What happens to the Health Insurance Policy coverage after a claim is filed?
After a claim is filed and settled, the coverage of your Individual Health Protector Plan will be reduced by the amount that has been paid out on settlement. For Example: In January you start a policy with coverage of Rs 5 Lakh for the year. In April, you make a claim of Rs 2 lakh. The coverage available to you for the May to December will be the balance of Rs.3 lakh.
However, if you have a Sum Insured equal to or above 1.5 lakh, then you will also benefit from the Reinstatement Feature of our health insurance plans. This feature will ensure that the sum insured of your policy will be restored to its original amount after an appropriate premium has been charged for the same. This process will ensure that the full amount of the basic sum that was insured is available to you for the remainder of the period that is due to the policy opted for the reinstatement option.
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