Do well being insurers have particular merchandise for most cancers sufferers? 

Is there any insurance coverage for most cancers sufferers or those that have already been recognized with most cancers or have been handled for it?

—Name withheld on request

Disease administration merchandise are uncommon in India. Historically, insurers have been reluctant to challenge even regular medical insurance merchandise to individuals who have suffered a significant important sickness. However, of late, some insurers are experimenting with merchandise for folks with particular illnesses corresponding to cardiac or most cancers points. Some standalone well being insurers have particular merchandise for most cancers sufferers. This would work just like a daily medical insurance. So, it is not going to cowl pre-existing illnesses together with most cancers for a selected ready interval. The principal benefit of this plan is that it’s more likely to get issued to an individual with a historical past of most cancers, than a daily medical insurance plan.

I maintain one medical insurance. I will likely be hospitalized. I don’t wish to make a declare on my insurance coverage now; nevertheless, if it happens once more after 3-4 years, I’ll go for a declare. I wish to do that to safeguard the bonus accrued on my insurance coverage, I don’t wish to forego my bonus insurance coverage now. Am I doing one thing incorrect?

I wish to know if I’ll nonetheless be required to tell the insurer of this hospitalization and coverings?

In the 12 months 2025 (I’ll nonetheless be paying my premiums) what is going to occur once I make a declare on my insurance coverage for a similar therapy/illness? Will my declare be rejected as a result of I didn’t inform the insurer now about it?

—Name withheld on request

Unlike in a motor insurance coverage, the no-claim bonus in medical insurance is obtainable by advantage of upper sum assured, and never discount in premium. Rather than attempt to predict future claims and match that with no-claim bonuses, it’s best to simply purchase a better sum assured by means of a top-up insurance coverage. Another choice is to extend the sum assured in your current coverage on renewal. Many insurers supply this facility with out extra underwriting. Another cause why you shouldn’t maintain again from submitting a declare is that no-claim bonuses in medical insurance typically doesn’t develop into zero once you make a declare. So, in case of a declare, your bonus will come down by one stage. Such a loss could be restored within the following 12 months, if there is no such thing as a declare. Unless the medical value of the hospitalization may be very low, my suggestion could be to file a declare. Insurers typically require you to reveal all medical circumstances earlier than coverage issuance. There isn’t any particular requirement to tell the insurer about medical points after you’ve gotten purchased the insurance coverage, if you don’t intend to make a declare.

Abhishek Bondia is principal officer and managing director, SafeNow.in.

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