Health policies: Customers should reveal any pre-existing diseases

This is the only way to ensure that the insurer does not reject claims

Addressing an insurance summit organised by the National Insurance Academy, the Insurance Regulatory and Development Authority of India (IRDAI) chairman Subhash Chandra Khuntia remarked that there is a lot of discontent among customers vis-à-vis health insurance products. A recent paper brought out by the National Institute of Public Finance and Policy (NIPFP) titled ‘Fair play in health insurance’ has also dwelt at length on the problem of denial of claims to customers. 

Premiums rising sharply with age: While medical insurance premiums do rise with age, customers aged 50 and above have, in recent years, experienced sharp hikes in premiums. A person