Many general insurance companies today are putting a constant effort to mull down the restoration facilities introduced by many well known health insurance companies. Under this facility, the sum insured of the policyholder is reinstated whenever the policy has been utilised due to certain illness or accident. Recently the health insurance companies introduced such a policy to help policyholders get enough benefit, but general insurance companies are still finding it difficult to keep a track of all the work.
General insurance companies are getting more active into this forefront and are looking to mull down the restoration facility on a serious level because they feel that the health insurance segment needs to be taken to another level. There are also certain insurance companies that are introducing flagship products with various options to draw more and more people towards it and at the same time serve people with the best of benefits.
There are also certain companies that are analysing the insurance plans that involve restoration facility. These companies are also developing a plan that involves higher sum insured. Such policies have been introduced, because the health insurance plan that involves restoration facility compels many policyholders to pay more premium than a plain vanilla mediclaim policy. So, basically a policyholder has to pay extra to take advantage of the restoration policy.