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By now, you should know the importance of having a health insurance plan to protect you financially in case of a health-related crisis. But to ensure that your family members or dependents don’t miss out on all the benefits of your health insurance policy, it is important that you select a nominee for your health insurance policy.
A nominee is a person (or people) who are chosen by the policyholder. In normal situations, when you make a health claim for hospitalization or medical treatment, you get that amount back yourself.
But, in the unfortunate event of your death during hospitalization, or as a result of an accident, the health insurance company will pay the claim amount to this nominee.
While this is mandatory in life insurance, it is also possible to appoint a nominee for a health insurance, or even personal accident insurance plan.
NOTE: This is not applicable in the case of a cashless health insurance claim, where the amount is settled directly with the network hospital.
It is important that you inform your health insurer about who you have nominated for your policy. As, in case something goes wrong with your health, you can ensure that your loved ones are protected financially.
Essentially, appointing a nominee for your health insurance policy will ensure that there are fewer hassles in case the worst happens. Thus, it can make a very hard situation a little bit easier for your loved ones.
There are no real restrictions on whom you can select as a nominee for your health insurance plan. It is possible to nominate immediate family members such as
It is also possible to nominate a minor (someone who is below 18 years of age). In this case, you will also need to mention a guardian or appointee, as the minor cannot legally handle the claim amount until they are an adult.
Additionally, remember that if a nominee dies before the policyholder, the claim amount will go to your legal heirs. This is decided either as per your will, or is decided by the courts.
In general, it is advisable to name immediate adult families as your nominees, especially as the claim amount can provide essential financial support at a difficult time.
You can add in the nominee details when you purchase your health insurance policy, whether you buy it online or offline. However, it is possible to appoint a new nominee at any time, by informing your insurer.
It is also possible to change or remove individuals as nominees at the time of renewal, or during the policy period. Once again, you can do this by contacting your insurer.
It is necessary to provide correct information of the nominee to make sure there are no problems when raising a claim. This includes:
When the worst happens, and you (the policy holder) die during hospitalization, it is up to the nominee to claim reimbursement. They can do this as follows in the case of a reimbursement claim:
Nominees play a very important role in health insurance. In case of death, it provides a financial safeguard for one’s dependents and can also prevent any disputes from arising. It is possible to choose anyone as your nominee, even minors. Thus, when choosing a health insurance plan, it is very important to make the right choice and select a nominee.
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Disclaimer #1: *Customer can choose options at the time of availing insurance. Premium amount may vary accordingly. Insured is required to disclose any pre-existing condition or on going treatment before policy issuance in the proposal form.
Disclaimer #2: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.
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