I am 35 years, married and residing in Davanagere with wife and 5year old son. I had availed a family floater health insurance plan 3 years ago. Recently I got diabetes but I take medicines to keep my diabetes and blood pressure normal. Should I inform this as a disease? What will happen if I don't disclose this condition?
Health insurance plans cover pre-existing ailments but after a period of 36-48 months. Some plans cover pre-existing ailments even before 36 months. This coverage of pre-existing diseases is conditional upon the buyer honestly making all medical disclosures at the time of buying the policy. This means that in case a person actually suffers from a disease at the time of buying the policy but is unaware of the fact and therefore declares himself as medically fit, then the insurer would honor the pre-existing disease related claim after 48 months. However, in case the insurer suspects that you were aware of the pre-existing disease at the time of buying the policy, then the company may refuse to honour the claim. The Insurer mentions the list of diseases conditions which they qualify as pre-existing on your policy copy in order to keep you well informed on what would be covered or excluded from coverage. A non-disclosure may result in not only non-payment of a claim but may also be as extreme as cancellation of a policy by the insurer depending on the severity of non-disclosure.