How to benefit from insurance claims if you have two health insurance policies


I am covered by individual health insurance. Can I take out two health insurance policies with two different insurance companies? How can I avail myself of a claim in such a scenario?

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Yes, you can purchase multiple health insurance policies depending on your needs and your ability to pay premiums. It is recommended that you opt for a basic insurance policy, for additional needs, seek health insurance coverage with a higher deductible, which is usually available as supplemental coverage. You can benefit from a deductible equivalent to your basic insurance policy and take a large sum insured under the new policy. The premium for such a supplemental policy is very low and you get high coverage and better benefits. Remember that the supplemental policy will only pay for expenses in excess of the deductible amount. It will be subject to waiting periods, pre-existing illnesses and other conditions.

If the claim is within one of the insured amounts of the policy, you can claim it fully under the policy. If the sum insured in one policy is insufficient, you can claim the claim under one and the balance under the other policy. You must present the original invoices and documents; you can claim all health insurance policies. You must obtain the certified documents and double stamps of invoices from the insurance company you have claimed from and submit the remaining documents for the claims to the second insurance company.

I have a health insurance policy. If I claim in the current year, what happens to the renewal premium? What if I don’t make a complaint?

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With any claim in the policy, generally your premium will remain unchanged, except for changes that may occur due to age group movement or other factors. However, if it is a year without loss, the sum insured is increased by 5%. This is also called the “Cumulative Bonus”. This increase may continue for each “loss-free year” until the increase in the sum insured reaches 100% of the total sum insured. Almost all health insurance policies offer this cumulative bonus. It is important to refer to the conditions of your policy for more details on the rate of increase and the limit of the bonus percentage.

Atul Deshpande is Manager – Claims, Digital & Projects at SBI General Insurance

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