Did you know about Pre Existing Diseases in Health Insurance?
Dr. Ashok Chandran Kuzhipatt, CFP?, QPFP?
CERTIFIED FINANCIAL PLANNER?| Qualified Personal Finance Professional? | Mutual Fund Distributor | Insurance Advisor | Financial Literacy Speaker. Partners-LIC, NJ Wealth, Motilal Oswal, Star Health, NIA, 1 Finance (QFA)
The principle of utmost good faith is the foundation of an Insurance policy; it states that the insurer and insured both must be transparent and disclose all the essential information and material facts before subscribing to the policy.
Your Health Insurance is invalid ab initio and no claim is payable, if you fail to declare your Pre existing diseases(PED) at the time of taking the fresh policy or at the time of porting. Details of all surgeries, hospitalisations, year & duration of the disease/treatment, and current medications should be furnished, at the time of fresh purchase or porting a policy.
Understand the exclusions and waiting periods in your policy,?applicable for different diseases, while Insuring yourself.
Read your policy wordings completely to know exactly what you are covered for.
Stay Inspired, Informed and Insured.
Dr. Ashok Chandran
Health Insurance Expert
IRDA Certified.