Health Insurance Claim: While buying insurance, companies make big promises to their customers, but when claims are made by customers, in most cases their claims are rejected by the companies.
Health Insurance Claim
While buying insurance, companies make big promises to their customers, but when claims are made by customers, in most cases their claims are rejected by the companies. Post Corona the demand for health insurance in the country is increasing rapidly, but so are the cases of claim rejection or refusal to pay by the company.
A survey has revealed that nearly 43 percent of health insurance policy holders have faced difficulties in settling their claims in the last three years. This conclusion has come out from the ‘Local Circle’ survey.
In a survey of 9,000+ persons with insurance policies, 43% face problems with health insurance claims!!!!
What is IRDAI doing about it?
Is IRDAI meant to protect interest of patients/consumers or is it to protect the interest of insurance companies? https://t.co/yU8Jlma7FB— Rema Nagarajan (@RemaNagarajan) May 4, 2024
The survey, conducted among over 39,000 people in 302 districts across the country, revealed that policyholders faced challenges such as claim rejection, payment and long time taken for their settlement.
93 percent of people in a survey conducted by the survey organization ‘Local Circle’ suggested that changes should be made. Consumers have also demanded that insurance companies be made mandatory to disclose detailed claims and policy cancellation data on their websites every month.
According to a Local Circles report, “Despite some intervention by the Insurance Regulatory and Development Authority of India (IRDAI), consumers are struggling with insurance companies to get their claims.”
It also mentions issues like rejection of health insurance claims and cancellation of policies by insurance companies. Many times insurance companies will settle a part amount instead of the full amount claimed in the claim.
According to the survey report, people want IRDAI, the Ministry of Health as well as the Ministry of Consumer Affairs to cooperate to ensure that the processing of health insurance claims is done fairly and quickly and that the policyholder is not inconvenienced.
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