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Life is unpredictable. We need to be prepared for unforeseen circumstances. Leading a happy life, involves good planning and analysis for your personal health. Accidents do happen and you need to be prepared for such situations. In times of high medical cost, you need to get medical insurance for health risks. To overcome uncertainties in human life and lead a life free from stress, insurance plays an important role. A good medical insurance policy should cover doctor’s visits, lab tests, hospital stays and diagnostic tests. There are quite a few insurance companies covering health risks with good insurance policies. Medical Insurance in India is included under the category of General or Non-Life Insurance. Pre-existing condition relates to a medical issue which was present prior to a person obtaining a medical insurance policy. There are often negative connotations associated with this term as it is something that prevents you from obtaining a medical insurance coverage or which will make you pay a higher premium when you obtain cover. Many who want coverage and have a pre-existing condition will feel happy to know that there are insurers who will provide them with the same, subject to restrictions. People are worried about getting a medical insurance plan for pre-existing conditions. They are under the impression that if they are suffering from a pre-existing condition like diabetes or heart disease, then the insurance company will not cover them. But this is not true. We have heard of incidents where people are denied a medical insurance policy or their cover is so limited that the benefits under their plan are simply not worth the price. It is as if one has to look through exclusion after another to find that elusive benefit. The secret to getting health insurance for pre-existing medical conditions lies in doing a thorough research. Today there are a large number of medical insurance companies to choose from and there is a big difference in attitudes as to what they will and will not cover. There are many medical insurance companies who are ready to take the risk of covering you but they will impose conditions. For example, they may cover your condition but will require you to pay an additional premium. Alternatively, they may say that your pre-existing condition will be covered after a waiting period provided you have not required treatment for that condition during this period. These are just two examples of medical insurance companies providing cover as long as certain conditions are met. Group medical insurance plan is another approach that you can consider. In many cases, group policies provided by the employer, will accept employees regardless of pre-existing medical conditions. Many times we think that group policies are available only through employment, but there are many cases where you may be eligible to join a group medical insurance plan. __________________________________________________________________________________________________________
Pranav Sharma is an insurance agent based in Mumbai; Pranav assists individuals and corporates in purchasing the right Medical Insurance & often shares his insights about the general insurance industry on internet.
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