Before beginning our discussion on the most important risk factors in medical insurance, let us take a look at how medical insurance works and how risk factors are covered by medical insurance and to what extent. The basic function of medical insurance is coverage of risk factors that our health and medical condition can become vulnerable to. But undoubtedly, only risk factors in relation to our health that are probable but are not assured to happen are covered by medical insurance and the risk factors that have a high probability to take definite shape depending on the medical condition of the person are not covered.read more information on medical travel insurance at http://www.college-student-guide.com/all-you-need-to-know-about-pre-existing-medical-travel-insurance/
Here we would describe some of the most important risk factors in medical insurance.
Disclosure of Health Information
Though through medical checkup of the person to be insured in relation to the diseases and health conditions to be covered under a medical insurance contract is a standard procedure, in many cases non disclosure of earlier or old data concerning the health condition of the patient in that time can cause serious outcome for the insurer company. In several medical insurance cases it has been observed that earlier medical condition in respect of mental or psychic health can again erupt in the course of time after the person has been determined as fit and fine just when the insurance cover began. This non disclosure of earlier medical history can prove to be riskier for a medical insurance company as several such cases at a given point of time can hit the bottom line of the medical insurance fund and in turn can make a negative impact on the claim settlement of the company and insurance claim management. Depending upon the gross outcome of this surely disclosure of health information should be considered as one of the most important risk factors in medical insurance.read more information on risk factors in medical insurance by clicking here
Disclosure of Hereditary Lineage of Health Trouble
We all know that several diseases and health disorders are hereditary in nature and diseases in the family history and lineage ultimately can show up in the later period by making the person sick all of a sudden. Many such diseases like epilepsy can cause other fatal medical condition and can show up all of a sudden in a man’s life and in majority of cases these diseases have a lineage in the family history. Non disclosure of hereditary diseases and disorders is a common place practice as because it cannot be properly diagnosed in the medical test until the person in question becomes victim to it. Thus non disclosure of these hereditary medical conditions and their probable outcome can make the insurer company vulnerable to settling undeserving claims and can prove fatal to economic solvency of the claim process.
Non-Disclosure of Imminent Change in Lifestyle Condition
Among the most important risk factors in medical insurance from the perspective of the company, this is one area that cannot be easily addressed by any medical insurance company. After taking the medical insurance coverage with all legitimate disclosure of information to the insurer company, if the person goes to a different geographical location of extreme weather condition and consequently suffers from illness, it cannot be said illegitimate non-disclosure of information, but definitely this along with other indefinite conditions in a man’s life can prove to be risky in financial terms of the company.