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Health InsuranceFebruary 22, 2021

Can a person with pre-existing illness eligible for buying health insurance? Here is the answer

Covid-19 has made us aware of the importance of health and financial security in life. Thus, health insurance has experienced a significant jump in demand, primarily driven by Covid-19. The ever-increasing medical costs always remain on the higher side in contrast with any amount of income. Moreover, individuals with pre-existing diseases are considerably more helpless to high medical expenses and must consider buying health insurance to save their hard-earned money.

Can a person with pre-existing illness eligible for buying health insurance Here is the answer

In such a situation, the Insurance Regulatory and Development Authority of India (IRDAI) and insurance providers together have improvised products, terms and conditions and the process of selling health insurance, henceforth making buying health insurance very simple to understand and easy to buy. For instance, with the digital underwriting process becoming the new norm, no physical medicals are required apart from rare cases. Products with disease management benefits are offered to the policy buyers, which means the policyholders receive health insurance policy and wellness benefits to make sure that their pre-existing ailments don’t worsen with time. And likely, the most significant is low waiting periods.

Typically, health insurance policies come with 2-4 years waiting period in case of pre-existing disease. This can be an area of concern for many individuals, particularly those who think they might need to claim in the coming months. There are now choices for such people to choose Day 1 Coverage plans, which implies that their prior conditions are covered from Day 1 itself. This is an important development for an individual with pre-existing diseases.

For instance, a few years back, people were usually denied coverage under a health insurance policy in case of a common pre-existing disease like hypertension or high blood pressure. However, with the change in underwriting guidelines, people with such existing disease such as high blood pressure can now easily get a health insurance plan. A medical coverage plan for hypertension can help you save hospital admission costs and further covers your doctor’s visit and OPD bills. Today, clients with any previous illness, be it even cancer, heart, kidney, or lung-related disease, can undoubtedly get exhaustive health care coverage without getting a physical medical test done.

However, it is essential to disclose information about previous medical conditions correctly. 

Medical coverage policies nearly are sold and bought in the most extreme confidence. If you shroud any data at the time of filling the health insurance application form, the insurance agency can dismiss your claim based on the false data you had provided. To avoid claim rejection, you need to provide correct data about your previous health conditions and each other detail genuinely.

Additionally, while buying health insurance, it is essential to remember some important things that include the coverage amount, which must be decided according to the number of your family members and their age. The other important point is the waiting period of the health insurance plan that you are buying. It is advised to purchase health insurance with a minimum waiting period in case of major critical illnesses.

The bottom line is search for plans that accompany zero co-payment and sub-limits for treatment of various conditions and room lease. To get more clarity on health insurance plans and their benefits, you can visit BimaKaro.in. You can also speak to their insurance experts, who will guide you to opt for the right health insurance plan based on your requirements.

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