Ask Mint | Cover laptop under home insurance

Ask Mint | Cover laptop under home insurance

I am 67 years old and my wife is 62. We have a health insurance policy from National Insurance Co. Ltd for Rs2.50 lakh. In this policy, I am the first insured and my wife second. Last year, our renewal premium was increased from Rs9,800 to Rs19,050. We made no claims in the last five years. Will the premium reduce if my wife becomes the first applicant? Is there any other way to reduce the premium? Should we try another company?

—Prabhu Narayan

Your premium has increased inordinately. The increase in age from 66 to 67 years does not warrant such a sharp increase. Normally, insurers increase the premium on renewal if there is a claim, which can recur in the near future. Since there have been no claims in the policy for the last five years, this increase cannot be justified. You should send a complaint to the regional office and the head office of the insurance company.

The premium will not go down even if your wife becomes the main insured in the policy. There is no other way to reduce the premium. Since your sum insured, at Rs2.5 lakh, is towards the lower side, it is not recommended that you decrease it further. Changing your insurer is also not advisable at your age since you will have to go through the waiting period again and that can be risky. Besides, the next insurer may not provide continuity in the policy. This means that all diseases for which you have taken treatment till now will become pre-existing diseases in your case.

Is it possible to cover my laptop at home?

—Samar Jain

I am 29 years old and want to take a health policy for my parents and myself. My father is 58 and my mother 54. I am suffering from ulcerative colitis for the last two year because of which 10% of the lower portion of my long intestine is affected. However, the condition is under control through regular medication. Can this be covered under the policy? Which policy should I take?

—Sameer Saha

You can opt for a health insurance from any insurer. Before doing so, you will have to declare your current health condition. The insurer will exclude the treatment of ulcerative colitis from the scope of the policy. The insurer will also ask for certain health tests of your parents. The policy will be issued based on these tests. It is strongly recommended that you take a health insurance policy to secure you against medical expenses arising out of any other health problems.

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