What is Pre-existing Condition?

What is Pre-existing Condition?

When applying for life, health, trauma, even travel insurance, you will be asked some health questions, which allow them, the insurers to determine what medical conditions the insured people have and how serious it is.

Definition

Pre-existing condition is medical history the insured people are aware of before applying for insurance. Medical history affects the insured's premiums and terms and failing to declare pre-existing condition affects claims. It’s essential to confirm that the information you filled in is correct and true before you submit the application.

Has the medical history been covered?

Majority of the insurers may treat pre-existing condition differently based on the products you are applying for. In respect of health insurance, it’s highly likely to exclude pre-existing condition even you are fully recovered while applying for health cover.

As for life and trauma insurance, some insurers will also determine whether to insure or increase premiums based on the severity of the medical history and the types of disease.

Do you need to truthfully declare the medical history when applying for insurance?

The answer is YES. Although it is true that the medical history has brought exclusion clauses or increased premiums to the insured people, the direct consequence of concealing the existing medical history is that the insurers have the right to decline your claims if the condition is determined as pre-existing condition and you failed to declare when applying for the cover.