Q: My father suffered a massive heart attack and died on Feb. 15. We are planning to go on final exit this month. While checking my father's papers, I found his motor insurance policy with certificate of insurance. The one-year SR2450-premium policy started this January. But we sold the car last week. Can I get the refund of premium as we no more own the car and will be leaving the Kingdom soon.A: Your father's policy is valid till the end of this year. As you no more own the vehicle, you are entitled to get the refund of premium. You need to provide a letter requesting cancellation of the policy with immediate effect. Later on you produce a copy of transfer letter or the new istimara of the vehicle with new owner's name and provide some proof that you are representing on behalf of your family. You also need to surrender the insurance policy set along with the Certificate of Insurance. You will be entitled for short period scale rate of refund, but you can request your insurer's to provide refund on pro-rata basis. Normally the entire process is completed within a day or two. However, if you anticipate delay you can provide your contact and account details of your home country so that the insurance company can transfer the refund amount to you.Q: We are having a CCHI policy with a major insurer. The wordings are standard. My wife is suffering from migraine for more than two years. Previously we had a normal policy and I used to buy the tablets from outside and get the re-imbursement. But now when I submitted the bills they refused to settle the claim saying that the treatment is for psychiatric condition. The drug is used to treat such conditions. Why psychiatric conditions are not covered under the policy?A: The CCHI policy specifically excludes “psychological treatment, mental or nervous disorders, except of acute cases.” Taking any treatment related to one of the conditions mentioned are excluded from the purview of the policy, unless it is an acute case. The drugs which you have mentioned are the psychotic drugs and used as a maintenance treatment for psychological illnesses, hence it was denied. If you are sure that the drug is not related to a psychological/mental/nervous illness and able to substantiate your point then the insurance company will be forced to have a re-look into it.* Shujaath Ahmed Khan, an M.B.A., General Manager, Creative Associates, is a consultant and an expert in Insurance, Investments and Real Estate. He can be contacted at [email protected], website-www.creativeassociates.blogspot.com __
