Health Insurance for parents with pre-existing diseases

WHAT TO LOOK FOR WHEN BUYING HEALTH INSURANCE FOR YOUR

PARENTS?

Importance of buying health insurance early

Read more on how to buy your parents their health insurance policyhttps://www.coverfox.com/articles/health-insurance/health-insurance-for-parents/

https://www.coverfox.com/articles/health-insurance/health-insurance-for-parents/



o Increase in terms, conditions and exclusions as age increases

o Rising costs of health care, by the day

o Increasing challenges of buying family/parents' health cover





Restrictions in buying health insurance for parents





o Insurance is tricky for people over the entry age of 50

o When people are over 50 and with pre-existing disease (PeD)

o Even if covered, PeD is covered after long waiting periods at the cost of high premiums





What is a Pre-existing disease?





o PeD is any disease or even a symptom that the applicant is aware of while buying a policy

o This includes:o All existing conditions and symptoms that the applicant is

suffering fromo All reasons for hospitalisations till date

o Ailments (like typhoid, malaria, jaundice) which are cured without the need for hospitalisations are NOT considered as PeD





Step-by-step process in buying your parents health insurance





STEP ONESTEP TWO

STEP THREE

Fill out proposal forms

and declare any existing pre-existing

ailmentIn case of a PeD, there would be

tele-under writing - a call

from the doctors' panel asking for

more information

If the insurers find a reason,

they may conduct a medical

check-up of the applicant

What happens after the evaluations?





The insurers accept the applicant's case 'as is'OR

They accept the case on additional loading of premiumOR

They decline the case





On what basis does the proposal get accepted?





o History of absence/temporary infectious/minor ailments - Instant coverage

o Single chronic but manageable ailments - Policy issued under additional loading

o Multiple chronic but manageable ailments - Policy may/may not get declined

o Chronic/serious/critical ailments - Policy is denied





What is an under-control ailment?





o When an applicant is taking multiple medications to control a condition

o When the medical check-up suggests undesirable results





TOP 5 plans for your parents in the market

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HEALTH INSURANC

E

How likely is a chance of rejection?





10% are for parents over 50. And for every 100 cases, only 35 get

rejected! Which means a 65% success rate, even if it meant additional loading on the premium! That's 1 in 5 people!





Visit www.coverfox.com to buy health insurance for your parents

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Health Insurance for parents with pre-existing diseases