In case of health policies from two insurance companies, how ill the claim be made?
The claim will usually settled by both the companies in a rateable proportion depending on the coverage amount under each health insurance policy For example a person has a policy with Sum Insured of Rs.3 lacs and takes another policy from another insurance company for Rs.3 lacs. In the event of claim: • If claim amount is Rs.1 lac, both the Policies will contribute. i.e claim will be settled on rateable proportion. • If the claim amount is 7 lac. Both the Policy will pay upto the respective sum insured.
