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Sum Insured in health insurance guarantees financial coverage in case of loss due to an insured peril or an uncertain event such as accident, hospitalization, fire damage, etc. The uncertain event may or may not happen during the policy period. This uncertainty is covered under the term Insurance.
If your sum insured expires before the policy period, Max Bupa (Nivi Bupa) Health Insurance Company would refill/recharge your sum insured up to the existing limit without any premium to be paid. The reinstated sum insured can be used only for the treatment of new illness and the reinstatement is generally done only once during the policy period unless and until you opt for unlimited reinstatement option in which the sum insured would be reinstated unlimited number of times. With unlimited refill option customer can avail unlimited number of refill in case the sum insured is exhausted during the policy period.
Yes. The sum insured can be increased at the time of renewal. A formal request is to be made to your insurance company to increase your sum insured at the time of renewal. It is to be noted that the extra premium for the increased sum insured should be paid to the insurance company and other conditions such as Pre existing waiting period, specific disease waiting period etc. should be satisfied for the increased sum insured.
There are different health insurance policies for parents provided by different insurance companies Coverage, Flexibility, Co-Payments, Maximum Age to Renew, Pre-existing Illnesses and Waiting Periods, Simple Claim Process, Day-care Procedures, Network Hospitals.
Health insurance policy status can be checked by contacting the intermediary from whom the policy was taken or alternatively the insurance policy status can be found on the mParivahan app which displays the start date and end date of the insurance policy. If you can remember the intermediary from whom the policy was taken you can talk to them about the status of the policy or in case if you have taken the policy from PolicyBachat then you can call our customer care to enquire on the insurance policy status.
Cumulative bonus is the bonus given to the insured customer in the form increased sum insured for not making any claims during the previous policy period. The bonus would be added to the basic sum insured under the health insurance policy. Cumulative bonus keeps on increasing for each claim free year until it reaches 150-200% of the basic sum insured. The cumulative bonus can be utilized by the insured customer at the time of claim in addition to the basic sum insured.
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