How to claim critical illness insurance in India? We decode
What's the story
Critical illness insurance serves as a financial lifeline for individuals facing life-altering diagnoses. In India, where out-of-pocket medical costs can rapidly escalate, critical illness coverage offers crucial financial peace of mind. This article will demystify the process of claiming critical illness insurance, empowering policyholders to access their benefits with ease and confidence.
Step 1
Understand your policy
Before raising a claim, carefully read your insurance policy Critical illness policies cover specific diseases and conditions, like cancer, heart attack, or stroke. It's important to make sure your diagnosis is one of the covered conditions. Also, understand the waiting period mentioned in your policy. This is the period between buying the policy and when you can raise a claim.
Step 2
Gather required documents
To start a claim, you need a few documents: a completed claim form from your insurer, medical reports verifying your diagnosis from a recognized hospital or medical practitioner in India, and any additional documents your insurer requests like ID proof and policy documents. Keeping these documents handy will speed up the claims process.
Step 3
Submit your claim promptly
Why acting fast is crucial for critical illness claims Insurers in India require you to inform them and file your claim within 30 days of diagnosis. Missing this deadline can lead to claim rejection. It's important to stick to these timelines to avoid any hiccups in your claim settlement process. This quick action prevents potential issues in the claims process, ensuring you get the financial help you need promptly.
Step 4
Stay informed about your claim's status
After filing your claim, maintain communication with your insurer to monitor its progress. Insurers generally settle claims within two weeks, although they may require additional information or documents. Prompt responses to these requests can help avoid unnecessary delays. By following these steps and providing accurate, timely documentation, you can simplify the critical illness insurance claims process in India.