Life & Medical Insurance

Insurance is a separate decision. Where a specific cover is a condition of a particular loan — comprehensive motor insurance on a financed vehicle, for example — that condition is stated in your sanction letter and explained to you. Beyond such cases, you are never obliged to buy a policy to obtain credit from us.

The policy is issued by a licensed insurance company. We assist you in choosing, applying for and servicing it. The contract of insurance is between you and the insurer, and the policy document issued by them governs what is covered.

A family floater is a single health policy with one sum insured shared across the covered members. It usually costs less than separate individual policies, and it works well when the family is unlikely to face two major claims in the same year.

Health policies typically apply a short initial waiting period, plus longer waiting periods for specified conditions and for pre-existing illnesses. These are set out in the policy schedule. Declare existing conditions honestly at proposal — a concealed condition is the most common reason a genuine claim is rejected.

For a cashless hospitalisation, present the health card at a network hospital and the insurer's desk initiates approval. For reimbursement, keep all original bills, discharge summary and reports. In either case call our office — we will help you and the hospital assemble what the insurer needs.