Wednesday, August 21, 2013

New India Assurance brings a premium relief for diabetes, BP patients

Country’s largest general insurance company, New India Assurance has announced that it would not charge extra premium for patients with diabetes or hypertension under its revised health insurance policy. The insurer has also withdrawn a clause from its policy that excluded cover for ailments caused by consumption of tobacco. This move will not only come as a relief to a huge urban population, but it will also eliminate disputes arising out of wrongful rejection of claims.

As of now, the insurer has been charging 10-20% extra premium to health insurance seekers suffering from these two conditions. Almost every insurer has been charging as high as 30-40 percent premium for offering health insurance cover to individuals with such existing ailments at the time of issuing policies. Also, some insurance companies continue to refuse offer covers to individuals with these conditions. 

Mr. Antony Jacob, CEO of Apollo Munich, a leading health insurer said, “In case an individual suffering  from chronic conditions such as diabetes or hypertension, it is evident that the health risk applicable on this particular individual will be greater than a similar individual without such problems. This leads to the insurance company applying an extra premium on health insurance policies of an individual suffering from such conditions.”

Now, the new mediclaim policy allows health insurance cover up to Rs 8 lac as against earlier Rs 5 lac. “Senior citizens will also be given a one-time option to increase their sum insured if they have had two claim free years”, said Sri Segar Sampath Kumar, Head ( health insurance), New India Assurance.

The new policy has come into effect from July for new sales and all renewals from August 2013 will be under the new terms. 


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