Indian Mediclaim insurance with pre-existing coverage

Buying health insurance is important:
Though some mediclaim policies do not cover pre-existing conditions there are other ailments covered. Buying health insurance is a necessity if you want to avoid financial loss during any medical emergency situation. If the ailment of the insurance seeker is not chronic in nature then it should not be a problem to buy health insurance policy or any cause of concern.

Pre existing condition coverage:
How does one determine the pre-existing condition while buying health insurance policy? The illness or injury that insurance customer has contracted more than 48 months ago has to be declared while buying the policy. Once the declaration is made the insurance company will decide on providing the cover and the extent of coverage that can be offered and the premium cost. This decision will be at the insurance company’s discretion and could also reject giving insurance coverage on certain grounds as per the terms and conditions.

Example for rejecting giving coverage:
Insurance companies have their own terms and conditions and provisions to cover or discard giving coverage for those who have pre-existing conditions. One example is in case a person is suffering from kidney failure this condition can be unlikely to get health cover. For those who have diabetes and hypertension, the insurer may take a call depending on the basis and degree of severity or type of illness.

Retired people and pre-existing coverage:
When a person is working for an employer and covered under group mediclaim insurance with pre exisiting it can be tempting for a them to avoid buying individual health insurance coverage. It may not be a wise choice because when they retire they cannot depend on the group insurance. There is a need for individual health insurance cover. There will be some waiting period and once that comes to an end there will be continuous coverage for the insured post retirement.