10 Things to Know About Health Insurance for Pre-Existing Medical Conditions

Won’t it be heartbreaking to find out that the claim against your medical insurance policy was rejected because of a pre-existing disease? It would be saddening if you weren’t even aware of the term pre-existing disease! Do not be ill-informed, especially when it comes to a medical insurance policy.

Here are 10 Things About Health Insurance for Pre-existing Conditions

1. Pre-existing conditions

   These are medical conditions that you already have at the time of purchasing medical insurance plans. It is necessary to declare pre-existing conditions when you buy health insurance.

2. Non declaration

   Non declaration of pre-existing diseases will be troublesome at the time of claims. Your claim won’t be honored if it was found out that the pre-existing condition was not declared upfront.

3. Waiting period

   It is the period of time for which you have to wait before the health insurance policy covers the pre-existing diseases. Usually, the waiting period is between 2 and 4 years. Your health insurance policy won’t cover medical issues arising due to the pre-existing disease during the waiting period.

4. Premium loading

   The health insurance company might charge you a higher premium for covering pre-existing diseases. Note that this is applicable when you buy health insurance and not while renewing it (considering there is no break).

5. Medical Checkup

   The insurance company might want you to undergo some tests with respect to pre-existing diseases. For example, if a person is suffering from diabetes, that person’s sugar levels would be checked before issuing the policy.

6. Permanent exclusion

   In certain cases, the insurance company might permanently exclude the pre-existing disease from the cover. This means, you shall get the health insurance cover but the pre-existing disease shall be excluded from it.

7. Policy denial

   In case of chronic diseases, the insurance company might deny offering health insurance. For example, if a policy seeker has a medical history of a life-threatening disease, the insurance company might not offer a health cover.

8. Congenital diseases

   Congenital diseases are different from that of pre-existing diseases. Diseases present by birth are termed as congenital diseases. It can also be a physical abnormality. Insurance companies often permanently exclude congenital diseases. People with a pre-existing condition have a better chance of getting insured as compared to people with a congenital disease.

9. Terms and conditions

   The minor asterisk sign associated with terms and conditions can be a major hurdle when it comes to claim settlement. Thus, one must make an informed policy purchase decision. The points mentioned above make it important for you to read and understand various terms and conditions of the policy before purchasing it.Usually, all information about medical insurance plans in conveyed transparently on an insurance company’s website. But if you find it difficult to understand some points, you can get in touch with the insurance company’s support team and get your doubts cleared.

10. Compare and buy medical insurance plans

    Researching about health insurance policies has become easy thanks to the digital revolution. You can use your internet-enabled smartphone to compare and buy medical insurance plans. While comparing and purchasing, remember to take into consideration the coverage of the policy, insurance premium and the credibility of the insurance company offering the policy.

Fair Practices

It is expected that insurance companies be fair when it comes to awarding compensation. Every policyholder wishes for maximum claim settlement. Similarly, one should be transparent when it comes to disclosing information as well. One must be fair and proactively declare pre-existing medical issues to avoid hassles during claim settlement.

Also, read: Pre-Policy Medical Check-Up and Tests

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