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Importance Of Declaring Pre-Existing Disease While Buying Health Insurance

Published On Feb 20, 2021

A pre-existing medical condition refers to any underlying, asymptomatic medical condition that an individual might have. In terms of a person’s health, pre-existing medical conditions often contribute to an individual’s susceptibility to certain illnesses and a debilitating effect on their health as well. In pure insurance lingo, a pre-existing medical condition refers to those illnesses or diseases that the policyholder had before the tenure of their insurance policy.

Many people make the common mistake of not disclosing their pre-existing medical conditions to their insurance providers while buying an insurance policy in fear of getting their claims rejected. However, what they do not realize is the fact that this can be the very reason for not getting their claims and other benefits accepted by the insurance company, sometimes leading to complete rejection. In this article, we are going to talk about why it is important to declare your pre-existing diseases while buying health insurance. Let’s find out from the pointers below- 

Why Should You Disclose Your Pre-Existing Diseases While Buying Health Insurance?

The following are a list of pointers that elucidate the importance of disclosing your pre-existing disease while buying health insurance -

1. Pre-Existing Diseases Are Compensated After the Waiting Period

All health insurance plans come with a predetermined waiting period during which no policyholder can make any claims towards their insurance provider, nor is the insurance company liable to pay r any of their medical expenses. In other words, specific benefits and facilities cannot be availed by the policyholder during this period of time. Depending on the length of this period, if there are any medical emergencies or complications due to the policyholder’s pre-existing condition, they are not covered by their health insurance provider. However, most people are not aware that once the stipulated waiting period is over, which can be anywhere between a few months to almost 2 years, most of their pre-existing medical conditions and complications caused by the same are financially covered by their insurance providers. Therefore, it is very important for you to disclose your underlying medical conditions, if any, to enjoy all-around financial and medical coverage.

2. Pre-Existing Diseases Assess Your Risk Cover

Contrary to the popular notion that the coverage provided by your health insurance provider does not take pre-existing diseases into its purview, the entire assessment of your health and risk cover is actually based on the complete disclosure of your medical history and pre-existing conditions. In some cases, the amount of insurance coverage and benefits are modified according to the disclosure of your underlying medical conditions and what effects it might have in the future. Hence, it is extremely pertinent for you to mention your insurance provider about your pre-existing medical conditions if you want to ensure maximum financial benefits and coverage.

3. Misinformation Can Lead To Breach Of Trust

The information that you provide in your proposal form for a particular health insurance policy is accepted by your insurance provider as a ‘bona-fide’ application; meaning by extension that whatever information you have provided has been done so in utmost good faith. If you face a medical complication that arises from your pre-existing medical condition and it has not been disclosed by you to the insurance company, it can lead to a breach of trust on grounds of misinformation and your claim and policy can be rejected.

4. Buying A New Policy Becomes Difficult

If your previous policy was terminated for the non-disclosure of information, it becomes difficult to apply for a separate insurance policy as well. While applying for a new insurance policy, you need to provide the documents of your last policy and if your insurance providers are aware that your policy or claim was rejected for breach of trust or misinformation, they have the right of refusing a financial and medical cover to you. Thus, opting to disclose your medical history is a wise choice to avoid harassment in times of your financial need.

Now you know why it is important to disclose your pre-existing medical conditions while buying a health insurance policy. Non-disclosure or misinformation can land you in trouble and make it difficult for you to avail yourself of the services from other insurance providers, while a little patience and complete information about your medical history can actually help you to reap maximum benefits from your insurance policy. You should bear these points in mind while investing or buying a health insurance policy and be ensured of all-around protection.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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