Frequently Asked Questions

PolicySutra is an insurance information and discovery platform designed to help people understand insurance concepts, explore available options and make more informed decisions.

We provide educational content and information to help you compare relevant considerations. The right policy depends on your needs, budget, eligibility and the insurer's terms. Review the official policy documents before making a decision.

PolicySutra's role is to provide insurance information and help users discover options. Policy issuance, underwriting, premium decisions and policy servicing are handled by the relevant insurer or authorised service provider.

No. Information on the website should not be interpreted as a claim of affiliation with every insurer. Any partner relationship or referral arrangement should be identified where applicable. Always verify product details with the insurer.

No. Our educational content is intended to help you understand insurance, not replace official documents. The insurer's policy wording, schedule, benefit illustrations where applicable and current terms govern the actual coverage.

Start with the risk you want to cover, then compare coverage, exclusions, waiting periods, limits, premium affordability, claim procedures and service requirements. Check whether the policy suits your current circumstances and likely future needs.

Compare more than the premium. Review:

• Covered benefits and exclusions
• Waiting periods, limits and deductibles
• Eligibility and disclosure requirements
• Renewal conditions and premium changes
• Claim process, service network and relevant policy wording

A premium is the amount you pay to maintain insurance coverage, according to the policy's payment schedule. The amount can depend on factors such as the product, coverage selected, age, risk assessment and insurer's underwriting rules.

Exclusions are situations, expenses or events that a policy does not cover, or covers only under specified conditions. Read the exclusions section carefully and check any exceptions or special conditions in the complete policy wording.

A waiting period is a specified period during which certain benefits or conditions may not be covered. Its length and application depend on the policy and benefit involved. Check the policy wording for exact terms.

A deductible is an amount you must pay before the insurer pays eligible expenses, as defined by the policy. A co-payment is a specified share of eligible expenses that you pay. These terms are not interchangeable; check how each applies to your policy.

An individual policy generally provides a separate sum insured for the insured person. A family floater typically provides a shared sum insured for the family members listed in the policy. Eligibility, covered members and benefit terms vary by product.

A pre-existing disease is a medical condition classified as pre-existing under the applicable policy and regulatory definitions. Disclosure requirements, waiting periods and coverage conditions can vary. Answer the insurer's health questions accurately and review the policy terms.

Review entry-age rules, pre-existing disease provisions, waiting periods, co-payments, room-rent limits, exclusions, medical checks, renewal terms and the availability of suitable hospitals. Compare the full benefits and limitations rather than choosing on premium alone.

Term life insurance primarily provides life cover for a specified term, subject to the policy conditions. Savings-oriented life insurance products may combine life cover with savings or maturity benefits. Benefits, costs and risks differ by product, so read the official benefit illustration and policy wording.

A nominee is a person named in a policy to receive or handle policy proceeds according to the applicable law and policy terms. The legal effect of a nomination can vary by insurance type and circumstances. Keep nomination details accurate and updated.

A No Claim Bonus is a benefit available under certain insurance products, commonly motor insurance, subject to the insurer's rules and policy terms. It may affect the renewal premium or eligible benefits. Confirm the applicable conditions before renewal or making a claim.

Notify the insurer or its authorised claims channel as soon as required by your policy. Follow the stated procedure, submit the requested documents and keep copies of your communications. Claim requirements and timelines vary by product and circumstances.

In a cashless health claim, eligible expenses may be settled directly with a participating hospital under the insurer's process and authorisation. In a reimbursement claim, you generally pay eligible expenses first and then submit a claim for assessment. Approval and payment remain subject to policy terms.

Your policy may provide a grace period, but its duration and effect depend on the product and policy wording. Coverage or benefits during a missed payment can differ. Contact the insurer promptly and check the consequences before assuming your coverage remains unchanged.

Renewal and portability are subject to applicable rules, timelines, insurer procedures and product conditions. If you are considering a change, start early, obtain written details about continuity benefits and waiting-period credits where applicable, and do not assume a new policy is already active.

Read the insurer's written explanation, policy wording and relevant claim documents. Raise the issue through the insurer's official grievance redressal channel and retain the complaint reference. If unresolved, follow the applicable escalation process, which may include IRDAI's Bima Bharosa system or the appropriate Insurance Ombudsman route, subject to eligibility and procedure.

Visit IRDAI Bima Bharosa for grievance-related information.

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