BUSTING THE MYTHS: DO INSURANCE COMPANIES ACTUALLY DECLINE CLAIMS?

Being an NRI, dose any of these thoughts hold you back from buying a health insurance policy back home

“Will my claim be honoured?”

Which is always in close contention with:

“What if my claim gets turned down?”

Allow me to shed some light. Most claims get paid out, provided that the correct procedure is adhered to. Let us tackle these health securing myths starting with the top three.

❌ Myth 1. Claims Take Too Long Time to be Processed and Paid Out by Insurance Providers.

✅Reality: Insurance companies pay claims based on the terms outlined in the policy.

Following issues are usually the reasons for delays:

• Documents are incomplete or absent
• Non-disclosure or mismatch in medical history
• Treatment taken in non-network hospitals without prior intimation

Smart Move:

• Clearly state all health issues while buying the policy
• Having reliable records is a plus
• A cashless facility in network hospitals usually takes around 3 hours
• Reimbursement requests? Generally, bills have to be submitted within 30 days and it takes a minimum of 14 working days to receive the money back

❌ Myth 2. Rejected Claims because of too many conditions

✅Reality: This is more so due to:

• Keeping pre-existing condition hidden
• Ignoring policy exclusions (like waiting period)
• Not enough of documentation

Smart Move:

• Honesty is the best policy – declare all pre-existing illness, don’t hide any - big or small
• Know the exclusion and waiting periods of your policy
• Submission of the supporting documents should not be delayed

❌ Myth 3. All these Policies will make many go through mental gymnastics

✅ Reality: Policies are not scary as you feel.

IRDAI ensured fair claim settlement, every plan comes alongside an easy-to-follow instruction guideline.  

Smart Move:

• Request a policy summary before purchase.
•  Have a trusted advisor on speed dial

If it sounds familiar to you as what many NRIs are going through, the next step is simple – seek clarity.

Let’s decode it together – no jargon, no pressure. Just truth, no sugar coating.

Zap. Insure. Nap Easy

www.insurewithjayesh.com