How may a pre-existing medical condition affect your health insurance cover? Short answer, “it depends” - on the condition, on the policy, and on the insurer. But here’s the good news: pre-existing conditions aren’t always ‘uncoverable’.
So, we asked our friendly insurance adviser Caleb Hill to give us a lowdown on all this. Read on to learn more.
Covered or excluded? It’s not ‘black and white’
“Unfortunately, there are some misconceptions about pre-existing conditions and how they can affect insurance cover. So, when we assist clients with their applications, we always explain what conditions the underwriter may or may not cover” says Caleb.
“Sometimes, experiencing a certain health issue is a trigger for getting health insurance - but that also means it may be too late to get that same issue covered. That’s because health insurance is designed to protect against risks that aren’t yet known, not those you’re already facing.
“But it’s not ‘black and white’: the coverage or exclusion of pre-existing conditions varies from insurer to insurer and also the severity of your condition. So, if you’re taking out health insurance on your own, doing a bit of research is crucial. Or you can call us, and we’ll talk you through the detail of what’s available.”
Cover may be possible after a stand-down period
“Being a comparison site, LifeDirect works with different insurers that offer a broad range of options. For example, some allow having many types of pre-existing conditions to be covered after a certain period of time - including a number of chronic conditions,” says Caleb.
“With others, you can get some exclusions reviewed a few years down the line, especially if the conditions are relatively minor or well in the past.
“So, it’s a conversation worth having with us, as we know the varying degrees of risk that insurers take on most of the time, and we can help you make an informed decision.”
Disclosing everything is key
“Generally speaking, the healthier you are when you take out cover, the fewer pre-existing conditions you have, and that gives you more options when it comes to health insurance,” says Caleb.
“In any case, when applying for cover, you must always disclose any past and current health issues you may have. If you don’t, there’s a very high chance of a claim being rejected down the track, on the grounds of non-disclosure. And you may even become uninsurable.
If you do disclose, on the other hand, depending on your condition it might be excluded now, but the insurer may be open to review it in the not-so-distant future.”
We advocate for you from quotes to claim time - free of charge
“Many people are happy to take out insurance on their own, and our quote compare tool is designed to make that as straightforward as possible. But if you need us, we’re also in your corner all the way,” says Caleb.
“Let’s take claim time, for example. Filing a claim can be a daunting process to go through without anyone helping you, so having someone who is trained in the industry and there to fight for you and with you makes a difference. Also, we try and review our clients’ policies every 12 months or so, to ensure that everything is working to plan.
“And of course, knowing insurance solutions inside and out, we can tell you what conditions are worth reviewing and liaise with the insurer for a speedy resolution. And we do it free of charge as well, which is a big plus!”
Looking for cover?
Exploring your life insurance options for the first time? Our quote compare tool is a great place to start. And if you have any questions, get in touch with the friendly advisers at LifeDirect: you can call us on 0800 800 400?or?message us here.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.