Don’t hide your pre-existing illnesses when buying health insurance

| March 8, 2019

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One of the most common mistakes which most of you commit when buying a health insurance plan is not disclosing or lying about your medical condition when filling up the proposal form. You believe that disclosing your existing medical complications would either result in the rejection of the policy or, if the policy is accepted, the premiums would be increased. What you don’t realize is the fact that hiding about your pre-existing conditions would put your claim in jeopardy if the claim occurs due to such conditions. As such, informing the insurance company about your pre-existing illnesses is a wise thing to do. Health insurance companies allow coverage for pre-existing illnesses with some terms and conditions. Let’s understand what these terms and conditions are – Definition of pre-existing illnesses. Pre-existing illnesses or conditions are those medical ailments which you already suffer from at the time of buying a fresh health insurance policy.

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Insurance Brokers Association of Ontario

A membership-based organization serving over 12,000 independent insurance brokers across Ontario. We represent our members to government, regulatory bodies and the insurance industry, advocating on behalf of the consumer. We ensure the needs of brokers are taken into account when government or industry seek to introduce policy shifts that affect brokers across the country. We act as consultant on insurance everything, collaborating to define regulation, education and best practice. Inspired by our membership in everything we do, we're unique but we're the same and we're stronger together.

OTHER ARTICLES

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Spotlight

Insurance Brokers Association of Ontario

A membership-based organization serving over 12,000 independent insurance brokers across Ontario. We represent our members to government, regulatory bodies and the insurance industry, advocating on behalf of the consumer. We ensure the needs of brokers are taken into account when government or industry seek to introduce policy shifts that affect brokers across the country. We act as consultant on insurance everything, collaborating to define regulation, education and best practice. Inspired by our membership in everything we do, we're unique but we're the same and we're stronger together.

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