Can I seek health insurance claim from my own company and spouse’s company in case of an exigency? Can I shift to another policy once the limit in one of the policies gets exhausted?
-Name withheld on request
Yes, you have an option to claim under any one policy or utilise the sum insured under either and claim the balance under the other. Once you have exhausted the sum insured under one policy, you may opt to claim the balance amount from the other policy, but it may require you to provide the certified copies of the original bills and the copy of actual disbursement by the first insurer, to the second insurer. Companies may also choose to apply contribution clause, which means that the claim may be paid by each of the policies in the proportion of the respective sum insured.
Additionally, it is wiser to purchase a health top up / super top up policy, which can come in play in case of the base policy sum insured of the company’s insurance cover is exhausted. Today, such top up plans are offered by many insurance companies with wide range of options for deductible as well as sum insured amount.
I would like to take health insurance policy for my parents who have retired last year. Both are 60 plus now, please recommend a health insurance policy that will take care of future medical emergencies. Kindly share what will not be covered in the health insurance policy?
-Name withheld on request
Generally, the health insurance plans that are available in market have restriction on entry age for individuals above 60 years. However, there are policies specifically available for senior citizens that provide coverage to individuals above 60 years. Every policy has different coverage and exclusions; It is recommended that you assess the coverage and exclusions of each insurance provider to find a best fit for your parents.
(Subramanyam Brahmajosyula is head – Underwriting & Reinsurance, SBI General Insurance)