Honest insured will benefit, including new illnesses
Ever since Corona came along, people have started taking health insurance very seriously. There have been some significant changes in the health insurance guidelines by the insurance regulatory body IRDAI , and now the health policy is coming in a new incarnation from 01 October. Under which more illnesses and other hospital expenses will now be covered. The insurance company allows the customer to make a claim after a certain period of time after selling the insurance. This waiting period can range from 30 days to 1 year. However, insurers have now been asked to fix this period as well.
According to the new guidelines, more diseases are now included in the health insurance policy. Even in the future the insurance company cannot refuse to cover the insured if he falls ill due to the work he is involved in. Apart from this, treatment of mental illnesses, some age related ailments, congenital illnesses will also be covered in the insurance. Apart from this, some common diseases like neurodevelopmental disorders, genetic diseases as well as diseases related to monopos can also be treated with health insurance.
Surgery such as cataracts and knee replacements are also required with age. That too will now be part of the health plan. Apart from this, people working in the unit of hazardous chemicals have long term respiratory as well as skin problems. This disease will also be included in the list of health insurance. In addition, if your insurance company does not want to cover diseases such as neurological disorders, serious kidney disease, HIV / AIDS, it must provide information in the format prescribed by the insurance regulatory body.
The IRDAI had clearly stated last year that if a customer has paid premium for eight consecutive years, his claim cannot be rejected under any circumstances except in certain circumstances. This is considered to be a great relief for honest policyholders. Earlier, there were cases in which the company often rejected the insurance even if the insured had paid the premium for 10 years.
The guideline for
pre-existing diseases has also been changed and the definition of pre-existing disease (PED) has also been changed. Only a disease diagnosed four years before the policyholder has taken out insurance will fall into this category. Similarly, treatment or medical advice given by a physician 48 months before the policy is issued will also be considered in this category. Apart from this, if any disease occurs within three months of taking insurance, it will also be counted in PED. IRDAI has stated that it can exclude PED from insurance by giving full information to the customer so that the policyholder can get the required insurance even if he has PED. The IRDAI has also made it very clear that the insurer must pass the claim as per the rules if the customer suffers any illness after taking the insurance. The list of these diseases also includes Alzheimer’s, Parkinson’s, HIV AIDS, obesity.
Premium to be
paid in installments In June 2020, IRDAI stated that the insured can also pay premiums in installments. This installment can be paid monthly, quarterly or even every six months. However, insurers were allowed to decide whether to allow the customer to do so. This provision means that if you have taken out insurance with a premium of Rs.