Health Insurance

Buy health insurance and critical illness cover separately

Published in Mint on 29th April 2014, Written by Kapil Mehta

I will be travelling by train from New Delhi to Kolkata to attend a cousin’s wedding. I will be carrying expensive jewellery. Can I insure it for the journey?
—Karan Kapur

The jewellery can be insured under marine or domestic travel insurance. However, there are practical issues in this that you need to be aware of. First, you need to provide an invoice or valuation certificate for the jewellery. Second, many insurers will not provide a stand-alone insurance for gold. It will need to be combined with cover for other goods in transit.

I am a 30-year-old woman. Should I opt for a health plan with in-built critical illness option or buy separately?
—Rashmi Lakra

You should buy a stand-alone critical illness plan. That way you will get the best-in-class plan for hospitalization as well as critical illness. One of the issues in buying separate plans is the requirement of two sets of medical tests. Since you are young, critical illness plan may not need a medical examination.

Why is the family history of relevance when I am the one who wants to take a cover?
—Aakash

From a medical standpoint, there is a correlation between your family history of disease and the probability of your contracting an illness. The correlation varies according to the disease. For example, diabetes and cardiac conditions show strong correlation whereas virus-borne illnesses are not correlated.

I have entered into a commercial contract with a shopping mall. The mall requires me to buy a liability insurance with them mentioned as an insured party. Is that possible?
—Alpa Joshi

The concept of an additional insured is fairly standard and insurers are used to such requests. The insurer will issue an insurance with you as the primary insured and the shopping mall as an additional insured.

I get tense during a medical examination and my blood pressure increases. Will an insurer issue medical insurance to me?
—Madan

Insurers and diagnostic labs do allow for anxiety during medical tests. Your complete medical test results will present a clear and correct view on your health even if you were anxious during the examination.

I am a veterinary doctor and employ 10 people. Can I purchase personal accident insurance for my employees to pay for expenses in case of a dog bite?
—R.K. Chaddha

Dog bites due to occupational risk are generally excluded from a personal accident insurance. However, you may still want to buy it as such a cover is a cost-effective way of insuring against accidental death or disability.