My wife is covered under 2 cashless health insurance schemes,one with National Insurance worth Rs 5 lakh and another one with employer worth Rs 2 lakh. Recently she was diagnosed with breast cancer and had to undergo chemotherapy sessions. Surgery cost us around Rs 4.5 lakh. Is chemotherapy covered by a health insurance policy? If yes then can I first claim from the company and then the remaining amount from National Insurance? What are the documents needed to file a claim? Satish Ramanathan,Mumbai Besides,the major surgeries,health insurance policies these days,also cover some day-care treatments and regular chemotherapy sessions are one of them. Chemotherapy is covered under the mediclaim policy of National Insurance,but limited to a maximum of 50 per cent of the sum insured. Group insurance policies offered by employers are customised. Hence,you must read the policywording for scope and limitation of the cover. If it does,it should not make much of a difference for your wife as both the insurers will settle your claim as per the principle of proportionality,limited to your overall sum insured. About documentation,you will need to submit the original medical bills,claim form duly filled,discharge cards,insurance policy papers and indoor case papers. I bought a Jeevan Saral plan in 2009 with an annual premium of Rs 25,000 and a Rs 5 lakh cover. I am planning to surrender the policy after its lock in period ends in 2012. What will be the surrender value of my policy and is there any tax liability on the same? I am,instead,planning to take a term plan. Shalini Mathur,Lucknow If you surrender your Jeevan Saral policy immediately after lock in,the policy would acquire the Guaranteed Surrender value,equal to 30 per cent of the total amount of premiums paid,excluding premium for the first year. However,you will get 80 per cent of Maturity Sum Assured,if the policy is surrendered before 4th policy year is completed. Also,surrender is subject to the condition that all premiums have been duly paid. Further,Surrender Value received by you will be exempt from any tax under Sec 10(10D) of IT Act. There are many options available in term plans. You can consider a cost effective online term plan as the premium is very less compared to traditional term plans. The expert is Business head,Rupeetalk.comFor your personal finance queries please email at expressmoney@expressindia.com
