Insurance TermsInsurance TipsOur Disclaimer 
When it comes to health insurance, the train of thought that most providers have is unsurprisingly and shamelessly obvious. Because the organisation will have to pay for any medical treatment you may require, they are going to be reluctant to take you on if you have any kind of pre-existing medical condition. The thought behind this is simple. If you have a pre-existing condition you are more likely to have an increased need for healthcare, meaning your insurance company is going to have to shed more cash. Like most companies, insurers work to make a profit margin and if they don’t think you’re going to be profitable to the company, then they’re not going to love the idea of giving you a policy.
Any medical condition you’ve consulted a doctor about or had treatment for is considered a pre-existing condition. Examples of pre-existing medical conditions can range from diabetes to lung disease and cancer to a weak heart. Some policies have a waiting period for those with pre-existing conditions before they will cover your healthcare requirements: generally 12 months after you have joined the policy.
It’s a good idea to remember that there are some exclusions from the rule of what constitutes a pre-existing condition. For example, an asthmatic who hasn’t had an attack for several years before the start of their policy is in the clear. Generally, an insurance company will obtain information about your health from a medical exam to assess what risk they are at by covering you.
If you have a pre-existing condition, you may be tempted to tell lies or neglect to inform your insurance provider about it in order to pay cheaper premiums. You should not do this, as it is always better to play fairly in this game. If you misinform your insurer, your claim will be refused when you need support most. If you find you require urgent medical treatment for a condition that you did not disclose to your insurer, then hefty medical bills will be left for you to pay on your own. In a worse case scenario, this could cause bankruptcy. Be smart and tell your insurance company the whole truth.
However, there are things you can do to avoid paying sky-high premiums. As always you should shop around and do your research from insurer to insurer to find the best deal. Just remember to make sure that a cheaper policy provides you with adequate cover for your condition or you could end up in a nightmare scenario where you are faced with huge costs. You should also find a good insurance broker, who will help you, the consumer, get the best price from insurance companies.
It’s also worth checking out local organisations whose members have identical or similar medical conditions, as special insurance schemes may be offered to them.
If you are unfortunate enough to have a pre-existing medical condition, then insurance can be a real problem. However, if you think carefully, get good support from a decent insurance broker and be truthful to your provider then you should be able to get an affordable policy that accommodates your individual needs and requirements.