Health Insurance: Healthcare costs are skyrocketing significantly. And,
this is when health insurance comes in handy. The financial security of an
individual is protected by having health insurance. With the ever-rising
instances of diseases, health insurance today is a necessity. However, there
are several things one needs to keep in mind at the time of purchasing health
insurance. Experts advise people to disclose pre-existing conditions or
diseases while buying a health insurance policy
Factors individuals with pre-existing conditions should be aware of while
purchasing Health Insurance
It is important to keep in mind that insurers charge higher premiums to people with pre-existing illnesses.
According to Ajay Shah, Head –
Distribution, Care Health Insurance while purchasing health insurance for an
individual with pre-existing medical conditions, there are a few crucial
factors that one needs to keep in mind.
1)First among them is to ensure that the Health
Insurance policy covers the pre-existing ailment and its
contingent/related conditions.
2)Secondly, a thorough understanding of the terms and conditions of the waiting period for the ailment is necessary.
3)The policyholder should read policy documents carefully and understand
if any limitations or exclusions such as co-payment, sub-limit, or deductible
apply to the pre-existing disease.
1)First among them is to ensure that the Health Insurance policy covers the pre-existing ailment and its contingent/related conditions.
2)Secondly, a thorough understanding of the terms and conditions of the waiting period for the ailment is necessary.
3)The policyholder should read policy documents carefully and understand
if any limitations or exclusions such as co-payment, sub-limit, or deductible
apply to the pre-existing disease.
Awareness about these components can aid individuals in making informed choices while getting a health Insurance that not only covers their pre-existing diseases, but gives assured quality servicing at affordable prices – a truly Comprehensive Health Insurance plan, said Ajay Shah.
