Ditto

Ask for restoration benefit

It’s a Sunday morning and you’re sipping coffee on the hospital bed. You are thinking about how a small heart complication forced you into a 3-week stay at the hospital. More importantly, you’re thinking about how you racked up a bill totaling ₹4,88,000. Thankfully, your insurance policy is going to take care of the burden. After all, you have a ₹5 Lakh cover. So you don’t have to pay anything right now. But you start thinking about other possibilities.

See, you bought a combined policy — For both your wife and yourself. And if she were to fall sick anytime soon, then the insurance won’t cover her bills. You’ve used up the benefits already.

But what if the insurance restored itself to the initial state immediately after you make a claim? What if your insurer offered you a ₹5 lakh cover once again in the event you or your wife have to be hospitalized anytime soon?

Well…Guess what? It’s possible with a restoration benefit.

While some policies offer unlimited restoration for any illness, others have some restrictions. For instance, some policies will tell you that you can’t claim the restoration benefit if you have the same illness once again. In this case — a heart complication.

It’s always prudent to opt for restoration benefits if you have a combined policy. It also makes sense even if it’s an individual policy. Just make sure you read the fine print on how the cover is restored each time and you’ll be set.

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