Buying health insurance? Six factors individuals with pre-existing conditions should be aware of while purchasing a plan

livemint.com:

health insurance policy. 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. 4) Some policies may not cover or have limits on coverage for certain procedures or treatment of these pre–existing ailments.

Being aware of these limitations helps one make informed decisions about their health security. 5) Individuals with pre-existing diseases should declare all their medical conditions in the proposal form filing or during the process of underwriting.  6) Some people may have to pay a higher premium as compared to those without such conditions.

Therefore, it becomes crucial for one to carefully compare premiums and terms & conditions across different insurers & products to find the best-suited plan at an affordable price. 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.