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Ask Mint Money | Congenital defects are not covered under health policy

Ask Mint Money | Congenital defects are not covered under health policy
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First Published: Tue, Jul 19 2011. 10 59 PM IST
Updated: Tue, Jul 19 2011. 10 59 PM IST
I am 27 years old. I have a health cover from my employer with a limit of Rs 1 lakh. I plan to take an additional cover of Rs 3 lakh for myself. However, I also plan to go for higher studies abroad next year and am not sure where I will settle. What should I do? Which plan should I look at?
-S. Sagar
Health insurance policies cover the cost of treatment in a hospital in India. Your policy will not provide a cover when you go abroad for studies. Insurers provide health insurance cover under students’ travel insurance for persons going abroad for studies and you will have to take such a policy. The best course of action is to enhance your health insurance temporarily till the time you go abroad for studies. If you are going for more than a year, you can let this policy lapse and take a new policy if you come back to India.
I want to buy a health policy preferably with add-on critical illness cover for my daughter. She had undergone an open- heart surgery for a hole in her heart when she was five years old. Now she is 13 years. What riders should I keep in mind before buying a policy for my daughter?
-Sanjivan Anand
Health insurance policies do not cover congenital defects. If the hole in her heart was from birth, then any medical expenses related to this ailment will not be covered by health insurance.
However, it is still advisable to take a health insurance cover since medical costs are rising rapidly and health insurance has become a must.
You can defer taking a critical illness cover for her since the heart condition will not get covered under the policy and, at her age, she is unlikely to suffer from other diseases covered in a critical illness policy.
I used to live with my brother in a flat owned by him. However, all the household items belonged to me. Now I am moving out to my own house and taking all the household stuff. We had a householder’s policy for the previous house. Can I transfer the same to my new house? Also, can this policy be taken jointly with my wife?
-Rahman Ali
You can get the policy transferred but it will mean too many changes in the policy. You have to get the name, address and the items changed in the policy. Hence it is better to take a new policy.
Since home insurance comes very cheap, you can let your brother keep the current insurance and take a fresh insurance for your new home. You can take the policy jointly only if the house is jointly owned or leased by you and your wife. Otherwise, it will be in the name of the person who owns the house or is the lessee in the lease/rent deed.
Queries and views at mintmoney@livemint.com
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First Published: Tue, Jul 19 2011. 10 59 PM IST