In the current scenario most companies offer group Health Insurance to their employees but it is also very important to have personal health insurance. Even if you change jobs, this policy will take care of your health and the health of your family. But if a person is admitted to a hospital and has more than one policy, how will it work? Can a person claim compensation from more than one company in the event of hospitalization? The answer is yes and no.
Compensation can be claimed from more than one company and it is possible but no one can claim or claim more than the cost incurred. The most common of these are non-life insurance companies, such as Mediclaim or Health Insurance. In such a case, if the insured has more than one policy, the claim amount is divided or it depends on the sum insured.
The group health insurance scheme is huge in terms of coverage and features. For example, in case of previous illness or maternity, coverage is immediately available. Most personal policies do not cover this issue immediately but have to wait. Ideally, you should inform your company that you already have a policy before taking out an additional policy. Is it beneficial to take more policy? An individual may have a different company policy.
Depending on the needs of the person, for example, an additional policy is taken to cover more than one illness and often a policy is also taken to avail cashless. Many life insurance companies have now become aggressive about health insurance policies. They now also offer Health Insurance and cover some serious illnesses. However, life insurance companies offer pay-out policies. You can claim both places. Life insurance companies give you a certain amount no matter what the cost.
An official of LIC says that the policy should be taken without worrying whether the person will do so or not. He should decide according to his need. A Health Insurance Policy that covers more and more illnesses should be taken. If the coverage provided by the first company is not sufficient then a second policy should be taken. There is nothing wrong with having more than one policy, as claim settlement is now easier.
Insurance companies require original papers at the time of settlement. The advantage of taking a policy from both a Life Insurance Company and a non-life insurance company is that you can make a claim from both the companies. The insurance company of a fixed benefit policy does not require original documents.