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What do you mean by pre-existing disease?

With significant inflation of healthcare expenses, purchasing a comprehensive health insurance policy has become essential. It enables individuals to get necessary treatment without liquidating their savings. However, buying an all-inclusive medical insurance policy can be challenging for individuals with pre-existing diseases. The reason being insurers are reluctant to offer coverage to proposers with pre-existing health problems.

Before digging deeper into the limitations of mediclaim for pre-existing diseases and its financial coverage, it is essential to understand the meaning of pre-existing health conditions.

What is a pre-existing disease in health insurance?

Pre-existing diseases refer to medical conditions that intending policyholders are already suffering from while purchasing an insurance policy. These may include asthma, thyroid, high blood pressure, etc. Cases of severe injury causing disability due to accidents may also be referred to as pre-existing conditions depending upon the state of the injury.

Moreover, IRDAI, the insurance regulator, has relaxed the norms of pre-existing diseases, significantly benefiting the policyholders. IRDAI has previously changed the meaning of pre-existing diseases twice. As per current regulations, if a policyholder is treated for any disease within the first three months of purchasing policy, it will not be regarded as a pre-existing disease.

Usually, the waiting period for pre-existing diseases in health insurance policies ranges between 30 days to two years. However, it varies from one insurance provider to another. Some might provide financial coverage based on specific terms and conditions and levy substantial premiums against it.

Hence, policy buyers must disclose pre-existing diseases while they purchase a medical insurance policy. If the individual does not do that, pre-existing diseases will be regarded as a non-disclosure/non-declaration. In this regard, a concerned insurer can refuse to offer financial coverage during the policy term. In addition, they may entirely reject claims to cover any expenses throughout the policy term.

Usually, insurance companies are reluctant to provide a health insurance policy for pre-existing diseases. Individuals suffering from pre-existing diseases are likely to initiate regular claims, and often, the financial burden is significant for all parties included in an insurance agreement. However, anticipating an illness in advance is not possible, but an insurer must know about customers suffering from health issues, as it will help them to serve policyholders better. Individuals with a pre-existing condition often get various clauses in their pre-existing disease health insurance policy associated with the coverage, claim settlement and other processes.

However, one must know the pre-existing disease list when purchasing a medical insurance policy. Some of these are listed below:

• High blood pressure
• Asthma
• Thyroid
• Lupus
• Diabetes
• COPD

How to buy a health insurance policy if a person has a pre-existing disease?

Individuals with pre-existing conditions may go through several health issues. As already stated, insurers can cancel financial coverage, refuse to pay medical bills, etc., if a pre-existing illness is not declared. You can follow a quick rundown of some tips to seek the best health insurance for pre-existing conditions:

• Opting for the correct insurance provider

Obtaining a medical insurance policy can be challenging when an individual suffers from a pre-existing health issue. However, some insurance providers are not stringent. For example, Bajaj Finance Limited, a leading corporate insurance agent, offers comprehensive health insurance policies with affordable premiums.

Some insurance providers consider the entire medical history of the potential policy buyers when determining pre-existing health issues. In contrast, others only evaluate the medical history of the past two years.

On the Bajaj Finserv website, you can find a range of family health insurance policies that provide substantial financial coverage.

• Disclosing pre-existing diseases

Insurance buyers must not hide their pre-existing diseases because if it is revealed during treatment, the insurer can reject medical insurance claims.

• Working around the waiting period

Whether an individual purchases a single plan or family medical insurance policy, there is a certain waiting period that refrains one from filing a claim in that particular period. This duration may vary depending on the insurance provider and the applicant’s medical condition. Moreover, it also depends on the severity and how long has the applicant been living with pre-existing diseases.

Bajaj Finance Limited offers the best insurance plans for people with pre-existing diseases

The average medical expense is rising every year in India. Moreover, the global health crisis in the last two years has affected the financial well-being of many. With Health Insurance policies, individuals can financially cover their loved ones and ensure the best treatment during medical emergencies without any financial stress. In this context, Bajaj Finance Limited, a leading corporate agent, extends a wide range of comprehensive medical insurance policies catering to the demands of policy buyers.

Moreover, they also offer an inclusive policy for individuals suffering from different pre-existing diseases. Individuals can receive financial coverage for up to 60 days before hospital admission and 90 days post-hospitalisation as per this policy. Besides, this medical insurance plan covers the expenses of routine and periodic health check-ups.

Furthermore, individuals can also avail different types of medical insurance policies such as family floater insurance policy, group health insurance, senior citizen health insurance, critical illness insurance policy and more. With convenient online applications, individuals can get their preferred policy.

Having said so, individuals should purchase a health insurance policy for pre-existing diseases from credible insurers. Their processes are transparent and offer plans that suit one’s requirements. However, one must go through the policy terms to avoid future hassles and complications.

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