46-Year-Old with High Cholesterol: To Disclose or Not to Insurance?

Ans: Cholesterol can be regulated through diet too. Particularly early dinner by 6 pm and avoid junk foods and outside food which might have palm oil as cooking base. Once your cholesterol is normal check with a Nutritionist for a balanced diet and start regular work outs. Statin breaks down the muscle protein too so one will have fatigue, cramps and aches. So consider not to take it for long periods

Ans: It's essential to be transparent about pre-existing conditions like high blood pressure (BP) when applying for a health insurance policy. While I can't provide a definitive answer without reviewing your policy documents and the specific terms and conditions, here's some guidance:

Review Policy Documents: Take some time to carefully review your health insurance policy documents. Look for any clauses related to non-disclosure of pre-existing conditions at the time of policy issuance.

Contact the Insurer: If you're unsure whether you disclosed your high BP when taking the policy, consider reaching out to the insurance company directly. They can provide clarity on the information provided during the application process.

Grace Period: Since your policy is more than 3 years old and you haven't made any claims, it's possible that any non-disclosure issues may be considered lapsed due to the grace period typically provided by insurers.

Future Claims: In the event that you develop heart-related ailments in the future, the insurance company may investigate whether the non-disclosure of high BP was intentional or unintentional. If it's determined that the non-disclosure didn't affect the underwriting decision or the terms of the policy, your claim may still be honored.

Seek Professional Advice: If you're concerned about the potential impact of non-disclosure on future claims, consider consulting with a legal or insurance expert who can provide personalized guidance based on your specific situation and policy terms.

Ultimately, it's crucial to maintain transparency with your insurer and ensure that all relevant information, including pre-existing conditions, is disclosed at the time of policy application to avoid any complications during claim processing.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Ans: When purchasing a mediclaim policy, it is crucial to disclose all relevant health information to your insurance company, including your current medication for cholesterol, even if your levels are within the normal range. Here's why:

1. Transparency and Honesty: Insurance contracts are based on the principle of utmost good faith (uberrima fides). Failing to disclose complete information can be considered a breach of this principle, potentially leading to the rejection of claims.

2. Pre-existing Conditions: Insurance companies often have specific clauses related to pre-existing conditions and waiting periods. Disclosing your medication helps ensure that your policy accurately reflects your health status, and any pre-existing conditions are appropriately considered.

3. Claim Rejection Risk: If you do not disclose your medication and later file a claim related to a heart condition, the insurance company may investigate your medical history. Discovering that you did not disclose your medication could result in claim denial or policy cancellation, especially if it relates to a condition you were aware of but did not mention.

4. Legal and Financial Repercussions: Non-disclosure can lead to legal and financial consequences, including denied claims and possible penalties, leaving you without coverage when you need it most.

5. Customised Coverage: Providing complete health information enables the insurance company to offer a policy that best suits your needs, potentially providing better coverage options or terms specific to your health situation.

To ensure you are fully covered and avoid complications:

• Disclose All Health Information: When applying for the policy, include all relevant details about your health, including medications and doctor's advice.
• Read the Policy Document Carefully: Understand the terms and conditions, especially regarding pre-existing conditions and waiting periods.
• Consult Your Insurance Agent: If you have any doubts or need clarification, consult your insurance agent or a financial advisor to ensure you are fully informed and compliant.

By being transparent about your health status, you can secure your mediclaim policy effectively and avoid potential issues with future claims.

Ans: Dietary discipline is good enough.
Consult a Nutritionist and get diet prescribed considering your work
Also always have dinner by 6 pm