The presence of a pre-existing disease does not exclude you from purchasing private health insurance. In some situations, a contract can be finalized if the pre-existing disease is taken into consideration by excluding benefits or with a premium fee. A comparably comprehensive health examination is required for this.
Do Pre-existing Disease Health Insurance coverage, on the other hand, cover pre-existing conditions — those that you already have? Yes it does. But purchasing a health insurance plan early in life is advised. This not only provides a reduced premium but also greater coverage, as the risks of contracting diseases are lower at a young age than they are in an older body. Not to mention, in case you do contract a chronic disease later, it will be easily covered under your existing policy. This article will tell you all you need to know about health insurance if you already have an illness and still want to get a health insurance to cover it.
You are more likely to get insurance if you have a medical condition, a history of any disease, or cancer, or if you have any concerns about your health.
The following criteria apply to all applications in general, although they are especially significant in the case of pre-existing diseases:
- All relevant health information must be supplied in a genuine and thorough manner. Aspects should not be hidden or glossed over under any circumstances. Otherwise, the insurer has the option of terminating the contract retrospectively.
- To minimize unnecessary delays in the health check, existing medical certificates should be supplied with the application.
- In order to assess the risk, the insurer may seek extra medical exams. In case the policy is rejected, the applicant will be responsible for covering the expenses of these treatments. However, if the insurer decides to give you the policy, you don’t have to pay anything from your pocket.
What Effect Does a Pre-Existing health condition have on your Health Insurance Coverage?
Health Insurance is a concept in which an insurance company provides financial aid if a medical emergency occurs to the insurd, as long as the terms and conditions are followed. Because the insurance companies are aware that a person has a pre-existing ailment, the possibility of a claim increases in this situation. As a result, insurers are hesitant to cover pre-existing conditions. Some insurance companies may cover them if the terms and criteria are met, but they will demand a higher rate.
Assume you were recently diagnosed with Type II Diabetes. If you obtain health insurance today, any treatments or hospitalization incurred as a result of your disease will not be covered by your policy immediately. Diabetes is a pre-existing illness in this situation, which explains why there is a long waiting period for it. Until the stated waiting time has expired, the insurance provider will not be responsible for any expenses paid for treating this disease. The waiting time is about 48 months in most circumstances.
In such conditions, buyers think a lot about whether they should buy the policy or not. High premium often creates a sense of dread that they will be forced to pay because of the increased risk. However, declaring a pre-existing health problem while acquiring a health insurance plan is recommended. The simple reason for this is to avoid issues emerging from your pre-existing sickness while collecting Pre-existing Disease Health Insurance benefits in the future.