Bangalore: ‘Health is Wealth’ and so it is your duty to protect it. It is very important for insurance seekers to know their covers completely and not lose out on insurance money because of some loop-holes. Preeti Kulkarni, of the ET Bureau, gives an insight into the areas we must look into while going for health insurance –

Dissatisfied Policy Holders

Various consumer court verdicts show that a large number of insurance holders are dissatisfied with their health plans. Jehangir Gai, a consumer activist, says, "The most common disputes are in respect of pre-existing diseases, suppression of material facts and insistence of the insurance company to lodge claim with 7 days or 30 days of discharge.” These claims have become so common in the Indian scenario that the Insurance Regulatory and Development Authority (IRDA) had to generate a special advisory note informing insurance seekers not to claim insurance on flimsy grounds.

J. Hari Narayan, IRDA Chief, said that nearly a third of the claims were due to improper communication of insurance details. He has also instructed industry lobbies, FICCI and CII, to simplify insurance details for policy holders.