28/05/2019
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Your Health Insurance Claim can't be rejected after 8 years
If you are planning to purchase a new insurance plan, one of the biggest concerns is whether you can trust the insurer. You pay the premium for many years. However, when you/your family makes the claim, will it be honored? You don't want to be short-changed. This problem was taken care off in life insurance policies, where your claim can't be rejected after 3 years.
IRDA, the insurance regulator, has made an attempt to address this concern in health insurance policies too. It has proposed that health insurance claims can't be contested after 8 years of policy purchase. Additionally, it has proposed to remove ambiguity from the definition of pre-existing illnesses.
In this post, let's find out more about the IRDA proposals and see how these changes affect you. Click here to continue.
Best Regards,
Deepesh Raghaw