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Does having a pre-existing illness mean that you cannot get health insurance?

Pre-existing illnesses, if any, should not stop you from exploring and purchasing health insurance that caters to your specific situation. Health insurance is a must-have for everyone. In fact, its importance has only grown manifold in the pandemic where a lot of people and/or their family members actually experienced the benefits of having health insurance.

What do we mean by a pre-existing illness/disease? 

A pre-existing disease or PED as it is referred to in insurance terms means any illness or condition that a person already suffers from even before he/she purchases insurance. Diabetes, high blood pressure, asthma, thyroid, heart ailments, etc. are some common examples. Do note that it is also important to truthfully declare having a pre-existing disease to avoid any issues in case you have to raise a claim.

Why having a pre-existing disease makes it even more essential to get health insurance  

Given the advancements in the field of medicine, a health issue regardless of its criticality can be treated successfully. However, in light of new COVID protocols and medical advancements, the increase in the cost of treatment has become a financial challenge for many. With pre-existing diseases, the treatment & recovery process may continue over a longer time duration and requires financial capacity & strength to sustain the associated expenses. 

All this makes it even more essential to have a comprehensive health insurance plan in place when you have a pre-existing disease. 

However, there are a few important points that you must keep in mind when you purchase a health insurance plan if you do have a pre-existing health condition anxnr 

Things to look out for when buying health insurance with a pre-existing medical condition

Make sure to read the fine print

Every health insurance plan has its own set of features, benefits, coverage, and exclusions. You need to go through the terms of a plan to see if your specific pre-existing diseases are covered. It could also be the case that a specific condition is not covered or only covered after a certain time. Be sure to go through the documents and always ask questions if you feel that any information is unclear.

Waiting period is for real

A waiting period is the time specified by insurers when some coverages may not be applicable for a claim. You must be sure to check the waiting period for pre-existing diseases. Pre-existing diseases may be covered but with a waiting period of let’s say 24 months. So although you have coverage, the benefits can be claimed only after a certain time. 

Make sure to be transparent with the insurer

Keeping your insurer informed about your pre-existing diseases will save you from claim rejections in the future. It is always wise to provide complete information about your health conditions

Now that we’ve discussed the points to keep in mind when you buy insurance with a pre-existing disease, we’re hoping you feel more confident about choosing a plan that works best for you. Making an informed decision is always a smart decision. If you still haven’t insured your health and have more questions or want to explore plans that suit your needs, log in to the Bajaj Finserv App.

Anywhere, Anytime insurance with the Bajaj Finserv App

The Bajaj Finserv App is a high utility App that takes care of all your financial needs including insurance. On the app, you can explore benefit rich health insurance plans from our trusted partners. Here you can view product features, compare prices and purchase a plan that is best suited to your needs. All this in a matter of minutes and from the comfort of your home. It truly is becoming the new way to buy insurance. If you or your family are still to experience the security of health insurance, login to the Bajaj Finserv App and get started now

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