Pre-existing Disease Cover from Day One
A pre-existing condition is an illness or condition you have before buying health insurance plan. Pre-existing conditions can make it hard to get health coverage. That's because most health insurance plans don't cover pre-existing conditions until the waiting period of up to four years is not completed. This is where health insurance policies with coverage for pre-existing diseases from Day 1 come to many’s rescue. This means that you will be covered for any treatment that you may need for your condition from the day you take out the policy. This can give you peace of mind knowing that you will be covered if you need to receive treatment for your condition.
What Is Pre-existing Disease Health Insurance?
Pre-existing disease health insurance is a type of insurance that helps cover the costs of medical care for people diagnosed with a pre-existing medical condition. This type of insurance, which can be purchased through the marketplace, helps cover the costs of treatment, medication, and other medical expenses. While some plans will cover pre-existing conditions from day one, others may exclude them or have a waiting period before coverage kicks in. It's important to read the fine print of your insurance policy to know what is and isn't covered. If you have a pre-existing condition, you may want to look for a plan that specifically covers that condition.
Health Insurance Covers That Include Pre-existing Disease from Day One
- Aditya Birla Activ Health Platinum Enhanced Plan is a health insurance policy that offers comprehensive coverage for you and your family from Day 1 against chronic illnesses such as diabetes, high cholesterol, asthma, blood pressure, etc. The policy covers hospitalisation expenses, outpatient treatment, daycare procedures, organ donor expenses, and home care. It also provides for the pre-and post-hospitalisation expenses and covers maternity and newborn baby expenses. The policy has a lifelong renewal option and offers a no-claim bonus. The sum insured under this policy starts from INR 2 lakhs and goes up to INR 2 crores.
- Star Diabetes Safe Insurance Plan is a new insurance program designed to help people with diabetes manage their condition and stay healthy. The program offers coverage for diabetes education, supplies, and treatments, as well as access to a team of diabetes care experts. You will get covered for hospitalisation expenses arising due to complications induced by both type 1 and type 2 diabetes, and complications other than that of diabetes. The plan comes in two variants - Plan A and Plan B. While Plan A covers diabetes and its complications from Day 1, Plan B covers the same after 12 months of the policy issuance date. The sum insured ranges from INR 3-10 lakh.
Benefits of Having Pre-existing Disease Covered In Health Insurance
There are many benefits to having pre-existing disease coverage in your health insurance policy. Check these three main ones out:
- You will be covered for the cost of treatment for any pre-existing conditions that you may have without having to worry about any limitations.
- You can gain access to educational material and a health coach under several plans.
- Ailments like high blood pressure, depression, diabetes, asthma, and thyroid can now get unbiased coverage under insurance.
Health Insurance Underwriting Norms
Health insurance underwriting norms have been placed for coverage of pre-existing conditions, as per a new directive issued by the regulator. The coverage for the same will kick in most likely up to four years from the policy inception date. But the policies mentioned above will cover you from Day 1, which makes it stand apart from the rest. However, diseases that are outright exclusions will anyway not be covered even if you had it before policy purchase. For instance, HIV/AIDs is not covered under most health insurance plans. The premium will increase for someone with pre-existing conditions. However, the plans mentioned above would let you get the services of a fitness coach. Following the coach’s advice, you can get your health better and earn discounts on your health insurance premiums on renewal. Read the policy’s fine print carefully not only to choose the right policy but also to maximise after purchase.
Why PED Coverage from Day One?
PED coverage from day one ensures better insurance penetration and quality coverage for policyholders. Usually, PEDs are covered after a waiting period of up to four years, which can be daunting. So, knowing policies with coverage from Day 1 only helps you seek quick and quality medical treatment. The premiums of such policies may be higher than the others. But the quick protection you get outweighs the extra you pay.
Conclusion
Pre-existing health insurance is a type of insurance that helps cover the costs of medical care for those who have pre-existing medical conditions. This type of insurance can be purchased through the marketplace, as well as through private insurers. While pre-existing health insurance can be a great way to get the coverage you need, it's important to remember that it may not cover all your medical expenses. In addition, you may have to pay higher premiums if you have a pre-existing condition.
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A pre-existing disease means it was already present before you purchased the health insurance plan.
Insurance companies charge different rates depending on the type of pre-existing condition you have. Generally, the higher the severity of the condition, the more likely you are to pay more. In addition, the longer you have had the condition, the more expensive the treatment or procedure will be.
Health insurance covers services like doctor visits, prescription drugs, lab tests, emergency room visits and hospital stays.
You get reimbursed for what’s offered under your policy. Every policy has exclusions; you need to comply and claim for what’s covered.
If you take part in a dental work program offered by your company, your health insurance likely does cover dental procedures. However, many individual policies do not. Check with your insurer before making any major dental work purchases.