Hiding anything from your insurer may put you in a big loss and make your investment wasted. The insured should mention everything regarding their health on the proposal form of a health insurance. Unless of which, companies will deny the claim of the policyholder based on disclosed information. So, it is necessary to put down everything on paper so that you can take actions legally if your claim is rejected.
Illnesses are uncertain and you may not be aware of having anything serious while purchasing a health insurance. In such cases, you can inform the company from where you have purchased the health insurance. Generally, no company will change their terms and conditions for you. But, some companies have different policies that allow you to be included in their coverage benefits despite having illnesses not disclosed before.
You need to keep in mind that the company has the right to turn down your claim if the hospitalization is caused by pre-existing diseases which are not mentioned in the proposal form.
Sometimes people ignore important issues thinking them trivial matters. For example, if one takes medicines for keeping their blood pressure and blood sugar normal, he/she has to mention them on the form to avoid the future denial or a non-payment of claims.
There is a specific questionnaire in the proposal form that you need to answer. The questions are regarding your health and illnesses. This is important to answer all questions honestly without hiding anything. For a smooth claiming procedure, your company wants to have everything. The company provides you with a clear list of pre-existing diseases and exclusions of the coverage to inform you better about what you will get and what will not.
If you forget anything to mention on the proposal form, it may lead you not only to the non-payment of the claim but also to the cancellation of your policy.
There is a common query whether a life insurance company offers indemnity health products or not. According to the Health Regulations Gazette 2016, life insurance companies cannot offer indemnity health insurance products. In an indemnity plan, the company will provide you with a portion of the amount of your medical expenses and the rest will be paid by you. The company will handle the lump sum part, though.
So, if you have hidden any information, you have two options – you can either intimate your company about this or purchase a new plan as per your needs.