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'Not mandatory to renew the policy through agent'

Monday, January 09, 2017
By Rajiv Kumar

Rajiv Kumar is MD and CEO, Universal Sompo General Insurance Co. Ltd.

My family and I are covered under the Group Health Insurance Policy provided to me by my employer. My mother is 63 years old and has been advised to undergo Cataract Surgery. Does Group Health Policy cover Cataract surgeries?
Sanjeev Kumar, Parel

Yes, Group Health policies do cover cataract surgeries. Generally all policies restrict some diseases including cataract in the first year of operation. Group health policies also do the same. If you have exhausted this one year waiting period, then you can claim the cataract surgery of your mother under your group health policy. But this restriction may vary from product to product. It is advisable to consult the customer care of your Group Health insurer or the appointed TPA to know exactly what the product/policy offers and what are the restrictions involved in your group health policy.
Will there be a discount on renewal premium for my health insurance policy if done through the online channel?
Ajit Purandhare, Colaba

On existing insurance policies which are getting renewed now, the facility of discount would not be available. However, as per the recent announcement done by Honorable Finance Minister to promote digitalisation and boost cashless transactions, discount would be extended for fresh policies purchased through the online platform of public sector insurance companies, discount upto 10% is available . Not only health insurance, but other insurance products like motor, householders, personal accident, travel etc. purchased online will have this discount available.
Is it necessary to renew my policies from the same agent from whom I had purchased the policy?
Sumeet Singh, Chembur

It is not mandatory to renew the policy from the agent. You are now allowed to even change the insurance company itself as per your choice. In a health insurance policy you have the privilege to port the health insurance policy including family cover without losing any of the waiting period credits from your previous insurer to a new insurance company if you had a continuous and uninterrupted coverage and subject to some other terms and conditions. Your application with required documents should be in the time frame stipulated by the new insurer.

In a motor policy too you are entitled to a no claim bonus as per the number of claims made by you in past years if you roll over your previous policy to a new insurer with ninety days of expiry of previous policy. In almost every line of businesses in insurance e.g. Fire, householders, liability etc. you will get underwriting relaxations from your new insurer subject to favorable claims experience in past years while changing the insurance company.
Our family is planning to visit an international tourist destination next year. My father is a Senior Citizen. Will travel insurance policy cover any accidental emergencies of my father?
Arun Patel, Ghatkopar

Generally insurers restrict the upper age limit for travel insurance policies from 60-70 years of age. But there are products available in the Indian market which covers senior citizens from 70+ to 90+ years of age which requires a higher premium on account of age. In your case, you can opt for an ordinary travel insurance policy for rest of your family and a separate senior citizen specific travel insurance policy covering the senior citizens in your family. Senior citizen travel insurance policies like ordinary travel insurance policies cover medical expenses and evacuation including emergency dental treatment, personal accident, loss of checked in baggage, trip delay, delay of baggage, repatriation, hijack, trip cancellation, emergency cash, and home burglary etc. to name a few.

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