The Hidden Risk: Pre-Existing Condition Disclosures
25% of claims are denied due to non-disclosure of pre-existing conditions.
The Problem: Undisclosed Health History
One major reason claims are dismissed by insurers is simple: people conceal or forget about prior health conditions when ultimately purchasing a policy. This may be by design (e.g., "If I notify them, my premium will go up") or struggle (e.g., "I had a sore back years ago, and it does not matter").
Nonetheless, insurance companies will take a different perspective. When you make a claim, they will go back in the medical history. If they then see something in your previously undocumented health condition and it does not seem relevant, they may deny that claim with little explanation.
The Unfortunate Reality
More often than not this occurs when a family is already reeling from the shock of dealing with a bad situation financially and/or emotionally.
Many policyholders are also oblivious to the fact that they may be doing something in violation of their insurance agreement. The policyholder may not think that they did anything wrong however the fine print gives the insurer the opportunity to deny claim if they are not legally required to accept the claim based on a misunderstanding noted in the "hold harmless little print" section of the policy.
The disclosures themselves are often far from obvious.
The Solution: Complete and Accurate Disclosure
Disclosing a health problem is not the solution either; disclosing it or anything else as accurately as possible is the appropriate approach. This means obtaining a reasonable idea of how your insurance company will address a pre-existing condition.
Bima Analyze can signpost the waiting periods and experience conditions applicable to any and all health problems. You will garner an advanced fair and reasonable portrayal of how your health condition will be addressed before claim stage.
In complete honesty today or tomorrow, you will know exactly how your health condition is covered, preventing claim denial and ensuring financial protection when you need it most.
