Health insurance<\/strong><\/a> coverage for pre-existing conditions is available, although in some situations, it may result in a premium rise or denial. However, you shouldn’t let that discourage you from trying to purchase one in order to cover any potential future medical emergencies.<\/p>\nLet’s start by defining a pre-existing sickness. A pre-existing disease is one that you had symptoms of, a diagnosis for, or treatment for within 48 months of the day you applied for medical insurance. This includes any major medical condition, illness, or accident. A pre-existing medical condition can greatly affect the cost of your health insurance premium.<\/p>\n
You and your family should not be prevented from safeguarding your financial future by a pre-existing condition. There are three ways your coverage and prices will change if you frankly report a pre-existing ailment when applying for insurance. You\u2019ll find everything you need to know about pre-existing disease health insurance <\/strong>in the article.<\/p>\n\n- Waiting period <\/u><\/li>\n<\/ul>\n
After a waiting period, the insurance provider can agree to pay the standard premium for your pre-existing condition coverage. This waiting period, which varies depending on the provider and the type of condition, is often between two and four years. The insurance provider will not pay for any hospital stays or medical expenses connected to your pre-existing condition that you incur during this waiting period. Your pre-existing condition won’t be covered by the insurance policy until the waiting period has passed.<\/p>\n
\n- Premium loading <\/u><\/li>\n<\/ul>\n
A situation could arise where you receive immediate coverage for a pre-existing condition in exchange for paying a higher premium. To cover the risks associated with insuring a person who is already hampered by a medical condition, this sum is added to the premium. Premium loading is frequently used for conditions including diabetes and heart disease. You are secure even with a larger premium because the insurance will pay for all costs in the event of a protracted hospital stay or further deterioration of the condition. It’s also crucial to remember that an insurance provider can only increase your rate based on a pre-existing condition at the time the policy is purchased. No insurance firm may charge a customer for an illness that develops after the policy is issued and is renewed without a gap, according to a mandate from the Insurance Regulatory and Development Authority (IRDAI). #<\/p>\n