Health insurance policy applications may get rejected for various reasons. While there could be reasons like not disclosing proper information, a health insurance policy can get dismissed if the insured has any pre-existing disease.
Your health insurance policy application may get rejected if you have a pre-existing condition. Here is what you should do.
Health insurance policy applications may get rejected for various reasons. While there could be reasons like not disclosing proper information, a health insurance policy can get dismissed if the insured has any pre-existing disease.
“Eight to 10 per cent of people are not able to get a policy due to grave pre-existing conditions such as very recent cardiac surgery, paralysis, or an extremely high BMI (body mass index), above 40,” says Siddharth Singhal, business head of health insurance, Policybazaar.com. For the age below 45, this figure is 15 per cent.
“This happens because younger people are increasingly at risk of contracting chronic diseases due to their sedentary lifestyles. We are seeing people in their 30s and 40s get heart attacks,” he adds.
If the insurer believes that the cost of covering an individual will be too high, they may reject a policy application. "Each insurance company has its own underwriting guidelines and risk assessment criteria that influence these decisions," says Shashank Chaphekar, Chief Distribution Officer, ManipalCigna Health Insurance.
“An applicant should always research thoroughly to explore multiple insurers and policies to find one that might be more accommodating based on their health profile. To buy the most suitable plan, you need to remember a few dos and don'ts before zeroing down on the right health insurance policy,” says Chaphekar.
Firstly, it's important to understand your medical needs and diligently fill out the application form with all the required details while submitting the necessary documents. Additionally, it's essential to disclose any pre-existing medical information to ensure accurate coverage transparently. On the flip side, it's advised not to hide any aspect of your medical history, as this can affect your coverage. Similarly, purchasing a policy without thoroughly reading and comprehending the terms, conditions, inclusions, and exclusions is discouraged. Lastly, never hesitate to clarify any doubts or queries regarding the policy before finalizing your decision.
It is advised that, first and foremost, a person should buy a health insurance policy as soon as possible. “When you are fit and healthy, you have the widest range of plan options to choose from. However, if someone already has cancer, heart conditions, or diabetes, they can look at condition-specific health insurance plans,” says Singhal. These could come for a higher premium but will provide one with the necessary coverage.