How much should I reveal on my health insurance application?
That's a helpful question to ask. You know it is not a good idea to withhold information about pre-existing conditions. But you wonder if there is a point where you can give the insurance company too much information. You don't think it is wise to disclose as little as possible, yet also you don't want to disclose everything.
You may fail to answer correctly all the questions about your medical history on the application. You can do this by not giving them the necessary information concerning the state of your health. In this case, the underwriter holds the right to back out of your health coverage.
We have had a few incidents where the insurance company, after the fact, discovered medical conditions not revealed on the application. They rescinded coverage and returned all premiums. I think the lesson we can learn here is that the best policy is to be honest about your medical conditions.
I am aware of a story where an individual failed to reveal a back issue because he did not consider it significant. He was accepted for coverage, and later had surgery. But the insurance company spotted the failure to report the back injury and they rescinded his coverage, and declined to pray for his operation. He was then left with a huge hospital bill.
It is true that applications will put a time limit on the questions. They will ask you, for example, to tell them health information covering the last five or ten years. If that is the case don't reveal what happened after those 10 years. And you don't have to tell them all the tiny details regarding your medical condition. If the insurance company feels they need more information they will contact you for medical records.
A really good tip: Have an insurance broker help you fill out your insurance application.
That's a helpful question to ask. You know it is not a good idea to withhold information about pre-existing conditions. But you wonder if there is a point where you can give the insurance company too much information. You don't think it is wise to disclose as little as possible, yet also you don't want to disclose everything.
You may fail to answer correctly all the questions about your medical history on the application. You can do this by not giving them the necessary information concerning the state of your health. In this case, the underwriter holds the right to back out of your health coverage.
We have had a few incidents where the insurance company, after the fact, discovered medical conditions not revealed on the application. They rescinded coverage and returned all premiums. I think the lesson we can learn here is that the best policy is to be honest about your medical conditions.
I am aware of a story where an individual failed to reveal a back issue because he did not consider it significant. He was accepted for coverage, and later had surgery. But the insurance company spotted the failure to report the back injury and they rescinded his coverage, and declined to pray for his operation. He was then left with a huge hospital bill.
It is true that applications will put a time limit on the questions. They will ask you, for example, to tell them health information covering the last five or ten years. If that is the case don't reveal what happened after those 10 years. And you don't have to tell them all the tiny details regarding your medical condition. If the insurance company feels they need more information they will contact you for medical records.
A really good tip: Have an insurance broker help you fill out your insurance application.
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