If you have opted for the additional sum insured benefit in the Group Health insurance policy, you are entitled to the following benefit:
- If you use up your main sum insured, you will get an additional one-time sum insured.
- The additional one-time sum insured can be used by all the insured members in the policy who have not claimed before
You pay only 5% of the current premium. You can avail this at the time of renewal or during the new purchase of the policy.
To help you understand this better here is an illustration:
Ram has purchased the group health insurance policy with sum insured of 5 lakhs and availed the additional sum insured benefit during the purchase of the policy. He has insured himself and his wife. In the policy year, Ram was unfortunately hospitalized and claimed the entire of 5 lakhs. In another 2 months, Ram’s wife had to be hospitalized. Because Ram had opted for additional sum insured option at the time of purchase, his wife can now claim up to 5 lakhs as well, even though the sum insured was exhausted in the previous hospitalization.
However, if Ram gets hospitalized again, he will not be able to claim for additional 5 lakhs.