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insurer has also withdrawn a clause from its policy that excluded cover for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.
Source: http://insuringindia.com/
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