Health insurance plans involve various features and limitations which customers must know to be able to compare different mediclaim policies online and select a product which suits them the best. It also helps to reduce the premium amount. So, develop a process to buy a plan.
he pre-existing disease as any condition, injury, ailment or related conditions for which the policyholder had symptoms, and/or was diagnosed and/or taken medical treatments within 48 months before purchasing a Health Insurance
Those who are suffering with pre-existing diseases and are planning to buy a policy must know that these ailments are insured under a plan after specific years of waiting period. In case you had or have any ailment in the last four years before you purchased health insurance for the first time and were aware of that ailment, it will be considered as a pre-existing disease.
Further, the ailment or any other related conditions will not be insured for the next 4 years. The policy will cover that disease from the fifth year. Any ailment which you contract after you purchase the health insurance is not considered as a pre-existing disease.
Generally, the waiting period for pre-existing diseases is one of the main reasons why health insurance claims not approved because, according to insurance companies in India, majority of claims registered in the initial years of purchasing the plan are based on pre-existing diseases.
But, insurance experts feel that this concept is not watertight as the insured person may have symptoms of a pre-existing ailment but may not know that they have contracted the ailment. Now, insurance companies in India provide a waiting period of around four years on pre-existing diseases.
In fact, some insurers have begun decreasing the waiting period. Therefore, those insurers that give shorter waiting period on pre-existing diseases have been given higher scores.