Wednesday, December 6, 2023


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Individual health insurance policies are becoming more well-known in India nowadays. If they have a pre-existing medical condition, many first-time customers, especially older people, find it challenging to choose which policy to purchase.

Pre-existing conditions are generally defined as “any condition, illness, injury, or related conditions which existed or the patient had received treatment within 48 days before purchasing the health insurance policy from the company” by most Indian health insurance carriers. When purchasing a health insurance policy, senior individuals with pre-existing diseases shouldn’t be deterred because insurance firms provide policies made explicitly for them.

Purchasing health insurance is essential:

Pre-existing conditions are rarely covered by medical insurance coverage, but other illnesses are. If you want to prevent financial loss during any medical emergency condition, getting health insurance is essential.

If the condition of the insurance applicant is not chronic, this should not be a barrier to purchasing health insurance or a source of worry.

Pre-existing condition coverage:

How can you tell if a pre-existing ailment is present while purchasing health insurance? When obtaining the coverage, the policy customer must disclose any illness or injury that they sustained more than 48 months ago.

Following the filing of the declaration, the insurance company will determine whether to offer coverage, how much coverage can be provided, and how much the premium will be.

The insurance company will make this decision and may, in accordance with the terms and conditions, refuse to provide insurance coverage on particular reasons.

Senior citizens and pre-existing coverage:

Since many businesses offer group mediclaim insurance plans, people with pre-existing conditions may be tempted to forgo purchasing individual health insurance. They cannot rely on the group insurance coverage after they retire,

therefore this may not be the best option. Here comes the requirement for individual health insurance protection. There will be a little waiting time at first, and then the insured will continue to be covered after retirement.

Example for rejecting coverage:

The terms and conditions are the same for all insurance carriers. They decide whether to provide coverage for persons with pre-existing conditions according to their criteria. For instance, if a person has kidney failure,

it is unlikely that they will be covered by health insurance. Depending on the grounds, severity, and kind of ailment, insurers may make a decision for those who have diabetes or hypertension.

Compare waiting period under mediclaim:

After a set waiting period, pre-existing conditions are covered under individual medical insurance policies issued by Indian insurers.

While comparing the policies, it is vital to comprehend the waiting period of the insurers before making a choice. The waiting period may vary depending on the policy; some maybe 2 years long, while others may be 4 years long.

Why should you avoid switching insurers?

When renewing their insurance, a policyholder should give some thought to whether they have any pre-existing conditions. As previously mentioned, the waiting time can range from two to four years,

and if you move insurers, the waiting period will begin all over again with the new insurer.

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