Key Factors for Buying Health Insurance with Pre-Existing Ailments

Published By: Financial Express ​

Published Date: 28-03-2022

With the increased risk of contracting infections and rising medical expenses, health insurance becomes an ultimate necessity.

Rakesh Jain, our CEO, discusses the challenges of getting a health insurance policy for older adults, especially those who suffer from pre-existing health conditions, like blood pressure and diabetes.

He shares a few key insights and tips on selecting the best health insurance plan for individuals with such pre-existing health conditions.

Firstly, pre-existing diseases can be covered under health insurance. However, the coverage is available subject to a minimum waiting period and specific policy terms and conditions. Rajesh Jain explains the factors influencing this waiting period and how to make a wise decision.

He also emphasises the importance of disclosing all the existing health conditions at the time of policy purchase to prevent claim rejection. In addition, he explains why you should research the different products available in the market to benefit from lower waiting periods and better evaluation criteria. He also highlights how the option of purchasing a reinstatement plan can be advantageous.

Before deciding the coverage, make sure you evaluate the medical expenses in your city. Since medical costs are lower in tier 2 cities, the premiums are also comparatively lower than in tier 1 cities.

Finally, as Rakesh Jain emphasises, research all products before purchase and declare your pre-existing health conditions at the time of purchase to have a hassle-free experience.