Is it compulsory to disclose all the information about health condition to an insurer?

I am 31 years and reside in Mysuru. I have taken a health insurance plan 3 years ago after medical tests and regularly pay premiums. When my health plan was issued, I was a teetotaler. Now I smoke and drink regularly. My friend has told me that if I am hospitalized, the insurer won’t settle the claim. I have not saved much money for hospitalization and am worried. Should I tell the insurer my new habits? 

Asked by : Sanketh- Mysuru | 270 Views

It is compulsory for you to disclose all information about your health at the proposal stage when the policy is being issued and you have done so. Medical tests were conducted and your obligations are fulfilled. If you are hospitalized the insurer must settle your claims as per the insurance scheme. If your health insurance plan has guaranteed renewal for life, the insurer cannot refuse to renew the health insurance plan, even if your health is bad or with the changing habits. The insurer also cannot increase the premium when you renew the plan as these are linked with age. You have nothing to lose even if you disclose these new habits to the insurer.