It is an unfortunate reality of life that health issues can strike at anytime. Whether it is because of your medical record, family health history or lifestyle factors, it can disrupt your life without any warning. Most importantly, it can quickly exhaust your savings if you are not financially prepared for it.
To protect yourself from uncertainty and live a comfortable life, it is important to safeguard yourself from any sudden illnesses and the financial burden they might bring along with them with the help of a good health insurance plan.
If one has pre existing health conditions and illnesses, it is important to understand about the waiting period in pre existing disease health insurance which can help you secure your future and live a peaceful life. To understand pre existing health insurance better, let’s first understand what the term ‘pre existing illness’ means in the insurance industry.
What Is Pre Existing Diseases?
Pre existing diseases and health conditions are any illnesses that you may already have at the time of purchasing a health insurance policy. In this situation, the terms and conditions may slightly differ from usual when it comes to the coverage of the policy.
Some pre existing illnesses have a waiting period of 48 months before you can claim the policy benefits. If you are a person with prior medical conditions, then understanding more about the pre existing disease health insurance is crucial for your future health and financial planning.
Things To Know About Pre Existing disease Health Insurance
There are many things one can consider when a person opts for a pre existing disease health insurance. Some of these points to consider before buying a health insurance for pre existing diseases are mentioned below:
- All Policies Are Different
When buying a pre existing disease health insurance, you should always remember that all health insurance policies and their terms and conditions differ from one another in many ways with respect to pre existing conditions. You should always check for the waiting period and list of diseases that are covered in the policy.
- Not All Conditions Are Pre Existing Diseases
It is important to remember that in a pre existing disease health insurance, every prior visit to the doctor is not considered as a pre existing disease. Only diseases and illnesses that have hampered your health and caused trouble for a long period are considered can be considered as pre-existing illnesses. Minor illnesses are not a part of the list of diseases covered.
- Disclose All Medical Conditions at The Time of Purchase
When buying a pre existing disease health insurance, it is crucial to disclose all your ailments and medical history that is important and can have an effect on your further years, even if it is small and insignificant from your end. If any ailment or sickness is missed out, your claim might get rejected if something comes up in the later years.
- Pre Existing Diseases Can Be Covered
It is always important to remember that even though there is a waiting period of about 2 years in most health insurance policies, when it comes to pre existing diseases in health insurance, it can save you from financial troubles in the future. Working around the waiting period and then utilizing your policy to its full potential is imperative to reap the benefits from a health insurance policy.
Evidently, when it comes to pre existing disease health insurance, it is always best to get a plan which has a waiting period for pre existing diseases and health conditions as it is always beneficial in the future years for a person with ailments.
Insurers like Care insurance offer customisable health insurance policies which offer a waiting period for pre existing diseases as well to secure your medical and financial future in the best possible way. Head to their website to understand the benefits to make an informed decision.