When buying life insurance or travel insurance, companies want to know everything about you regarding your health. It can become tricky when it comes to declaring your pre-existing medical conditions as prices may change or some companies may even refuse to provide you with insurance. This can bring you to a point where you feel that you want to hold some information back to ensure prices do not change.
Here are reasons why you should not hold any information back:
Whether it is cancer or diabetes, insurance companies want you to paint a picture about your health conditions. Insurance is usually there to cover you for unexpected emergencies. When it comes to pre-existing medical conditions, insurers sometimes exclude treatment linked to it. If the condition was not stated when the policy was purchased, there is a great chance that your treatment will not be covered and could make your whole policy void.
If you have any pre-existing medical conditions, the price may vary for your life, travel or health insurance. This is usually linked to the severity of your previous illness. Insurers want to know all about your illness, whether it be how long you have had it, to what kind of medication you are taking for it. In some cases you may need to take some tests for the insurer to even offer you a policy.
Once tests have been taken into account, you may be offered a policy with exclusions, which ultimately means that if you was to die from anything linked to your illness, you will most likely not get payed out. On the other hand if you are offered a policy without exclusions then you will get paid if you were to die from previous or new illnesses. This type of policy usually comes at a price as you are seen as someone who is a high risk and are likely to make a claim, which means you premiums will be higher than average.
Here are some of the common pre-existing medical conditions that are usually covered:
• High Cholesterol
• Heart Condition
• High Blood Pressure
When it comes to filling up these complex medical questionnaires, not many people know what they need to declare and what they don’t. It’s important for you to get a full picture of what your health is like before doing anything, not only for insurance purposes but also for your own knowledge and well-being. Keeping on top of your health will not only benefit you but your family and friends.
This is why it is a good idea to get a check up before purchasing any sort of life, travel or heath insurance.\