Is there a provision to change the insurance agent? My agent did not help me with my health insurance claim papers. I had to do it entirely on my own. As a senior citizen it was difficult for me to do all the paper work and follow up with the company – CP Rao

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If you are not happy with the services of your insurance agent, you can change your health insurance agent at the time of renewal. All that is to be done is to inform your insurer about the new agent via a written letter along with your renewal cheque at the time of renewing your policy.

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Is it possible to renew medical policies after paying a penalty like it is allowed in case of life insurance policies? – Bharat Singhal

Health insurance policies can ordinarily be renewed every year. In case you happen to miss the policy renewal, a grace period of 30 days is allowed for the renewal of the policy. If renewed during this period, there is no loss of continuity benefits. In case the policy lapses, you will need to buy a new policy and it will be treated as a fresh policy where it will be subject to fresh waiting periods, and bonuses accrued (if any) will not be considered. Since the application will now be treated as new, acceptance will be based on current health conditions in line with the terms and conditions of the policy.

By Pushan Mahapatra
(The writer is MD & CEO, SBI General Insurance)

Source: DNA Money