New Delhi, Oct. 27 -- ICICI Lombard General Insurance has said that the 'material change' clause in its two popular plans will not change the terms of coverage or the premium amount if the insured develops a new disease after the issuance of policy.

The clarification follows concerns raised in social media platforms that ICICI's 'Elevate' and 'Health AdvantEdge' policies and several other health insurance plans could reject claims citing this clause if the insured is diagnosed with a new disease within months of the issuance of the new policy.

"Due to the material change clause, a policyholder's premium or coverage will NOT be altered if they develop a new disease or condition after policy issuance," ICICI Lombard said in its update to ...