Full Disclosure - Make Sure Your Critical Illness Coverage Is Valid

In recent years, it has come to light that one of the most common reasons Critical Sickness claims are denied is because the policyholder did not provide complete details about a prior illness when the first insurance was taken out.

Though there are times when a fraudulent claim is made by withholding information on purpose, the main reason for such a rejection is that the policy applicant was unaware that information they thought was unrelated to their news coverage was actually relevant and should have been disclosed at the outset. 

What information needs to know for submission?

Make sure you submit all pertinent information about any sickness you've had, no matter how slight, to verify that your critical illness cover is legitimate. This includes any health-related investigations or tests you've done, as well as any conversations you've had with your doctor about your personal issues.

If you're unsure about what information to provide or the kind of disease you've had, speaking with your doctor about the specifics of any treatment or even reviewing your own medical records will help guarantee that your application is accurate and that any future claims you make are genuine.

Though critical illness insurance companies do not have direct access to your medical records when you purchase a policy, if you file a claim or appealing critical illness claim, the insurance company will most likely seek to see your whole medical history, which will reveal any discrepancies.

At such a crucial time in your life, the last thing you want to learn is that a lack of attention to detail on your application has resulted in a policy that will not offer the coverage you want. So take your time with your application and double-check that your medical history is accurate.

Why is critical illness insurance so crucial?

Many people are finding that critical illness insurance is increasingly necessary since it offers the financial assistance needed to guarantee that their way of life, as well as that of any dependents, can continue if they are diagnosed with the severe or critical disease.

However, as the popularity of such rules grows, so does the level of complexity required to apply. If you have any concerns about your application or believe that there is information missing from your policy, contact your insurance provider right away and make the appropriate changes.

Adding more information to your critical illness insurance policy does not necessarily result in a higher premium. In certain circumstances, more information may actually lower insurance pricing. Even though your premiums will be somewhat higher once your whole medical history is revealed, this is preferable to discovering information during a claim and discovering that the premiums you have been paying have suddenly been useless.

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