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All About Pre-Existing Diseases in Health Insurance Policy

Health insurance is the need of current time as it not only provides medical facility but it also works as a financial backup at the time of medical emergency. However, sometimes due to certain pre-existing medical conditions, it becomes difficult for us to select a suitable health insurance plan. So, before starting to discuss the limitations of pre-existing diseases in a health insurance policy, let us all know what does a pre-existing health issue means.

A pre-existing health issue is a medicalissue that already exists in a policy aspirant before buying a health insurance policy. Some of the pre-existing medical conditions are – blood pressure, thyroid, diabetes,asthma, etc.

Health Insurance Companies Do Not Like Pre-Existing Health Issues

Most of the health insurance providers do not like to cover pre-existing health conditions of the new policy aspirants. This is because those who have pre-existing medical conditions often have to undergo many procedures and the harsh truth is no insurance company wants to insure a person who may impose a higher financial risk to the insurance provider.

Definition of Pre-Existing Disease by IRDAI

As mentioned above, diabetes, blood pressure, thyroid, etc. are considered as pre-existing ailments. However, this is not it, many health ailments may come into the category of pre-existing illnesses. To make health insurance accessible to most people and even including those who have pre-existing illnesses, the Insurance Regulatory and Development Authority of India (IRDAI) has made a few amendments to pre-existing diseases’ definition. According to this new definition:

This amendment was released in October 2020 and after its release, there has been a reduction in the rate of claim rejection among the policyholders.

Conditions Imposed by Insurance Providers for Pre-Existing Health Issues

Certain conditions are imposed by the health insurance providers for pre-existing health issues. These conditions are:

Points to Keep in Mind When Purchasing a Health Insurance Policy with Pre-Existing Medical Issues

The main issue is people with pre-existing health problems often have to go through many procedures. This may increase the chances of claim rejection by the insurance provider, sometimes even the cancellation of coverage is also seen in such cases. At this stage, one may wonder how he/she should work around such issues? Here we are mentioning some quick tips to find the most suitable health insurance policy especially when one has pre-existing health issues:

Working around the waiting period is one of the best ways to buy a suitable health insurance plan for those who have a pre-existing medical issue/s.

Summing it Up!

So, one can buy a health insurance plan even if he/she has pre-existing health problems. It is all about informing the insurance providers, considering the waiting period as per the suitability, and then selecting the right coverage.

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