Critical Illness Articles
3 Details to Not Omit on Your Critical Illness Coverage Application
Critical illness coverage can help those who become critically sick or injured with a lump sum cash payment. If an insured individual develops cancer, has a stroke, or even suffers serious head trauma, a critical illness cover benefit can help with much-needed expenses while the sufferer cannot work.
However, if you do not properly complete your critical illness coverage application, you could easily be denied your benefits. In fact, almost half of denials occur because a detail was omitted during the application stage!
The Rejection Scenario
When you complete your application for critical illness coverage, you must be forthcoming with your entire medical history. The smallest doctor visit, even if it was unrelated to a future condition, can be considered grounds for denial if it was not revealed on your medical history form.
This detail can be very important, especially if you change critical illness policies. For example, you purchased a critical illness cover five years ago. While that policy was active, you went to the doctor for a consultation about a medical condition that was neither life threatening nor serious.
However, now you want to cancel your current critical illness policy to obtain one with higher benefits. You omit that rather unimportant physician visit because you were not diagnosed with any serious condition. Nonetheless, if you do not disclose this visit, you could be denied a claim due to a “pre-existing condition” on your new policy.
What can you do to ensure that your medical history has been submitted to your critical illness insurer for consideration? Here are some steps you can take :
Complete the Form Thoroughly
You will have a medical form to complete at the time of application. Generally, a pre-printed form allows you to check boxes and complete a few lines for elaboration. However, always feel free to add additional pages as you see necessary to explain a condition or a specific doctor visit.
Retrieve All Medical Records from All Physicians
In some cases, an insurance company may request additional medical records from your physician, but this does not always occur. If not, you are allowed to request your own medical records. Get copies from all your physicians and submit them to your insurer. If the insurance company has the medical information, they cannot deny a future claim on the grounds that your application was incomplete.
Ask the Insurer about What Else You Can Provide
Stay in touch with your insurance company’s underwriter. Ask questions during the application process. Find out if there is anything else you can provide. Be willing to attend a physical examination (at the insurer’s expense, of course) if they ask.
When you apply for critical illness cover, give yourself every possible advantage for a future approved claim. Be sure to reveal all your medical history upfront. This also means revealing family history, such as heart disease or breast cancer. In addition, be sure all your medical records are available for the insurance company to review. With your details double-checked, you will feel more at ease should you even need to make a claim.
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