Even if you take health insurance (Health Insurance Tips), there can be problems in times of danger. Will the insurance company give you additional benefits if you are diagnosed with a new disease after taking the policy? What should you do in that case.

We buy health insurance because the insurance company will bear the medical expenses if necessary. Which helps you financially in times of danger. But did you know that many policies have a clause that can create problems for you in difficult times? This clause is called the material change clause.

Why is there concern about this clause

Prashant Matre, President of General Insurance Agents Federation Integrated, recently expressed concern about this clause. He said that some insurance companies are adding provisions to their health policies that can affect the rights of customers. So, if you develop a new disease after buying health insurance, know what to do.

According to this clause, if there is any change in your health after purchasing health insurance, such as a new disease, major surgery or a serious health problem, then you must inform your insurance company about it. This gives the company the right to make some changes at the time of policy renewal. Such as increasing the premium, reducing the coverage, or adding new conditions.

According to the president of GIAFI, some companies such as Acko, ICICI Lombard, SBI General and Juno General Insurance, include this clause in some health policies. However, experts say that if the insurance company uses this clause to increase the premium or reduce the cover after an illness, then it can be considered a violation of IRDAI rules.

What do IRDAI rules say?

1 As per IRDAI rules, health insurance policies are renewable for life. The insurance company can refuse to renew the policy only in cases of fraud or concealment of information.

2 Changing the terms of the policy or increasing the premium solely due to a claim or illness will be considered unethical.

3 Any changes can be made at the same time only if they are equally applicable to all customers and not to any individual.

What to do if a new disease develops?

Inform your insurance company immediately – If you develop a new disease, do not hide it; instead, inform your insurance company in writing. This reduces the chances of a claim being rejected later.

Submit all medical reports – Share the medical reports, doctor’s prescriptions and treatment records of your diagnosed disease with the company.

Ask the company in writing – If you develop a new disease, ask the insurance company in writing about its impact on your policy. Ask in writing whether the premium will increase, whether the coverage will change, or whether any new conditions will be added.

Complain if you find any change wrong – If the company makes any changes to your policy that you do not like, you can file a complaint with IRDAI or the Insurance Ombudsman.

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A digital media professional with 4 years of experience, skilled in online content creation, media and information work, his goal is to regularly bring updates on government projects, scholarships and jobs to his readers.

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