We are aware that disability insurance is intended to offer protection if you get ill or injured and are unable to work. But what if you seek for disability insurance coverage while already ill or hurt? Still eligible to apply? And will it pay out if you need to submit a claim for disability?
Any medical problem that you previously had a diagnosis for before enrolling for insurance is referred to as a pre-existing condition. Diabetes, cancer, depression, asthma, HIV, and epilepsy are a few examples of prevalent pre-existing diseases.
Here are four key points to remember when applying for disability insurance if you have a pre-existing ailment.
It’s possible that you can still receive coverage.
Yes, there are often pre-existing condition exclusions in long-term disability insurance coverage. The good news is that having a pre-existing ailment often won’t prevent you from being eligible for disability insurance. As long as your disability insurance claim is unrelated to your pre-existing condition, you should be eligible to get insurance benefits when you make a claim.
If a person has cancer and it has been in remission for a number of years, some insurers could even authorize coverage for that person. As long as their illness is being treated, those with additional disorders including diabetes, sleep apnea, lupus, and ulcerative colitis may usually get accepted for a coverage, but they might have to pay a slightly higher premium.
You might not qualify if you have certain significant or chronic diseases.
Remember that you might not be eligible for disability compensation if you have significant or persistent medical issues. If you have disability insurance, your claim will probably be rejected if you file it for a sickness or injury connected to a pre-existing condition.
You might need to offer further proof.
Your disability insurance provider may launch an inquiry if your claim is rejected. In order to determine whether your claim is due to a pre-existing condition or not, medical documents from before the start of your coverage may be helpful. For instance, you can demonstrate this with the use of medical documents if your back has previously been injured and you now damage it in a new or different method. Ask for clarification if you have questions about a rejection from the insurance company because they are obligated to give a detailed explanation whenever they reject a claim.
For instance, your disability insurance policy is unlikely to approve a claim for lost income if you have epilepsy when you apply for coverage then a few months later your seizures develop worse and prevent you from working because of it. This is because you already had the ailment prior to acquiring coverage.
Obtaining a doctor’s letter that details the precise reason of your impairment might be helpful when appealing the denial of your claim. This can assist the insurance provider in determining whether or not your pre-existing condition is involved.
Never fail to mention a pre-existing ailment when requesting insurance. If you don’t and your insurance provider later finds out about your illness, they’ll probably reject your claim. Be truthful about your condition because most insurance contracts call for disclosure.
Look into disability insurance provided by your company.
You can obtain coverage by signing up for a group plan offered by your company. Due to the automatic coverage and the fact that it is a part of your entire benefits package, it is frequently less expensive than buying an individual insurance. You can still be approved if you have a pre-existing ailment because there is no underwriting or medical examination.
Although employer-sponsored insurance has several benefits, bear in mind that:
- Compared to individual insurance, there are greater restrictions and fewer coverage alternatives.
- Still, not all ailments are covered.
- If you quit your employment or have it terminated, you no longer have coverage.
- By getting in touch with an insurance professional, you may find out more about disability insurance protection. Working with an independent disability insurance agent, who can contact a variety of carriers to discover one that will more likely accept your condition, is a smart approach to get a policy that is suitable for your circumstances.
- Compared to individual insurance, there are greater restrictions and fewer coverage alternatives.
- Still, not all ailments are covered.
- If you quit your employment or have it terminated, you no longer have coverage.
By getting in touch with an insurance professional, you may find out more about disability insurance protection. Working with an independent disability insurance agent, who can contact a variety of carriers to discover one that will more likely accept your condition, is a smart approach to get a policy that is suitable for your circumstances.
