Health Insurance In India
1
1
COURSE OBJECTIVES
• To understand the health insurance industry
in India
• To know about the health insurance
companies.
• To learn about various health insurance
product features
2
2
PART I
Health Insurance in India: Needs
Assessment and Overview
PART II
Health Insurance Companies and
Products
3
 PART I
Health Insurance in India: Needs
Assessment and Overview
PART II
Health Insurance Companies and
Products
4
What is Insurance?
Insurance is a contract in which an individual
or entity, pays the insurance company in
return for the insurance company bearing
the risk of loss against specified conditions.
The individual receives reimbursement
against losses from an insurance company.
The company pools the clients' risks to make
payments more affordable for the insured.
5
5
The Need for Health Insurance?
• For compensating very expensive health
care treatment
– Over 70% of these spends are out of pocket which leads to lot of
hardships.
– According to a survey by NSSO (National Sample Survey
Organization), 40% of the people hospitalized have either had to
borrow money or sell assets to cover their medical expenses.
6
6
The Need for Insurance
• High propensity to develop life style related
diseases like obesity, diabetes mellitus,
hyperlipidemia, hypertension and
cardiovascular diseases in India
– highest heart disease and diabetes rates in the world
7
7
The Need for Insurance
• Health insurance penetration is at only 3%
compared to other countries like UK
(12.5%), Japan(10.5%)
• Healthcare spend in India is only 4% of it’s
GDP, whereas it has 1/6 of the world
population!
• High level of private spending (75%) Vs low
level of public spending (23%)
8
8
Healthcare Industry Spends Break-up
% Spent
Insurance
and Med
equipment
15%
Diagnostics
10%
Hospital
50%
Pharma
25%
9
8
Country wise GDP spending on
healthcare
Spending as % of GDP
18.00%
16.00%
14.00%
12.00%
Spending as % of GDP
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
China
10
Brazil
India
USA
UK
Global
Comparison of healthcare Spend
90.00%
80.00%
70.00%
60.00%
50.00%
Public Sector Spending
40.00%
30.00%
20.00%
10.00%
0.00%
China
11
Brazil
India
USA
UK
Global
Private Sector Spending
HISTORY OF GENERAL INSURANCE
12
13
OTHER DEVELOPMENT – UNION
BUDGET 2014-15
• Upto 49% FDI allowed in Insurance, through
FIPB route. Controlling stake must be Indian.
• Insurance Amendment Bill to be taken up by
the new Government.
Detariffing Health Insurance
• The cost for an insurance policy was earlier decided
by the Tariff Advisory Committee (TAC).
– Detariffing was implemented in two phases –January 1,
2007: insurers were permitted to increase or reduce
premium by 20% on both sides from their then existing
pricing.
– No change in product terms and conditions
15
Detariffing Health Insurance
• March 2008: Complete freedom on pricing had been granted,
including customisation of product according to each individual.
• The premium amount of an insurance policy can be either loaded
or discounted, based on several risk factors, as against the earlier
norm of fixed premium prices for a particular sum assured in a
category.
16
Detariffing Health Insurance
• On detariffing,
– Rating will be based on the risk profile of the customer;
– Will force insurers to scale up their risk-assessment
capability and give the underwriting function its due
importance in the insurance process.
– Focus on the core function of analysing and pricing
transfer of risk.
17
GROWTH DRIVERS
18
Healthcare Industry - Turnover
Revenue(USD Billion)
300
250
200
Revenue(USD Billion)
150
100
50
0
2010
19
2012
2020
20
Growth Drivers
• Demographic Factors
– India has 1/6 of the world population occupying 3% of the
world’s area
– Geriatric population expected to increase from 96 million
to 168 million by 2026.
– Higher disposable income – rise of double income middle
class families in urban India
– Increased incidence of lifestyle related diseases in India
like diabetes, cardiovascular, oncological etc:
– Increasing awareness of health insurance
- adult literacy rate 61.3% and youth literacy rate 73.3%
21
Growth Drivers
• Economic Factors
– Tax benefits by GOI in terms of higher depreciation on
medical equipment, income tax exemption for 5 years for
hospitals in rural areas, and for employees tax exemption
upto Rs 15000 under section 80D.
– India is one of the emerging destinations for medical
tourism
– Insurance coverage to increase due to higher penetration
from private players. So also institutional insurance and
tertiary care to increase rapidly.
22
22
Growth Drivers
• Economic Factors
– Detariffing the General Insurance industry
– Rationalization of premium rates
23
23
PART I
Health Insurance in India: Needs
Assessment and Overview
 PART II
Health Insurance Companies and
Products
PART III
Product Pricing and Distribution
PART IV
Emerging Problems and Solutions
24
HEALTH INSURANCE COMPANIES
25
PUBLIC SECTOR COMPANIES
1. National Insurance Co Ltd
2. New India Assurance Co Ltd
3. Oriental Insurance Co Ltd
4. United Indian Insurance Co Ltd
26
PRIVATE COMPANIES
1. Future Generali India Insurance Company Ltd
2. Bajaj Allianz General Insurance Co Ltd
3. ICICI Lombard General Insurance Co Ltd
4. Iffco Tokio General Insurance Co Ltd
5. Reliance General Insurance Co Ltd
6. Royal Sundaram Alliance Insurance Co Ltd
7. TATA AIG General Insurance Co Ltd
8. Cholamandalam MS General Insurance Co Ltd
9. HDFC ERGO General Insurance Co Ltd
10. Universal Sompo General Insurance Co Ltd
11. Bharti AXA General Insurance Co Ltd
12. SBI General Insurance Company Ltd
13. Raheja QBE General Insurance Co Ltd
14. L & T General Insurance Co Ltd
15. Magna HDI General Insurance Co Ltd
16. Liberty Videocon General Insurance
27
STANDALONE COMPANIES
1. Apollo Munich Health Insurance Company
limited
2. MAX Bupa Health Insurance Company Ltd
3. Religare Health Insurance Co Ltd
4. Star Health and Allied insurance Co Ltd
28
For Profit
RSBY
Mediclaim
Arogyasri
CGHS
ESIS
Full subsidy
No subsidy
Yeshwini
SEWA Karuna
Kalaignar
Not for Profit
29
30
Competition Structure
Market Share
New India Assurance
National
Oriental Insurance
Others
17.87%
11.06%
United India Insurance
ICICI Lombard
Star Health
17.89%
15.09%
11.94%
14.11%
12.04%
32
33
Bajaj Allianz General Insurance Co. Ltd.
Bajaj Allianz is the joint venture between Bajaj Finserv
Limited and Allianz SE. In a short span of time, the brand
made its way to the leading health insurers in India.
Features like tie-ups with over 3,200 network hospitals and
24X7 call assistance for claims settlement is the proof of
their customer oriented approach.
•Lowest claim rejection ratio among private health
insurance companies
•The only private insurer to make a whopping profit of Rs
100 crore in the last 4 years
•ISO re-certified for claim processing
34
National Insurance Co. Ltd.
Celebrating its 106 glorious years, NIC is the oldest insurance
company in India (even older than LIC). With a 14.11% market share,
National Insurance Co. Ltd. is the third leading player in the health
insurance sector and the fastest growing public non-life
insurer. With its robust network of 1,340 offices and 15,200
employees, NIC serves over 16 million customers.
•Business leader award by NDTV Profit in 2011
•Unserved market penetration award by Indian Insurance Awards in
2012
•Outstanding social contributor of the year award by Indian
Insurance Awards in 2012
•Recognized as best in service in health insurance
•Best customer service by HT-MaRs survey in 2010-11
•Rated AAA/Stable by CRISIL, suggesting a sound financial health
35
New India Assurance Co. Ltd.
New India is the first wholly Indian owned insurance company
in India. With a 17.89% market share, it stands tall as the
nation’s leading general insurance company. Bolstered by a
network of 1068 offices and 21000 employees, New India has
always tried to add an Innovative approach to insurance
products. As a health insurer, New India Assurance launched
mediclaim policies that cover Ayurvedic / Homeopathic and
Unani system of medicine (limited to 25% of the sum insured),
a first of its kind initiative.
•Rated A- (Excellent) by A.M.Best Co., reflecting its robust
financial framework
•The only Indian insurance company to be rated by an
international rating agency
36
Bharti AXA General Insurance Co. Ltd.
Bharti AXA is a joint venture between Bharti Enterprises, India’s leading
telecom business group and AXA Group, a global leader in insurance.
Recently, it has gained huge attention of the market by transforming the
way a claim is perceived by the customer. With their new strategy, they
have managed to speed up the claim settlement process by assigning a
dedicated claim handler to each insured person making a claim. The
brand has also come up with an innovative health insurance product
‘Lifestyle Protection Solution’, that promises to take care of not just
health expenses but also lifestyle expenses of the insured.
•Claims initiative of the year award by Star of the Insurance Awards in
2013
•Best performance in insurance category by Hyundai’s CCS Vendor
Conclave in 2013
•Best product innovation award by Indian Insurance in 2012
37
Oriental Insurance Co. Ltd.
Incorporated in 1947, Oriental Insurance Company is a general
insurance company owned by the Central Government of India. With
over 900 offices and 16,000 employees, Oriental Insurance enjoys
11.94% market share and stands tall as the 5th biggest player in the
health insurance sector.
Its claim settlement ratio is high and so is its Incurred claim ratio
(102.83%), reflecting a high level of trust and reliability, customers
can put in this brand.
•Best public general insurance award by CNBC TV18 in 2011
•Best bank and financial institution awards by MCX in 2011
•iAAA rating given by ICRA, indicating a sound financial health
38
United India Insurance Co. Ltd.
United India Insurance, set up in 1938, is one of the oldest
insurance companies in India. In 1972, as a consequence of
nationalization of general insurance, a number of Indian and
foreign insurers merged together with United India Insurance.
From that point, there was no turning back for the brand. At
present with a 15.09% health insurance market share, United
India stands only second to the New India Assurance in the health
insurance domain. Supported by 1,340 offices and a diligent
workforce of 18,300 employees, the company has insured over 10
million people.
•Innovation in product award for super top-up medicare in 2012
•General insurer of the year – public sector award from
Bloomberg UTV in 2012
39
Future Generali India Insurance Co. Ltd.
Future Generali is a joint venture between Future Group,
India’s leading business house and Generali Group, Europe’s
largest insurance provider. To give you an idea of how
gigantic this group is, Generali Group employs 1,00,000
people serving 70 million clients in 68 countries. Future
Generali differentiated itself as a brand by introducing the
concept of mallassurance channel that is providing total
Insurance solutions at shopping malls.
•A+ rating given by A.M Best global rating agency, indicating
a robust financial framework
40
HDFC ERGO General Insurance Co. Ltd.
HDFC ERGO General Insurance Company Limited is a joint
venture between HDFC Limited, India’s premier Housing
Finance Institution & ERGO International AG, the primary
insurance entity of Munich Re Group. HDFC is renowned for its
customer centric approach and its efficient claim settlement.
HDFC has one of the highest claim settlement ratios among
health insurers (96% CSR in 2011) and has a comparatively
shorter claim settlement turnaround time than most of its
competitors.
•ISO 9001:2008 certified for its claim services
•Best general insurance company in India by IAIR in 2013
•iAAA rating given by ICRA, indicating a sound financial health
41
ICICI Lombard General Insurance Co. Ltd.
ICICI Lombard GIC Ltd. is a joint venture between ICICI Bank Limited,
India's second largest bank and Fairfax Financial Holdings Limited, a
Canada based multi-billion dollar financial services company.
With a 12.04% market share, ICICI Lombard is the fourth largest
general insurance company and the largest among private players. It
boasts of having one of the highest claim settlement ratios in the
health insurance segment.
•Golden peacock award for corporate social responsibility in 2012
•ICICI Lombard Complete Health Insurance was voted product of the
year by Nielsen in 2013
•Best technology implementation award by NASSCOM - CNBC TV18 in
2010
•Most preferred brand in the General Insurance category by CNBC
Awaaz Consumer Award in 2010
42
IFFCO Tokio General Insurance Co. Ltd.
IFFCO Tokio is a joint venture between IFFCO (Indian
Farmers Fertilizer Co-operative) and its associates and
Tokio Marine and Nichido Fire Group, the largest listed
insurance group in Japan.
The brand is known for its customer focused strategies
such as speeding up claim settlements and conducting biannual customer satisfaction surveys.
•Mentioned as an innovative distribution channel in
Capgemini World Insurance Report, 2009
43
L & T General Insurance Co. Ltd.
L&T General Insurance is a wholly owned subsidiary of Larsen &
Toubro Limited which was listed as one of the world's top 50
most reputed companies by Forbes in 2009.
L&T General Insurance leads all the other health insurance
companies in incurred claim ratio. A high ICR (183.40% for the
year 2011-12) is a reflection of how dedicated a company is, in
paying out the financial cover to its customers at the time of
need.
•my:health Medisure Prime Insurance was voted product of the
year by Nielsen in 2012
•Rising star insurer award at the Indian Insurance Awards in 2011
•Technology leader award at the Indian Insurance Awards in 2012
44
Reliance General Insurance Co. Ltd.
Reliance General Insurance is a subsidiary of
Reliance Capital, India’s leading financial services
company. The company was set up with an
objective to make health insurance an easily
accessible product in India through a network of
hospitals and distribution channels. Reliance is
well keeping up with its objectives via 152 offices
spread throughout the country and 24x7 customer
care center.
•First ISO 9001:2000 certified insurance company
in India
45
Royal Sundaram Alliance Insurance Co.
Ltd.
Royal Sundaram Alliance is joint venture between
Sundaram Finance, a non-banking financial company and
Royal Sun Alliance, one of the largest insurance companies
in UK. The company boasts of providing cashless facility in
more than 3000 hospitals throughout India. Currently, it has
over 1700 employees fulfilling the health insurance needs
of over 5 million customers. The company’s high claim
settlement ratio is a reflection of its dedication to its
customers.
•First private sector general insurance company in India to
be licensed since 2001
•First private insurer to introduce innovative health
insurance concepts like hospital cash and cashless
settlement
46
SBI General Insurance Co. Ltd.
SBI General Insurance Company Limited is a joint venture
between the State Bank of India, the largest banking
franchise in India and Insurance Australia Group (IAG), an
international general insurance group.
With a high incurred claim ratio of 122.82% in 2011-12, SBI
gained the trust of the customers and is on its way to
capture a big chunk of the health insurance market this
year. SBI General registered a staggering 481% growth in
premium in 2012.
47
TATA AIG General Insurance Co. Ltd.
Tata AIG General Insurance is a joint venture between
Tata Group and American International Group, an US
based global insurance organization. The brand is a
perfect blend of Tata Group's leadership position in India
and AIG's global insurance leadership.
•Recognized for its effective mobile application in
insurance by Celent Model Insurer in 2013
48
Apollo Munich Health Insurance Co. Ltd.
Apollo Munich is a joint venture between Apollo Hospitals Group, Asia’s
largest healthcare provider and Munich Health, a global health
insurance leader. With such a cogent tie-up, the brand has created quite
a buzz in the market.
Apollo Munich Health Insurance is one of the four stand alone health
insurance companies in India and purports to offer the fastest claim
settlement though its network of 4000 hospitals and 10,000 doctors.
The brand is known for its innovative health insurance plans with unique
features such as 50% NCB in just a year. The following statistics gives an
idea of their customer centric approach.
Cashless authorization done within 2 hours of claim intimation – 90%
Customer satisfaction – 85%
Renewal Rate – 80%
<30 days claim settlement – 95%
49
Max Bupa Health Insurance Co. Ltd.
Max Bupa is a joint venture between Max India
Limited and the UK based Bupa Finance PLC. This
diverse partnership has strengthened the brand
with the best of both worlds, Max India’s local
expertise and Bupa’s global healthcare
experience.
•Health insurance company of the year at Indian
Insurance Awards in 2012
50
Religare Health Insurance Co. Ltd.
Religare Health Insurance Co. Ltd. is a joint venture
between Religare Enterprises Limited, a leading
diversified financial services group based out of India,
Union Bank of India & Corporation Bank. Further, the
brand is backed up by Fortis Hospitals and SRL
Diagnostics. Incepted in the year 2012, Religare is the
youngest player among health insurers. The brand has
made quite a place for itself in the health insurance
segment for its efficient claim servicing.
Some distinguishing features that make it a league apart
from its competitors include availing treatment
anywhere in the world, no claim-based loading and no
maximum-entry age limit.
51
Star Health and Allied Insurance Co. Ltd.
Star Health is India’s first stand alone health insurer. It is a joint venture
between Star Health Investments, ICICI Venture, Sequoia Capital, Oman
Insurance Company and ETA Ascon Group.
Enjoying 11.06% market share, it is the second biggest private health insurer
in India (closely following ICICI Lombard). Imbibed with a rich expertise and
experience in the insurance sector, Star Health has well proved its mettle as
a specialized health insurer striving to bring the best on the table. The two
distinguishing features of Star Health as a brand are its direct tie-up with a
wide network of hospitals and cashless service without TPA intervention. Top
it up with value added services such as free 24x7 physician consultation over
phone.
The brand has been a pioneer in introducing innovative insurance products
targeting at a niche. Star citizen red carpet is one such health insurance
targeted at people aged between 60 and 75. Star cardiac care, their newest
offering is also first-of-its-kind initiative pertaining to the health insurance
needs of heart patients.
52
Insurance Terminology
53
• Agent
An agent is appointed by the insurer to
conduct business on behalf of the insurance
company. An agent must hold a license
issued by the IRDA.
54
• Claim
The process of applying to the insurer for
reimbursement of the expenses incurred for
treatment is called “filing a claim”. Usually,
this process is handled by a service provider
to the health insurance company. This
service provider is called a “Third Party
Administrator”.
55
• Cashless Claim
As the term suggests, the insured can make a claim without
paying any cash upfront.
The insurer or its Third Party Administrator have tie-ups with
network of hospitals and nursing homes called a “network
hospital” across the country. The insured can get themselves
admitted in these specified network hospitals and take treatment
for the disease contracted without any cash payment to the
hospital at the time of discharge.
However cashless mediclaim settlement is subject to the limits
and sub limits which is subject to the sum insured of the policy.
56
• Coverage Amount
Coverage amount is the maximum amount
payable in the event of a claim. It is also
known as “sum insured” and “sum assured”.
The premium of the health insurance policy
is dependent on the coverage amount
chosen by you.
57
• Critical Illness Policy
A Critical Illness is a serious possibly terminal disease, which
is strictly defined by the insurer. Conditions such as cancer,
multiple sclerosis, major organ transplants are deemed as
“Critical Illness”. Most critical illness policies provide for the
payment of a lump sum benefit if the policyholder is
diagnosed as suffering from one of a number of specified
terminal conditions.
58
Critical Illness Policy
Claim under the critical illness policy is payable if during
the policy period the Insured is found to have
contracted a critical illness and survives such critical
illness for at least 30 days from the date of its
discovery.
Any critical illness discovered or discoverable within 90
Days of the inception date of the policy is not covered
under this policy.
59
•
Cumulative Bonus
Each claim free year ensures that you get a benefit known as
“cumulative” bonus - it is similar to “no claim discount” in concept. The
only difference being that instead of giving an upfront discount, the
health insurance company adds more benefits for the same premium
paid. However, the overall amount of these benefits will not exceed a
certain percentage as specified in the policy.
6
0
• Disability Insurance
Disability insurance is a form of insurance
that pays a monthly income to the insured
when he suffers from total or partial
disability. This disability could have been
caused due to either illness or injury, but
affects his capacity to work and
consequently earn.
61
• Domiciliary Hospitalization
Domiciliary Hospitalization is the treatment
of the patient is carried out at home. This
needs to be as per the doctor's
recommendation. Most health insurance
companies do cover domiciliary
hospitalization subject to a certain limit
depending on the sum insured.
62
Domiciliary hospitalisation benefit
• Domiciliary hospitalisation means medical treatment for a
period exceeding three days for such illness/disease/injury
which in the normal course would require care and
treatment at a hospital/nursing home but actually taken
whilst confined at home in India under any of the following
circumstances namely:
• The condition of the patient is such that he/ she cannot
be removed to the hospital/nursing home.
• The patient cannot be removed to the hospital/ nursing
home for lack of accommodation therein
63
•
Domiciliary Hospitalization Exclusions
Expenses incurred for pre and post hospital treatment and expenses
incurred for treatment for any of the following diseases:
o Asthma
o Bronchitis
o Chronic Nephritis and Nephrotic Syndrome
o Diarrhoea and all type of Dysenteries including Gastroenteritis
o Diabetes Mellitus and Insipidus
o Epilepsy
o Hypertension
o Influenza, Cough and Cold
o All Psychiatric or Psychosomatic Disorders
o Pyrexia of unknown origin for less than 10 days
o Tonsillitis and Upper Respiratory Tract infection including Laryngitis
and Pharyngitis
o Arthritis, Gout and Rheumatism
64
Exclusions
• Exclusions are diseases and conditions for which medical
expenses are not covered by the health insurance policy.
Exclusions can be of two types – Permanent and First year.
Permanent exclusions are never ever covered by the policy
for example, AIDS or expenses incurred on cosmetic
surgery.
First Year exclusions are ailments which are not covered for
the first year of health insurance cover, but are covered
subsequently for example surgery for cataract is usually not
covered in the first year but is covered starting the second
year.
65
Exclusions
• Pre-existing diseases
• A pre-existing disease is a medical condition that you may
have had (whether you were aware of it or not) at any time
prior to the commencement of the policy with the insurance
company and this definition also includes any complications
arising in the future from such a pre-existing disease. Health
Insurance companies do not pay for pre-existing diseases.
However, many companies do have specific waiting periods
after which pre-existing diseases do get covered provided
the policy renewals have been continuous and without any
break.
66
Exclusions
• Specific ailments
• The expenses on the treatment of diseases such as Cataract,
Benign Prostatic Hypertrophy, Hysterectomy for
Menorrhagia or Fibromyoma, Hernia, Hydrocele, Congenital
Internal Disease, Fistula in anus, Piles, Sinusitis and related
disorders, Gall Bladder Stone removal, Gout and
Rheumatism, Calculus diseases, Joint replacement due to
Degenerative Condition and age related Osteoarthritis and
Osteoporosis are generally not payable until a specific
period of time, which differs from company to company. The
specific diseases may also differ with the company.
67
Exclusions
• Resulting from War
• Treatment for Injuries or diseases directly or
indirectly arising from invasion of a foreign
enemy, or due to war like operations, will not
be payable by the health insurance company.
68
Exclusions
• Dental Care, Hearing and Vision care
• For the most part these are not covered as
these do not require hospitalization, and in
India, health insurance is mainly associated
with the charges for treatment in a hospital.
So unless, hospitalization is required, these
are not payable.
69
Exclusions
• Cosmetic surgery
• Cosmetic surgery does not affect the life of an individual.
It’s main role and benefit lies only in external looks and
beauty, which are not life threatening. Hence, cosmetic
surgery of any kind, including Botox, liposuction, et al are
not payable by the health insurance company. And it is of
note, that circumcision is now considered cosmetic surgery
under most health insurance care plans and is not covered.
Circumcision, plastic surgery will be payable only if it forms
a part of the treatment of an illness.
70
Exclusions
• Abortion
• As there is still a debate going on, as to
whether to legalize abortion or not and if it
should be payable, abortion is excluded from
reimbursement, until a consensus is reached
and a law is made legalizing abortion in
India.
71
Exclusions
• Alternative therapies
• These include acupressure, acupuncture,
yoga, massage, aromatherapy, reflexology,
naturopathy and all those therapies that do
not form a part of conventional medicine.
These are not covered under health
insurance care.
72
Exclusions
• Diagnostic Charges
• Charges incurred at a hospital or at a nursing
home primarily for diagnosis - including xrays or laboratory examinations - which does
not lead to the conclusion of the existence or
presence of any ailment, sickness or injury,
for which confinement is required at a
hospital or a nursing home, will not be
payable.
73
Exclusions
• Treatment for pregnancy
• Any treatment arising from or traceable to
pregnancy including Caesarean section, is not
payable under your health insurance policy.
• The additional charges
• Any kind of service charge, surcharge, admission
fees or registration charges levied by the hospital is
not reimbursed under your health insurance policy.
74
Exclusions
• Additional Supplements
• Expenses on vitamins and tonics that do not form a
part of treatment for injury or disease, will not be
paid by the health insurance company. But if these
supplements do forma apart of the treatment for a
specific illness for which the person has been
admitted into the hospital, and if it is certified by
the attending physician, then it will be payable.
75
Exclusions
• It is important that you read your health insurance
policy carefully, especially the small wordings that
may be disguising the exclusions. It is important to
always keep a note of those ailments that are not
covered under your health insurance policy, handy.
This way you will, be in a better position to make an
informed choice as far as your healthcare needs are
concerned.
76
Exclusions
• Remember not everything is excluded and
it’s the job of the policyholder to find out
what is excluded and what isn’t.
77
FAQS
•
•
•
•
•
•
•
Entry and Exit Age
Domiciliary Hospitalisation
Critical Illnesses
Day Care Procedures
Pre-existing Diseases
Waiting Period
Free Look period