April 20, 2024

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Health know-how

What Is The Claim Process For Nominees In Your Health Insurance Plan?

Nominate the right person for your life, health and pension plans | Mint

A Nominee’s Function In Health Insurance

A nominee is a person (or group of people) the policyholder selects. You usually receive that money back when you file a health claim for hospitalisation or medical care. However, in the unfortunate event of your passing while in the hospital or as a result of an accident, the health insurance provider will reimburse this nominee for the claim amount.

It is possible to designate a nominee for health insurance or even a personal accident insurance plan, though this is not required for life insurance. ^

Health Insurance Nominees’ Advantages

Let your health insurer know who you’ve named as a Bajaj Allianz health policy beneficiary. You can ensure that your loved ones are financially protected if something happens to your health.

  • Financial Support For Your Family – When someone passes away, their entire family is affected, and if there are high hospital costs, that financial burden may increase. However, by nominating someone, you guarantee no economic issues.
  • Protect Your Dependents – You must protect the finances of anyone who depends on you. And you can ensure this by including them in your health insurance policy and supporting them in future financial difficulties.
  • Benefits Can Be Equally Shared – The claim benefit can be split equally if you have chosen multiple nominees.
  • Avoid Legal Complications – If you pass away without naming a nominee, your health insurance will require the insurer to locate your legal heir for them to pay out the claim. Due to the possibility of multiple parties involved, your family may face legal issues and other difficulties.

What Is The Nominee Claims Process?

The nominee will be responsible for filing a health insurance claim process for compensation if the worst happens and you (the policyholder) pass away while receiving treatment. In the case of a reimbursement claim, they can accomplish this as follows:

Step 1: The nominee needs to inform the insurer of the policyholder’s death with a valid succession certificate, death certificate, and, in case of accidental death, an FIR and postmortem report as required.

Step 2: The nominee must send the insurer any necessary paperwork within 30 days. This may include the nominee’s identity card, proof of relationship, and bank information, as well as the nominee’s health records, passing away certificate, and any doctor’s reports.

Step 3: The insurer will inform them of any additional requirements.

Step 4: After confirming the documents, the insurer will transfer the claim amount to the nominee’s account. [1]

Understanding the claim process for nominees in your health insurance plan is essential for ensuring a smooth and timely settlement in case of an unfortunate event. Nominees should be aware of the policy details, keep all necessary documents handy, and notify the insurance provider promptly to initiate the claim process. Being well-informed and prepared can help nominees navigate the process effectively and receive the benefits they are entitled to during challenging times.

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^ Claims are subject to terms and conditions set forth under health general insurance policy.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

[1] https://www.bajajallianz.com/download-documents/health-insurance/health-guard/Health-Guard-Policy-Wordings-print.pdf