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Health Insurance: - The Other Side

Nothing is more traumatic in life than to be diagnosed with a critical or chronic illness. Situations are made more complicated when your medical insurer tells you that they won't pay up for your private health insurance for the cancer or HIV, from which you are suffering.

For example, you are asked to read sub-clause seven of paragraph 300 of the small print, which explains you that you are ailing from the wrong type of cancer. Only tumors below the knee are covered and only the first six days of your treatment will be paid - then it's up to you to engage money somehow.

This scenario is weird to make a point, but in spite of insurers & brokers being subject to close regulation, this type of practice continues leave a mark. It has been a very slow process to clean up the insurance sector and to ensure that consumers get a fair deal.

A short while ago a registered organization put some light on this problem by organizing a survey. This brings forward some alarming facts about the private health insurance sector. It found that among the entire leading insurers only one provides insurance for cancer patients throughout the duration of their ailment. The majority of policies cover only immediate treatment. They generally exclude treatment over a prolonged period, such as chemotherapy or hormone replacement. Even though policyholders wants long term insurance for serious illnesses, generally the insurers do not make it clear what the policyholders are actually covered for.

Though most of cancer charities have been in consultation with likeminded organizations within the sector to raise the standard of sales habits and make the phrasing of policy documents unambiguous, progress in this direction has been far too slow since the report was published two years ago. Private health insurance & critical ailment cover is generally taken up by persons who are comparatively healthy. The last thing that shook their minds is getting cancer. That is why it is so important to spell out a plan’s exclusions before they sign up.

A statement of best practice for health and life insurance companies has been updated recently by the Association of British Insurers which is a welcome step. They have recommended insurers to prepare typical case studiesFind Article, which explains the potential buyer of policy the circumstances in which a policy will be paid or not.

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