NON-LIFE INSURANCE: Bhargav Dasgupta

Is there any cover for pre-existing diseases other than diabetes and hypertension? I want to buy a policy for my mother (56) and father (61). What would you recommend? Both have spondylitis and had slip disc. My mother also had osteoporosis and a bone growth in her ankle.
A health insurance policy covers declared and accepted pre-existing diseases subject to specific waiting periods. The pre-existing diseases declared on the proposal form are reviewed by the underwriters and accepted subject to the underwriting guidelines of the company. Not only diabetes and hypertension, all pre-existing diseases, including spondylitis, slip disc, piles and osteoporosis, are covered subject to waiting periods, which usually vary from two to four years.

Acceptance of slip disc and spondylitis is normally subject to their duration and intensity. In your case, considering your parents’ age, I would recommend that you choose a policy which has a higher sum insured. Some health insurance products are not for those above 55 or 60 years. However, your parents do have a choice of health insurance products available in the market.

I have a householder’s policy. I am planning to modify my house and add an extra floor. Will the policy’s term and conditions change? As I already have a householder’s policy, what are the options I have to cover the new floor? Can I inform the insurance company about the changes and increase the scope of the current policy?
A comprehensive householder’s policy aims to cover the insured for damage to any part of the building or contents of the house. In case there is any addition/modification in the insured building or a significant addition to the contents, the insured is advised to get the coverage increased in the original policy to continue being adequately insured. The insurer needs to be informed about such changes and the sum insured in the current policy can be increased by paying an additional premium.

I will be travelling for two months in Europe. What would be the scope of overseas travel insurance? Does this cover pre-existing diseases?
Overseas travel insurance covers unexpected medical and non-medical expenses when the insured is travelling abroad. The coverage includes medical expenses for in-patient & out-patient treatment and costs related to diagnostic tests and transportation. Overseas travel policies also provide for worldwide cashless hospitalisation and may include non-medical benefits such as baggage loss/delay, hijack distress, trip cancellation & interruption, and even home insurance for building & contents.

There are a few plans available in the market which cover pre-existing conditions. However, since a travel policy is intended to take care of the insured only during travel, this coverage is provided only in case of life-threatening situations or in case of acute pain till the patient is brought to a stable condition.

The writer is managing director & chief executive officer of ICICI Lombard General Insurance Company Ltd.

Send your queries at yourmoney@bsmail.in