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Which Insurer to Choose for Claim in Case of Multiple Health Insurance Policies?

Team AckoNov 15, 2021

When it comes to any kind of insurance, the objective is to mitigate financial losses. Insurance is not an investment that will reap benefits in the future like a fixed deposit. It is an assurance that if you face an unfortunate event (as mentioned in the policy), the insurance company will help you financially (as per its terms and conditions).

Which Insurer to Choose for Claim in Case of Multiple Health Insurance Policies?

In case of a medical insurance policy, there are indemnity-based policies and fixed-benefit policies, as well as various Add-ons, and several specific types of health insurance policies. But, is it possible to buy health insurance from multiple insurers? Can you raise a claim from multiple insurers? Read ahead to know the answers to these and other similar concerns.

The possibility

To answer the overarching question directly, yes, it is possible to purchase medical insurance policy from multiple insurers and raise a claim from multiple insurers. However, there are terms and conditions governing such options and one has to act within the rules to make it happen.

In case of Indemnity Plan

Indemnity plans work on the basis of sum insured. Consider this, if you have policy A of Rs. 2 lakhs and policy B of Rs. 1 lakh, and you raise a claim for 2.5 lakhs. Here, you can claim against policy A first and then claim the balance from policy B. If the claim was for Rs. 1 lakh, you would have the choice of claiming against either policy A or policy B. You can’t claim Rs. 1 lakh from both the policies.

In case of Fixed-benefit covers

Here, you can claim from both the policies as such policies are based on sum assured. You are guaranteed an assured sum on the occurrence of a pre-stated event. For example, critical illness cover for cancer is a fixed-benefit policy.

Choice between Group and Individual policy

If you have a group medical insurance policy as well as an individual insurance policy, it is wise to claim from a group policy. It is better to do so as a group policy doesn’t have accrued benefits as compared to those in the individual plan, example, No Claim Bonus (NCB).

Choice between two individual policies

If you have to choose between two individual plans, consider the waiting period and pre-existing diseases clause of both the policies. Look out for better customer service factor among the two insurers as well.


If you choose to claim from multiple insurers, you might have to offer multiple documents. For example, get claim settlement letter from one insurer to settle balance claim from the second insurer. Also, you will have to keep in mind the terms and conditions of both the policies.

Your body, your choice

Do not hoard policies because they are available. Plan your health insurance properly. Check how much insurance you need if you already have an employer-provided group health policy. Do you need a heart-ailment specific policy or a critical illness plan covering multiple illnesses? Introspect before you decide to choose to purchase multiple policies. Do not leave the decision on an agent, it is your body and your decision.

Lots of options

There are different types of health insurance policies available online. This means, a lot of options to choose from. That is why when you are about to buy health insurance, it becomes crucial to compare the coverage, features, benefits, and premium of the policies on offer. One also has to consider the credibility and the Claim Settlement Ratio of the insurance company from whom you plan to buy the policy.

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