Pre-existing conditions are ones that already exist, and when we talk about pre-existing diseases, we mean conditions where a person already has a disease such as asthma, hypertension, heart disease, diabetes, thyroid disease, cancer, or pregnancy before actually buying an insurance policy. According to the Insurance Regulatory and Development Authority of India (IRDAI), a pre-existing condition is taken into account when an illness or injury is discovered 48 months before enrolling in the policy.
According to the Affordable Care Act (ACA), once you sign up for a health insurance or life insurance policy, no insurance company is allowed to refuse to provide coverage or charge a higher premium due to a pre-existing condition.
Pre-existing illness possibilities
Asthma, hypertension, heart disease, thyroid, acne, anxiety, sleep apnea, and many other conditions. In addition, some diseases, such as diabetes, cancer, depression, epilepsy, and lupus, are chronic, indicating they last for a long period or continue to recur. Pregnancy is also considered a pre-existing condition if it persists previous to the purchase of the policy.
Although there isn’t a specific plan for pre-existing conditions, a policy with a high monthly premium and low deductible may provide the coverage you desire. Purchase is advised if the condition necessarily requires routine medical examinations, treatment, or surgery.
Waiting period for pre-existing disease
The waiting period is essentially the amount of time that the insured must wait before receiving coverage benefits for a specified disease during the term of the policy. A month or a maximum of 90 days serves as the initial waiting period. According to IRDAI, the waiting period for a particular disease can last up to 4 years, but the waiting period for common diseases like diabetes, thyroid disease, hypertension, heart disease, etc. cannot be longer than 30 days. Additionally, the type of waiting period you are subject to varies from insurer to insurer.