ICICI Lombard clarification on the material change clause in health insurance policy: All you need to know

Health insurance policies often have something called a material change clause, which can be confusing for many people.

"The material change clause does not mean your premiums or coverage will go up if you develop a new illness after your policy starts. ICICI Lombard follows all IRDAI rules and industry standards," the insurer said.

• The material change clause and renewal clause are designed to work together in a way that benefits customers.

• In fact, if your health improves, you might even get a reduction in premiums at renewal.

• When you share your health details, it also helps us offer free health check-ups and wellness programs to keep you healthy.

• You won’t need any fresh medical tests when renewing, unless you:

Increase your sum insured

Add new family members to your policy

Choose to include extra covers

The insurer said that it has never rejected a claim because of the Material Change Clause.

What is the material change clause?

It asks you to tell the insurer about any new illnesses or medical conditions when you renew your policy. Based on this information, the company can adjust its coverage or premium if needed.

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