Medical insurance for pre-existing conditions
Most regular health insurance companies cover pre-existing conditions
For the uninitiated, a pre-existing illness is an illness or complaint that the insured had while purchasing health insurance
If you have health insurance, your health insurance company will cover the cost of treating your pre-existing conditions. However, coverage for most plans is not available from Day 1.
After a waiting period of 2 to 4 years, your health insurance will take over treatment of your pre-existing conditions. As long as the PED waiting period has not expired, any claims related to your pre-existing conditions will be denied by your insurance company. However, some plans cover pre-existing conditions from day one of the policy.
In addition, insurance companies also charge higher premiums for people with pre-existing medical conditions. This is because these individuals are the most likely to file a claim and therefore create a greater liability to the insurance company.
As a result, many people hide their pre-existing diseases from insurance companies when purchasing health insurance.
But this is simply not desirable.
Why do you have to report previous illnesses to your insurance company?
Not disclosing your health status is a common mistake many people make when shopping for health insurance.
why is that?
so! A health insurance policy is issued based on the information provided to the insurance company in the application form completed by the applicant. Everything you fill out on the application form will be deemed true and will be accepted in good faith by the insurance company. If you have a pre-existing medical history, you should disclose it truthfully on your claim form
But it would be a breach of trust if you didn’t mention your previous medical condition on this advice form. Therefore, if the insurance company discovers your previous illness in the future, the policy will become invalid, and the insurance company has the right to refuse your health insurance claim. This means you pay your premium for nothing.
That’s not all.
In some cases, you may also face legal consequences for providing false information and fraud. So if you want to avoid problems like this, being open about your medical history is the best way to go.
Pre-existing conditions are an ugly truth no one wants to hear, but it reinforces why health insurance is a must for everyone. However, don’t make the mistake of hiding your pre-existing conditions from your health insurance company if you don’t want your future claims to be denied. Be sure to provide accurate personal information and medical history so that coverage for pre-existing conditions is available even if it becomes available after the waiting period.