I have two heath insurance policies with two different insurers. Can I prefer a claim for the single illness under both the policies?
Indira Shetty, Mumbai
A general insurance contract is based on the principal of indemnity and contribution. The application of principal of indemnity ensures that the insured does not make any profit from the contract of insurance. Therefore, even if you have two insurance policies to cover the same risk, you cannot get full claim under both the policies. You can, however, file your claim with both the insurers but insurers will pay the claim in the ratio of their respective sum insured. In other words, you will get the reimbursement of the expenses incurred which will be shared by both the insurers in the ratio of cover granted.
