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Can A Person Have More Than One Health Policy?

Published On Jan 26, 2021 5:30 AM By Sakshi Aggarwal

‘A healthy mind resides in a healthy body’ - This age-old Greek saying has had a bearing on our lives since the days of antiquity. It emphasises the vital need of maintaining our mental and physical health at par to achieve a healthy lifestyle. Such an emphasis can easily be taken to be one of the guiding principles of human lives across the globe but its importance has assumed new significance in the 21st century where hectic work schedules, tight deadlines, and the fast pace of everyday life has become an undeniable cause of several health disorders in our lives. Surging medical costs and the recent pandemic induced by Covid-19 has made it imperative for us to invest in health insurance policies, to help us create a buffer between our bodily illnesses and sky-high expenses associated with the same.

The need for health insurance is all the more crucial for people who require frequent hospitalization and medical tests and in this case, more than one health policy becomes a necessity. Contrary to popular perceptions that a person can have only one health policy, holding two or more health insurance policies is actually possible and offers a wide range of benefits as well. the following is a list of info/terms and conditions that will help to understand how you can hold more than one health policy and reap benefits out of it -

Benefits Of Having More Than One Health Policy -

1. You Can Purchase Different Health Insurance Policies Across Multiple Companies

If there is an insufficient claim amount in a single policy then you can choose to purchase a different health policy that offers you a greater claim amount from any other health insurance company. If your second policy has a larger claim amount than the sum insured in the first policy then you have the option of claiming the same on the second policy. However, there are certain regulations that you need to follow while making such claims. Whenever you are buying two separate health policies, you must inform the insurers about the same, otherwise, your claim amount can be reduced or rejected for non-disclosure of information.

2. You Can Choose A Policy That Does Not Have Any Deductibles

When you are buying two different health insurances be aware of their respective claim amounts, sum insured and the deductible amount. You should choose a policy that comes without a deductible amount as a part of the claim then becomes payable by the policyholder themselves or reimbursed through another policy.

3. You Can Avail A Cashless Claim Benefit

One benefit of holding two different health policies is the facility of availing a cashless claim. With this option, you can make a cashless claim on one company and secure the claim amount as reimbursement from another company at the same time. For example, if you have been hospitalized, then the entire bill amount can be paid by one insurance company and if you would like to recover the same amount, you can make a claim from your second policy company for a total repayment of the same.

Therefore having more than one health insurance policy results in maximized benefits and covers you not only against medical emergencies but also solves the problem of getting a reimbursement as well. However, you must bear in mind that no matter how many insurances you might choose to invest in, the claim or coverage amount cannot exceed 100%of the total cost.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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