/owner/premium payor of an insurance policy.
Insured members are all people who are insured under a policy. Proposer may or may not be an insured member.
When you open an e-Insurance account and register your active insurance policies, it will prompt you for important details like proposer details, insured member info, etc. Nothing abnormal about it.
Change/correction of proposer details:
The KYC details of proposer like mobile no, email ID, address, etc can be updated anytime during policy period.
In case of death of proposer, the nominees in the policy can also upgrade one of the insured members as the new proposer by submitting a change request form along with required supporting documents.
Hope this suffices. Feel free to ask if we haven't answered any of your questions.
It does makes sense to me. Thanks for your prompt response.
I have one more question, suppose If I want to take the a health insurance for my mother, give the Proposer as my mother, fill other details and premium pays by me. Will it makes difference being declaring as mother as proposer than me and filling all the details of my mother by me? I'm not sure, will insurer evaluate all these things at the time of claim and make rejection? Could you give some light on it, you can add more points if they needed to be known.
The Proposer should be the premium payor. I believe you should be the Proposer for your mother's health insurance as it will also give you the option of claiming upto Rs 50,000 in tax exemption for premium paid towards your mother's health insurance.
For any compelling reason, if your mother has to be the Proposer in her insurance, then she should also pay the premium from her own Bank a/c or her own credit card.
Hope this helps.
It made sense. Thank you.
I have taken Corona Kavach policy from Max Bupa and I gave wrong details in Insured Person field and submitted by mistake. I gave instant mail to the customer care to change it and it wasn't addressed on time and got an email after free look period I tried to fought with them but didn't receive any email from them. Now I want to raise a flag, what you would suggest me to now? I don't think I would get my money back or policy get corrected. Please share your thoughts on it.
Hey Jay, what exactly is the error in insured person details?
Or rather, what kind of change are you requesting in details?
Normally, any kind of change is allowed during policy period and an endorsement is issued.
Hi Anuj, I have given my name instead of my mother name in insured details. Yes, it was a blunder I did, it happened innocently. The policy is Corona Kavach policy, when I had a call with customer care, they were telling that they couldn't change it. I'm not sure why they can't do it. Hoping they would correct the details. Please give your suggestions.
Can anyone please clarify my question?
By seeking to replace your own name with your mother's name as Insured member in the policy, you are seeking to alter the life on which your contract is centred. I am afraid it may not be possible.
You can seek correction in spelling, change of surname, etc. But, an altogether change of life insured is unheard of.
I agree with you, actually I remember I had given correct details, but at the end it was unfortunate to see my name as insured and paid a premium which was not equivalent to my category. I hadraised a request seeking help regarding this, they didn't consider my request, at the end of free look period, they had asked to cancel the policy, which I couldn't do it. I'm not sure whom to blame and I raised request to them again. This is just Corona Kavach Policy, why we can't change the details when we can provide whatever details they needed. I wonder if anyone ever come across this situation and didn't get resolution. Really it is sad to know that I would lose my premium and I would allocated with 2 Kavach policies with different pricing. May be it is a lesson for me to review the policy submission twice/thrice.
If you believe that the Insurer has done incorrect data entry, you can raise it with the Grievance Head of Max Bupa with all supporting documents (email exchange with them, proposal form copy, etc). You can also ask Max Bupa to retrieve details of all calls between you and them over which proposal form data was provided. The Grievance Head shall sincerely look into your case.
Alternatively, you can also cancel your Corona Kavach policy on a pro-rata basis of its less than 6 months old.
These should be your logical next steps.
Thank you very much for your reply. My concern is they didn't look my issue within the time and had raised the issue as claim issue instead of incorrect details in policy document and closed it. I have raised a request to Grievance team and attached all email threads exchanged and attached the Policy document. I hope they would consider my request and look into it. I hope I would get reply from them, fingers crossed.
I didn't get the second point you have said, I see we can only cancel the policy within 7 days of policy issuance for Kavach. If I'm not wrong, will my refund amount comes equivalent to the number of days I have been with policy. Isn't it? Please give more points about it. Thanks again.
I'm sorry to ask this, I know all of you are busy with other work, I feel my issue is priority, that's why I'm pushing this more. I want to get resolved, you people are doing amazing work who are in needy like me. Many thanks for this creating community and answering all queries. Could you please guide me with the above issue?
Pro-rata method is applicable for cancellations after freelook period.
Cancellation within 30 days - 75% refund
31 to 90 days - 50% refund
91 to 180 days - 25% refund
Post 180 days - No refund
Check your policy copy if these rates are applicable in your case.