Confused about your health insurance policy? Fear not! This guide decodes the mysteries of the Customer Information Sheet (CIS), your key to understanding the ins and outs of your coverage.
What's new in Customer Information Sheet (CIS)?
Starting January 2024, health insurers will issue a revamped CIS with simplified language and crucial details upfront. Here's what you can expect:
| Sum Insured | No more guesswork! The new CIS clearly states your policy's sum insured, whether individual or family floater. |
| Reimbursement or Benefit Cover? Know how your policy works | The CIS clarifies if it operates on reimbursement (hospital expenses reimbursed) or defined benefit (fixed payout for specific conditions). |
| Benefits at a Glance | Understand what's covered. The CIS lists hospitalization, pre & post-hospitalization expenses, day-care procedures, OPD coverage, maternity benefits, and more. |
| Free Look Period | No buyer's remorse? You have 15-30 days to 'return' your policy if it doesn't meet your needs. The CIS clearly mentions this period. |
| Claim Settlement Timelines | No more waiting in the dark. The CIS specifies the timeframe for settling claims and pre-authorizations, ensuring transparency. |
| Network Hospitals & Blacklisted Hospitals | Finding the right hospital is easier. The CIS lists network hospitals for cashless treatments and blacklisted hospitals to avoid. |
| Waiting Periods & Exclusions | Know what's not covered. The CIS details waiting periods for certain procedures and pre-existing conditions, as well as exclusions and deductibles (initial expenses you bear). |
| Grievance Redressal | Get help when needed. The CIS provides contact details of the company's grievance officers and IRDAI-appointed ombudsman offices for easy complaint resolution. |
| Portability & Migration | Take your coverage elsewhere. The CIS outlines the process for switching to another product or insurer. |
| Moratorium Period | Protection after a period of time. The CIS explains the 8-year moratorium rule, after which your pre-existing illness disclosures cannot be questioned. |
Remember:
| The new CIS empowers you to understand your health insurance policy clearly. |
| Read the CIS carefully to ensure your coverage meets your needs. |
| Contact your insurer or seek professional help if you have any questions. |
With this guide and the updated CIS by IRDAI, navigating the world of health insurance is a breeze! Take control of your health and financial well-being.
