Finding a suitable insurance policy with a pre-existing medical condition can be difficult. Any insurance company that offers health or medical benefits (i.e. life, travel or health policies) may view previous illnesses or conditions as additional risks.
Some will not offer insurance at all; others may limit their coverage. In some cases policies will protect any/all pre-existing health conditions but may charge higher premiums or add-on costs to get suitable protection. Which conditions might be included in policies that deal with pre-existing problems/excluded by those that don’t and how can consumers keep costs low?
Common Types of Pre-existing Medical Conditions
It’s worth noting from the start that there is not a set list of illnesses that will be accepted or excluded by every insurance company. Each company may have conditions that they will accept and conditions that they won’t. Common examples that may cause problems include.
- Addictions (i.e. alcoholism, drug addiction)
- Arthritis
- Back problems
- Cancer
- Crohn’s Disease
- Cystic Fibrosis
- Diabetes
- Epilepsy
- Heart disease
- Hepatitis
- High blood pressure and/or high cholesterol
- HIV/AIDS
- Liver and kidney diseases
- Mental health conditions (including severe depression)
- Multiple Sclerosis
- Muscular Dystrophy
- Ongoing tests/investigative procedures
- Parkinson’s Disease
- Respiratory conditions (i.e. asthma and disorders of the lungs)
- Stroke
Long as this list may seem, it is not exhaustive. Often individuals will apply for an insurance policy only to find out that a previous condition will be excluded. This may not have been life-threatening and may never re-occur but it may still pose a risk to the insurance company.
Other Factors That May Influence Insurance Policies and Pre-existing Health Conditions
To complicate matters, insurance companies may also use different exclusions and terms as part of the acceptance process. So, for example, policies may:
- Set different time conditions: One company may allow a pre-existing condition to be included if the individual has had no treatments/problems in the last year. Another may ask for a two year time-frame. This may also be judged on the severity of the condition and the likelihood of re-occurrence.
- Bar acceptance for multiple conditions: In some cases insurance companies will give coverage for one pre-existing medical condition but may not insure individuals with two or more.
- Set time limits on coverage: Some policies may be given to an individual with a pre-existing medical condition but may exclude it for a period of time. So, for example, the policy may have to be held for a number of years before the condition will qualify for inclusion.
- Set payout limits on coverage: Some policies may accept a known condition but may give lower coverage limits.
The only way to get a clear idea of whether a policy will cover a condition/illness is to read its terms and conditions and exclusions. It may also be worth talking to the insurance company to double-check if there is any doubt.
Not Disclosing a Pre-existing Medical Insurance Could Invalidate a Policy
It may seem easier to simply not mention a pre-existing condition to an insurance company. This really isn’t a good idea. Failing to disclose medical details could invalidate the whole policy. So, if a claim needs to be made and the company discovers that there is a previous history of problems/treatment, then they may be within their rights to turn the claim down.
Choosing the Best Low Cost Life, Health or Travel Insurance With a Pre-existing Medical Condition
The primary aim is usually to get adequate cover at the lowest possible cost. This may involve comparing suitable policies against each other via online insurance tables to try and find low cost options. If a condition proves hard to insure with a regular policy then guaranteed/no exam options may be worth investigating. Some specialist policies, such as senior insurance, may also be good options for those that qualify.
Carol Finch - Carol Finch is the Topic Editor for Retirement Planning, Budgeting, E-Commerce & Technical/Business Writing on Suite101.
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