Stick with your insurer even if medical policy is withdrawn
Moving to a new company means losing out on continuity benefits
Policyholders could be left in the lurch when insurance companies discontinue their plans. Policies are withdrawn either because of changes in regulations or introduction of new policy schemes by insurers. Recently, the Insurance Regulatory and Development Authority of India (Irdai) banned life insurance companies from selling indemnity-based health insurance products. Almost all life insurance companies — HDFC Life Insurance, Reliance Life Insurance and IndiaFirst Life Insurance — have indemnity mediclaim plans wherein the policyholders are reimbursed according to the ...