In many cases, he said, the claim amount paid is significantly lower than expected, or claims are outrightly rejected.
KEY REASONS FOR REDUCED PAYOUTS
Policies have several exclusions and limitations. "If the policyholder does not take these into account at the time of purchase, it can result in a lesser claim settlement amount and an unpleasant claims experience," says Parthanil Ghosh, director and chief business officer (CBO), HDFC ERGO General Insurance.
Many issues arise due to how health insurance is sold and bought. "Customers frequently sign without reading the terms and conditions, resulting in a poor understanding of coverage, and eventually leading to partial payouts," says Amit Chhabra, chief business officer, general insurance, Policybazaar.
Denne historien er fra September 17, 2024-utgaven av Business Standard.
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Denne historien er fra September 17, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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