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News From Press You can use multiple health insurance covers for single claim

You can use multiple health insurance covers for single claim

Source: Mint Apr 16, 2018

It’s always advisable to have a separate health insurance policy apart from the cover provided by your employer. First you may change your job and the new employer may not provide you with the same benefits, or the health insurance cover provided by the employer may be very little. An individual plan ensures you are sufficiently insured even when you are in and out of jobs, and in case your office policy is not enough.

The good thing is the rules allow you to use the second policy if you exhaust the cover in the previous one.

Suppose you have two health policies—basic indemnity plans that pay for hospitalization—one with a sum insured of Rs1 lakh and the other with a sum insured of Rs2 lakh. In case your bill comes to Rs2.5 lakh, you can exhaust the policy with a sum insured of Rs2 lakh and use the other one to pay the difference of Rs50,000. You can choose the policy you want to make a claim.

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