Frequently Asked Questions
Find answers to common questions about insurance. Can't find what you're looking for? Contact our support team.
General Insurance
What is insurance and why do I need it?
Insurance is a financial safety net that protects you from unexpected financial losses. It helps you manage risks related to health, life, property, and business. Insurance ensures that you and your family are financially secure during difficult times.
How do I choose the right insurance policy?
Consider your current financial situation, future goals, family needs, and risk exposure. Our insurance advisors can help you assess your requirements and recommend suitable policies based on your age, income, dependents, and lifestyle.
Can I buy multiple insurance policies?
Yes, you can have multiple insurance policies from different insurers. In fact, it's often recommended to have different types of insurance (life, health, vehicle) for comprehensive protection. For health insurance, multiple policies allow you to claim from different insurers.
Life Insurance
What's the difference between term life and whole life insurance?
Term life insurance provides coverage for a specific period (10-40 years) at lower premiums with no maturity benefit. Whole life insurance covers you for your entire lifetime, builds cash value, and offers maturity benefits, but comes at higher premiums.
How much life insurance coverage do I need?
A general rule is 10-15 times your annual income. Consider your outstanding loans, future expenses (children's education, marriage), family's monthly expenses, and inflation. Our insurance calculator can help you determine the exact coverage needed.
Can I increase my life insurance coverage later?
Yes, most insurers allow you to increase coverage through policy riders or by purchasing an additional policy. However, premiums will be calculated based on your current age and health status at the time of increase.
Health Insurance
What is cashless hospitalization?
Cashless hospitalization allows you to get treated at network hospitals without paying upfront. The insurance company directly settles the bill with the hospital. You only pay for non-covered expenses, if any.
What is a pre-existing disease waiting period?
Pre-existing diseases are medical conditions you had before buying insurance. Most policies have a waiting period of 2-4 years before covering these conditions. During this period, treatments for pre-existing conditions are not covered.
Can I claim from two health insurance policies?
Yes, you can claim from multiple health insurance policies. You can claim the full amount from one insurer, or split the claim between insurers. However, the total claim cannot exceed your actual medical expenses.
Claims
How long does the claim settlement process take?
For health insurance, cashless claims are settled during hospitalization. Reimbursement claims typically take 7-15 days. Life insurance claims are usually settled within 7-30 days after document submission, depending on the case complexity.
What documents are required for claim settlement?
Common documents include claim form, policy copy, hospital bills, discharge summary, medical records, prescription, diagnostic reports, death certificate (for life insurance), and ID proof. Specific requirements vary by policy type.
Can my claim be rejected?
Claims can be rejected for reasons like policy lapse, non-disclosure of medical history, exclusions in policy, claim made during waiting period, or insufficient documentation. Always read policy terms carefully and disclose all relevant information.