Health Insurance for Pre-Existing Illness

Health insurance is indispensable for financial stability during medical emergencies. It is even more essential for individuals who have pre-existing diseases. So, if a pre-existing condition makes you wonder, “Is health insurance even an option for me?” the answer is a resounding yes.

This article explains everything you need to know about health insurance for pre-existing diseases. 

Understanding Pre-existing Medical Conditions

Pre-existing medical conditions are health problems an individual has before purchasing health insurance. According to IRDAI, any medical condition that the insured person had before the policy issuance and which was diagnosed within 48 months before buying the policy is called a pre-existing disease. 

This could involve chronic illnesses like diabetes and hypertension, as well as acute conditions like asthma. Insurers usually classify these conditions according to their type, severity, and management.

Since the probability of falling ill is high for an individual with pre-existing conditions, comprehensive health cover becomes essential. It helps you get treatments without being burdened with the costs.

The Impact of Pre-existing Conditions on Health Insurance

1. Increased Premium

The initial consequence of pre-existing conditions on health insurance is a high premium. Insurance companies usually increase their prices to minimise the risk of covering people with health problems. 

2. Waiting Period

Most insurance policies have a waiting period (1-4 years) for pre-existing conditions. Therefore, you may not be able to take advantage of all the features and benefits of health insurance at this time.

3. Exclusion from the Policy

The insurance policy may not cover some conditions (such as pregnancy, infertility, and congenital diseases), which means you must pay for all the treatment-related costs of the pre-existing condition.

4. Additional Medical Checkup/Validation

Insurers may need to conduct additional medical examinations or validations for people with pre-existing diseases. You must check what pre-existing conditions on health insurance are covered by your insurer before opting for one. 

Why You Should Not Ignore Health Insurance If You Have Pre-Existing Illnesses?

1. Financial Security Against Medical Emergency

Health insurance acts as a reliable financial defence against unexpected medical expenses. It becomes a lifesaver for those with pre-existing conditions, as it provides a safety net that guarantees access to required medical attention without a bank-breaking financial burden.

2. Access To Best Healthcare Services

Health insurance ensures the affordability for high-quality healthcare services without having to worry about the financial aspect. This is especially important for people with pre-existing conditions, where quality care can really matter.

3. On-time Access to Hospitalisation and Domiciliary Benefits Without the Burden of Expenses

Insurance removes the financial burden of hospitalisation and domiciliary care, making disease treatment less stressful. This immediate access is especially important for those with pre-existing illnesses, where further delays could worsen the existing issues.

4. Long-term Protection for Known Risks

Health insurance provides long-term protection against known risks, offering unbroken coverage and assistance for managing health over the years. It is more critical for people with pre-existing conditions.

Remember These if You Have Pre-existing Diseases

1. Do Not Hide Details

Honesty is the cornerstone of health insurance applications. Concealing pre-existing conditions may result in policy denial or even the voiding of an existing policy.

2. Get a Plan That Covers Your Pre-existing Illness

Choose an insurance plan that explicitly covers pre-existing conditions, ensuring that specific health needs are met.

3. Get Insurance Irrespective of the Waiting Period

Securing insurance as soon as possible is crucial, even if a waiting period is involved. It guarantees coverage becomes available when the waiting period concludes.

4. Get Insurance Irrespective of Increased Premium

Despite potential higher premiums, the long-term benefits and financial security provided by insurance outweigh the initial costs.

5. Take Separate Plans for Members with Pre-existing diseases and Members Who Are Healthy

Considering separate insurance plans for family members with and without pre-existing conditions ensures tailored coverage that addresses everyone’s unique healthcare needs.

Purchasing Health Insurance Online Made Easy

We understand how pre-existing illness can impact an individual, and not having adequate health insurance coverage can add financial burden. Hence, accessing the best health insurance for pre-existing diseases becomes increasingly essential. 

Phone pe streamlines the entire health insurance process by partnering with major providers. Moreover, you can avoid the hassle of completing long application forms by completing the application process online and on the go. 

Key Takeaways

Health insurance offers financial security and peace of mind, especially for individuals with pre-existing illnesses. As we navigate life’s uncertainties, securing health insurance becomes not just a wise choice but a fundamental necessity for anyone, especially for those with pre-existing illnesses. Check out the top health insurance plans in India and secure your loved one’s life.