Do health insurers have specific products for cancer patients?

—Name withheld on request

Disease management products are rare in India. Historically, insurers have been reluctant to issue general health insurance products even to people who have suffered a major serious illness. However, recently, some insurers have been experimenting with products for people with specific diseases such as heart or cancer. Some standalone health insurance companies have specific products for cancer patients. It will work like regular health insurance. Hence, it will not cover pre-existing diseases including cancer for a specific waiting period. The main advantage of this plan is that it is more likely to be issued to a person with a history of cancer as compared to a regular health insurance plan.

I have a health insurance. I will be admitted to the hospital. I no longer want to claim my insurance; However, if it happens again after 3-4 years, I will go for the claim. I want to do this to protect the bonus earned on my insurance, I don’t want to give up my bonus insurance anymore. Am I doing something wrong?

I want to know whether I will still need to inform the insurer about this hospitalization and treatment?

What happens when I claim my insurance for the same treatment/disease in the year 2025 (I will still be paying my premium)? Will my claim be rejected as I have not informed the insurer about it yet?

—Name withheld on request

Unlike motor insurance, in health insurance the no-claim bonus is given on the basis of higher sum assured and not because of reduction in premium. Instead of trying to predict future claims and match the no-claim bonus, you should just buy a higher sum assured through top-up insurance. Another option is to increase the sum assured in your existing policy on renewal. Many insurers offer this facility without additional underwriting. Another reason why you shouldn’t hold back from filing a claim is that the no-claim bonus in health insurance is usually not void when you make a claim. So, in case of a claim, your bonus will drop by one level. If no claim is made, such loss will be restored in the next year. Unless the medical cost of the hospitalization is very low, my recommendation would be to file a claim. Insurers usually require you to disclose all medical conditions before issuing a policy. If you do not intend to make a claim, there is no specific requirement to notify the insurer of medical issues after purchasing the insurance.

Abhishek Bondia is the Chief Officer and Managing Director of SecureNow.in,