Someone with a pre-existing condition, especially if it is relatively serious, can find it a challenge to find travel insurance. The good news is that there is travel insurance for you and the rates are based on the nature of your illness.
If a person being insured has heath problems it will pose a great risk for insurance companies since that person will possibly need medical care when traveling. What insurance companies do is either exclude the condition from the policy or else charge the traveler a higher rate for the coverage.
Let us first understand what insurance companies mean by pre-existing condition. Any illness or disease for which you have previously been diagnosed, even if it is already cured, is a pre-existing condition. Furthermore, if you have symptoms of an illness, even if it has not been diagnosed, can be considered a pre-existing condition when you are buying travel insurance.
Chronic health problems or acute diseases are classified as pre-existing conditions. If you have these medical issues or symptoms before you were issued your policy, then the insurance company can either exclude this from the coverage or charge you a higher premium on the policy.
If you want to get a travel insurance policy the cheapest way, then choose one that excludes pre-existing conditions. What this means is that if you will need medical attention during your travel period, your insurance will not cover your medical bills, if you have a pre-existing condition before the policy was issued. Depending on the nature of your condition, exclusion would be a good option. If you are a cancer survivor then you can opt for excluding of your pre-existing condition. So even if the policy excludes cancer, it will not matter to you since you know that you will not need emergency treatment for this condition while on vacation. This option of exclusion helps you get a lower premium than if it had been included in the policy.
As we have seen in that example, you can opt for exclusion than pay for a high premium for coverage. But, there exists a risk factor and your decision reflect on your tolerance for risk.
You can lose your coverage if you fail to inform the insurance company of a pre-existing condition and you experience health issues while travelling. If upon examination of your medical files your pre-existing condition is discovered, then your insurance company can exclude that condition.
Most standard insurance policies include the pre-existing condition clause and with this you are provided a large selection of policies and prices.
You only buy travel insurance that offers coverage without exclusion if your health condition will really require medical treatment during your travels. The cost is high for travel insurance without exclusion since this is high risk for insurance company and so you also need to pay a very high premium.