Around 133 million young adults suffer from pre-existing health conditions
Pre-existing disease insurance does offer coverage for chronic health issues
The waiting period for pre-existing disease health policy is within 2-4 years
According to reports, approximately 133 million adults suffer from pre-existing conditions. High blood pressure is one such example of a pre-existing disease, and it occurs in more than 33 million adults under 65 years of age.  Such conditions can lead to costly health problems, and these can be easily managed with the right health plan. While many consumers think that having a pre-existing condition limits access to insurance coverage, this is far from the truth. Insurers are more than willing to offer aid but are likely to charge a higher premium for it.
The good news is that IRDAI  has eased the norms of pre-existing diseases health insurance policies. As a result, getting long-term health insurance for your pre-existing diseases is a lot easier and has better provisions. These policies also cover critical illnesses, addressing another doubt many consumers have about pre-existing disease insurance.
Read on for more insight on this subject and learn about the factors to consider when buying a pre-existing disease health policy.
Insurance is something you should be able to rely on for years on end. This is why you should look for policies that offer the lifetime renewability benefit even when you have a pre-existing condition. Remember, as you get older, your chances of falling sick are much higher. With age, complications such as heart disease, diabetes, hypertension, and more are far more common. To combat these, a health plan with lifetime renewability is ideal as it offers financial coverage and security against treatment expenses.
Unlike regular policies, a pre-existing diseases health insurance plan will have a waiting period. This can range between 2 and 4 years based on the insurer. During this period, if you develop a sickness due to a pre-existing condition, you will not be able to claim coverage for its treatment. For this reason, be sure to compare policies carefully. Buy one only after you are completely aware and are fine with such terms and conditions.
When choosing a pre-existing disease health policy, do not forget to check the claim settlement ratio. Many insurers offer attractive deals but have a poor ratio, which means that policyholders don’t actually get coverage when they need it. The insurer you pick should have a good reputation and a high claim settlement ratio. While these may be slightly costlier than others, it is a worthwhile investment as you don’t have to worry about having your claims rejected.
The pre-existing disease health insurance plan may not always offer the overarching coverage you need. However, you can always opt for floater plans. These extend coverage to family members, ensuring financial aid in times of need. Before you buy, do check your family’s pre-existing diseases and opt for a family floater plan that will offer coverage for the same.
Typically, diseases like thyroid, high blood pressure, diabetes, asthma are all covered in a pre-existing disease health policy. However, some insurers might deny offering insurance for certain chronic  or congenital diseases . Do your research and choose a pre-existing disease insurance health plan that covers treatment for health conditions specific to you. Coverage should extend to both pre-hospitalization and post-hospitalization expenses as well. Also, search for a policy that provides free medical check-ups.
Additional Read: High Blood Pressure Vs Low Blood Pressure
Select the amount wisely as per your needs and affordability. Try for a high-value sum assured with an affordable premium amount. Consider factors like your age, income level, and inflation while making the decision. It is also important to account for the rising cost of treatments when choosing the sum assured.
During your younger years, a lower assured sum may be acceptable. Analyze your savings and income to reach an affordable premium. Add-ons can also impact your total payable premium, so choose these wisely.
Always buy a long-term health insurance plan from an insurer that has many network hospitals. These often come with a cashless facility, where they pay the medical bill amount directly. Besides this, these policies may have other benefits that make the claims process simpler and easier.
Additional Read: 7 Important Health Insurance
A pre-existing diseases health insurance policy protects you and your family against any unforeseen medical expenses. Remember, the premium you pay is likely to be lower than the cost of treatment, which is why buying this type of insurance is necessary. Further, with a pre-existing condition, you must take all the necessary steps to protect your wellbeing. This is why it is important to have a health plan that can help you get the care you need without compromise. To find affordable health policies for you and your family, visit Bajaj Finserv Health and see the Aarogya Care plans today.