POSTED BY October 18, 2010 12:58 pm COMMENTS (4)ON
say i have a mediclaim for my family. any of my family or myself gets hospitalised, and before disharge from hospital, the renewal becomes due for next year. in that case ,can the insurance company deny to renew the policy, can it demand increased premium , or is it obligatory on part of the insurance company to renew the same with the same conditions, premiums? take the case when it is certain to prolong the hospitalisation in next year.
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4 replies on this article “continuity of mediclaim in case of running hospitalisation”
@ manish, dhawal and kashyap
thank you all for the replies. long live ‘jagoinvestor.com’!
thanks Dhawal/Kashyap to timely answer the dount .. Hope to make this best place to solve the query with people like you around 🙂
Bharat , is your query solved ?
Insurance company can never deny you the renewal. But if your hospitalization was due to some major chronic disease, which may prolong after-wards also, then insurance company can increase your premium by the way of loading but cannot deny you.Your premium may also increase because of increase in your age. i.e. suppose you move from 44 yrs to 45 yrs , Major insurance companies have their change in premium from this age.
No, company cannot outrightly deny to renew the policy..but yes, it can increase premium by way of LOADING if this concept is already in the policy wordings…Only in very extreme case can the company deny/reject the policy for renewal..Its not obligatory on company’s part to renew it at the same premium condition (When policyholder himself is not in the same condition, how can the company be expected to charge the same old premium??)