I have two health insurance policies from two different health insurers. In case of claim what I should do? Is it worthwhile to have more policies from different insurers?
It is advisable to take a higher amount of coverage from a single insurer only
I have two health insurance policies from two different health insurers. In case of claim what I should do? Is it worthwhile to have more policies from different insurers?
Aravind Shenoy, Chennai
If you have significantly increased the scope of your health insurance cover by taking more number of policies, the move is understandable. In the case of claim, you will have to inform both the companies. After their investigations, if the claim is admissible under the policy, they would settle the claim in proportion of their respective sum insured. That is, in effect, you cannot take the advantage of full settlement from both the companies. Instead of going for a number of health insurance policies, it is advisable to take a higher amount of coverage from a single insurer only. This would save you a lot of trouble, in terms of policy renewals, claims and the paperwork involved in the same.