The definition

Most policies provide that any disease that was present at any time in the past (including any disease, which the insured person may not have been aware of) is treated as pre-existing. But some have a narrower definition which may extend to only diseases for which the insured person had sought consultation for or was treated for or s/he was aware of during say the last four years. Narrower the definition, the better it is for consumers.

The cooling off period

This is the stipulated period earmarked by the company, which denotes that after how many years of continuous coverage the pre-existing disease will get covered. This is important as after the expiry of the cooling off period even pre-existing diseases get covered. A fine point is to find out if the company you are considering allows your track record of continuous coverage from another insurance company for the purpose of calculating this cooling off period or insists only on continuous coverage with itself for this purpose.

Special dispensation for diabetes/hypertension

Diabetes and hypertension, have acquired epidemic status in India. A host of illnesses/diseases such as heart disease, kidney failure, paralysis, stroke, eye problems can trace their root cause to either diabetes or hypertension or both. Since the definition of pre-existing illness includes any complications arising there from, this has been a major reason for disputes between mediclaim providers and consumers in the past. Hence, any policy that provides a special dispensation for the complication arising out of diabetes/ hypertension is relevant for a person suffering from either.

Also see: How to pay off your home loan faster

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