I have multiple health insurance policies. How can I split a large claim across different health insurers?
If you have multiple health insurance policies, start with the one offering the highest cashless coverage to reduce out-of-pocket expenses. For any uncovered amount, you can file for reimbursement with the second insurer by submitting the claim form, bills, discharge summary, prescriptions, and the settlement summary from the first insurer. If there is still some balance left, the third insurer can be approached similarly. That said, having multiple policies is usually not necessary. A single, comprehensive policy with a high sum insured is sufficient to cover most medical needs. The good news is that upgrading your sum insured from Rs 10 lakh to Rs 1 crore can cost just 10-15% more in premium. Given the minimal additional cost, it's a smarter and simpler way to ensure you are well-protected.Young consumers often overlook health insurance, but starting early is crucial. While premiums increase with age, the benefits of starting early far outweigh the costs. One key advantage is guaranteed coverage, as many applicants aged over 35 years face rejections due to illnesses like strokes or cancer. Starting early minimises this risk. Modern plans also lock your entry age for premium calculations until you make a claim, ensuring affordability and sustainability. Wellness benefits reward healthy living, offering discounts or even full premium offsets, which can lead to significant savings over time. Noclaim bonuses further amplify the advantages, allowing the coverage to grow exponentially. For example, a Rs 10 lakh policy could grow to Rs 1.1 crore by age 40, compared to a Rs 10 lakh base coverage for someone starting later. Starting early also helps you serve waiting periods and reducing exclusions when you may need medical coverage the most. Lastly, early coverage shields against unexpected emergencies, protecting you financially and providing long-term savings and security that late starters cannot match.Ask our expertsHave a question for the experts? etwealth@timesgroup.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 minutes ago
- Time of India
Performance of firms responsible for lower PLI disbursals: MeitY
Academy Empower your mind, elevate your skills The Ministry of Electronics and Information Technology ( MeitY ) has told a parliamentary committee that it surrendered Rs 1,574 crore from the funds earmarked for production-linked incentives (PLI) in fiscal 2024 because of lower-than-anticipated performance by companies selected under the Parliamentary Standing Committee on Communications and Information Technology has hauled up the ministry for utilising only Rs 12,847 crore in FY24 under the schemes, after submitting a budget estimate of Rs 16,549 crore and later revising it down to Rs 14,421 crore, as per a standing committee report tabled in Parliament last much as 70% of the underutilised funds were meant for the PLI and Modified Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India schemes, MeitY told the committee. "Expenditure or disbursement of incentives under these two schemes is dependent upon what the private companies are able to deliver. So, it is beyond the control of the ministry to ensure optimal utilisation of the allocated fund under these schemes," it address underutilisation of the earmarked funds, estimates received from industrial units are being reduced substantially at the budget estimate stage itself, MeitY informed the committee. However, the committee refused to accept the reasons."The ministry has a larger role and responsibility towards proper monitoring, facilitation and effective implementation of the above-mentioned schemes, which cannot be solely left to private companies. Therefore, the ministry's submission 'is not understandable'," it said in the committee told the ministry to examine any lack of concerted efforts in utilisation of funds at the earliest through coordination meetings with the companies and stakeholders for reaching realistic and reasonable decisions, as per the committee report.
Time of India
2 minutes ago
- Time of India
W Health Ventures targets $70 million Fund II to build healthcare startups
Academy Empower your mind, elevate your skills US venture capital firm W Health Ventures is looking to raise $70 million, or about Rs 610 crore, for its second India-focused fund to back healthcare startups in the fund will support the development of eight to ten seed and early-stage healthcare companies over the next four years, in partnership with 2070 Health, a healthcare venture studio, W Health Ventures managing partner Pankaj Jethwani told ET.W Health plans to invest Rs 26-40 crore ($3-5 million) per company, with additional capital reserved for follow-ons, he company-creation model offers infrastructure, capital, and operational know-how from the incubation stage.'The company creation model is particularly suited for healthcare due to the sector's inherent challenges, such as its slow pace of change, heavy regulation, and complexity,' Jethwani said. 'This approach helps founders overcome bottlenecks by leveraging the fund's data, relationships, playbooks, and teams to build companies from zero to one.'Fund II will focus on two core themes: single-specialty care delivery platforms and AI-enabled business-to-business (B2B) healthcare first theme will back startups offering high-quality, efficient care in specific medical second will target B2B companies catering to the growing demand from US-based healthcare firms for technology solutions powered by India's clinical and engineering talent pool. These startups are expected to use automation and artificial intelligence (AI) to drive operational efficiency for international clients.'AI is no longer optional when building a company, including in healthcare, though it doesn't always have to be the primary product,' Jethwani said. 'The technology is crucial for embedding convenience and high-quality care at every step.'W Health has already begun deploying capital from the new first investment from Fund II was in EverHope Oncology, which raised $10 million in a seed round. W Health led the round in partnership with Narayana Health and 2070 Health, as reported by ET.W Health's first fund of around $50 million backed startups such as AI-enabled mental health platform Wysa; Elevate Now, a medical weight-loss programme; and Kins, a US-based virtual and home-based physical therapy platform. Its other investments included startups in paediatric care and pain in 2019, W Health has backed companies across various healthcare domains, including digital health, chronic disease management, and mental has seen a rise in sector-specific venture capital funds that focus on defined themes such as healthtech, deeptech, cleantech, and consumer tech. Examples include Java Capital, which backs deeptech and climate tech startups; Avaana Capital, focused on consumer, food and agritech; and Delhi-based Sauce VC, which invests in consumer brands.
Time of India
25 minutes ago
- Time of India
W Health Ventures targets $100 million second fund
W Health Ventures team (L-R) Dr Pankaj Jethwani (executive VP & managing partner), Gaurav Porwal (partner & chief operating officer) and Bhavesh Hemani (chief financial officer) BENGALURU: W Health Ventures, founded by serial technology entrepreneur, investor and philanthropist Sunil Wadhwani, has launched its second fund targeting $70 million (RS 600 crore) with a hard cap of $100 million (Rs 850 crore). The healthcare-focused venture capital firm, which operates in Boston and India, expects to announce the fund's first close later this quarter. Fund II will double down on W Health's 'company creation' approach, which is building and scaling healthcare businesses from the ground up while backing existing platforms. The model, which the firm says helped its first fund's portfolio reach over 25 million patients globally, will now be expanded with plans to build eight to ten companies over the next four years. 'We're in an evergreen sector that will continue to grow at a reasonable pace for the next 20 years,' Dr. Pankaj Jethwani, managing partner at W Health Ventures, told TOI. 'Healthcare innovation in India remains 10-15 years behind global benchmarks. That gap is a generational opportunity.' The firm has already warehoused two investments for Fund II. These include Everhope Oncology, a $10 million joint venture with Narayana Health aimed at reimagining cancer care in India by introducing advanced diagnostics, breakthrough therapies and decentralised treatment centres, and a US-based managed services platform for psychiatric care that operates in stealth. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Europe's 30 Most Beautiful Hidden Coastal Towns – Ranked by Travel Lovers Learn More Undo W Health will also strengthen its leadership with four new senior operating partners who will provide hands-on expertise in areas such as offline healthcare operations, AI-enabled services and US go-to-market. Jethwani said the firm's strategy is built on two themes: single-speciality care delivery platforms in India and cross-border, AI-enabled B2B healthcare services. 'Most of healthcare spend in India still happens offline,' he told TOI. 'We are focused on building companies that meet patients where they are while also leveraging India's clinical and engineering talent to power healthcare services for global markets. ' W Health launched its first fund in 2021, deploying about $43 million across 12 companies, including Mylo, BeatO, Wysa, Reveal HealthTech and Nivaan Care. Jethwani added that healthcare has been among the strongest-performing investment categories in India. 'We're not a healthtech fund, we're a healthcare fund. We are here to build companies that can truly change the standard of care for millions of patients.' Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
