Firstly, a pre-existing condition means something that you already have when you apply for health insurance. This means that if you already have a disease or illness, say cancer, it would typically be included in your medical history and deemed pre-existing. By the same token, if you are newly diagnosed with cancer, at the point of applying for insurance coverage there is typically no pre-existing condition involved per se.

It’s possible to get insurance even after a pre-existing condition. But it depends on what type of plan or product coverage your current or potential new provider or insurer offers.

How do pre-existing conditions work in insurance?

• Is the person applying for health insurance at their ‘first opportunity’ in the marketplace?
• Did they have a prior plan terminated for nonpayment of premiums?
• Did they apply for retroactive coverage?

Now, what does this all mean in practice?

In addition, if the insurers agree that you have a pre-existing condition, they will typically deny your claim; or switch you to a plan with a higher premium.

However, it’s possible to get insurance if you have cancer or another condition as long as:

• You signed up and paid premiums every month while keeping your original plan in force. If you have an employer’s group health insurance policy and leave employment, the insurer can ask for payment of the claims incurred on or before that date. This is why it’s important to get health insurance while still employed instead of waiting until you leave work.
• You are signing up at your first opportunity in the individual marketplace or with a new employer. If you sign up late due to a lapse in coverage, they may deny coverage or force you to pay extra.
• You applied for retroactive coverage and had policies terminated in the past. The ACA prevents insurers from denying claims that occurred while someone was insured. But they can choose not to offer coverage that started after an individual moved between plans; or waited until the next year’s open enrollment period instead of a normal renewal date.

It’s also reported that some people have been denied care due to pre-existing conditions, although this is less common than previously after the Affordable Care Act was introduced and implemented across most states. Since the law was passed, there have been reports of several cases where people were denied or charged higher premiums for pre-existing conditions.

You can watch this video for additional information about what Affordable Care Act:

While there is no standard set of rules across all states, the ACA introduced a number of changes. Some say that most plans can’t charge more than 50 percent for people who are deemed to have pre-existing conditions. This only applies to essential health benefits, which are 10 mandatory benefits outlined by the ACA. But it’s important for consumers to look at their policies. And it’s to understand any potential exclusions due to the pre-existing condition rule. There could be additional charges or higher premiums. But this is typically capped at 50 percent above what people without conditions pay.

Insurers can also refuse coverage if you had a plan terminated for nonpayment of premiums. It’s such as an individual or small group health insurance policy, not paid in full due to missed payments. If you are eligible for premium tax credits based on your income, this will also be used to determine what your health plan premium should be.

Related Readings:

• Health insurance: What is a deductible?
• Credit Cards for Travel Insurance

In some states, you may be able to get a waiver saying that you cannot be denied due to a pre-existing condition. In other words, the insurer can’t charge you more. But they may still ask for documentation and payment of the claims in full; or want proof that you are covered through insurance elsewhere.

Some state laws make it easier to obtain coverage. It’s in the condition that your provider thinks you have a pre-existing condition, but this doesn’t apply across all states. This can help people who have an illness without being denied health insurance entirely, although insurers may still require inspections of medical records..

Stay informed about the latest insurance trends and insights for professional insurance agents.

At its best, insurance is a way to protect your assets in the event of an emergency. At its worst, it’s a way for insurance companies to drain your bank account with high premiums and exorbitant deductibles. In a perfect world, it would be easy enough to find low cost insurance that is perfect for you. Unfortunately, this isn’t always the case. And sometimes people are left wondering how they can influence the final cost of insurance.

In this blog post we’re going to discuss some of the things you can do to help keep your rates low — from shopping around for quotes, to considering certain policies, or even exploring certain options that may cut down on costs and simplify the process of searching for the type of protection that best suits you.

Tips on how to influence the final cost of insurance

Tip 1: Shop around for quotes

Although you may know at the beginning of your insurance search that certain providers are more expensive than others, you can’t be sure until you have a quote. When you receive a quote, compare the information with quotes from other companies to make sure the quotes they offer are comparable. If they aren’t, work with them to make adjustments and then shop around again.

Keep in mind that many factors go into determining your final costs: your age; your driving record; whether or not you’ve got multiple accidents; and whether or not you receive a citation for an alleged traffic violation. Make sure that any company taking a look at your policy asks how you want to pay for it and then follows up on those requests.

Tip 2: Get the most from your deductible

It may be surprising for you to learn that the deductible you choose can have a direct impact on how much you’ll pay for your insurance in the long run. Consider getting the highest deductible possible when it comes to your automobile policy. Not only will this help keep costs low, but it may actually provide more protection for you than a lower deductible. Again, this is something to discuss with an insurance professional before making a decision.

Tip 3: Reduce risk through asset shielding

You can also reduce risk by protecting assets that wo your current insurance policy under your current insurance policy. There are two ways you can do this: through umbrella policies and through asset protection trusts.

With an umbrella policy, a separate policy covers you and it provides financial security for you and your family. This coverage can also help protect against future loss of income or potential liability.

If you have life insurance in place, a portion of your beneficiaries’ inheritance can transfer into an asset protection trust. The trust will then be used by your beneficiaries to cover their own insurance needs as well as any future losses they may have suffered due to permanent disability or injury.

Tip 4: Manage your insurance coverage

You can also reduce risk by managing the type of coverage that you have with the various insurance companies you deal with. Look into benefits such as gap or no-fault coverage, which is intended for people who are injured in an automobile accident. This will help you protect assets and will pay benefits should you be hurt in a crash.

Another option is to add another level of protection through collision and comprehensive coverage, which will help cover damage to your vehicle after a traffic collision — and it can also provide financial security for you, if required.

Tip 5: Find ways to pay less

Many people choose a policy with a lower deductible – which means they’ll be asked to pay more in insurance premiums. However, there are ways to find lower premiums. One way is to compare quotes from different insurance companies and make sure that you’re comparing apples to apples when it comes to coverage and deductibles.

Another option is to increase the number of miles you drive each year; this will help reduce the number of miles you travel, which could cut down on your vehicle’s value and result in a lower premium. If you drive a lot, but rarely use your automobile for commercial purposes or for intracostal transportation, you may want to consider purchasing an older model that has significantly less value.

Tip 6: Consider special discounts

Some insurance companies may also offer discounts if you are: a member of certain professional groups; a homeowner; or if you’re a member of certain professional associations. Of course, dependent on the type of membership, some policies may be more valuable than others. If you qualify for multiple types of discounts, you should work with an insurance agent to discuss how the different options could affect your coverage.

Tip 7: Look into alternative forms of automobile coverage

Finally, instead of dealing with a traditional automobile policy, you may want to explore other options that will help keep costs down. One of these options is to simply buy a car and then not worry about the cost of insurance.

Another option – and one that is growing in popularity – is to purchase an automobile policy that includes collision and comprehensive coverage. In addition to dealing with the costs related to a crash, this type of insurance will help cover damage done by a natural disaster, such as an earthquake or hurricane. The policy will help with costs if you’re involved in a minor accident that doesn’t involve another driver, which could reduce your overall liability.

As you progress, don’t forget to review your policy

It’s important to make sure that you’re taking advantage of the benefits offered by your insurance company – such as discounts and coverage extensions – while you’re updating and reviewing the products. Ask if there are ways you can learn more.

Also ask about discounts and perks that may be available for those who have driven for a long time or have multiple vehicles. This is something you’ll want to keep track of throughout the year.

We well know that an automobile policy can prove to be a major expense. However, by following these tips, you can work to reduce the costs associated with your coverage. You may even find that there are ways to save money and lower your premium without sacrificing any of the essential benefits that you need in order to protect yourself and your family.

Insurance is a necessity of life. Insurance companies help protect people and their properties from unforeseen financial losses, including income losses due to illness or injury as well as property damage and fire.

A lot is covered by insurance, but there are some types of insurance that are required in order to be taken advantage of.

Here are some of the things people need insurance for:

Their Vehicle

Vehicles are a necessity of life in this day and age. These days, there’s no getting around the fact that you need a vehicle in order to commute to and from work (if you have a job), school, or anywhere else for that matter. So it goes without saying that if you drive, it is imperative to have vehicle insurance because your own auto insurance policy will protect you from any financial losses that might occur should your vehicle be stolen, be involved in an accident, or both.

Their Pets

Pet insurance is also something that many people need in order to make sure that their furry companions are taken care of should the worst happen. Your pets are your family members, and it’s best for you to protect them from all possible risks.

The Family

In those families where more than one member is eligible for an insurance policy, it is important for each one of them to have a policy in order to avoid an increase in premiums should someone else be taking advantage of their benefits.

Life

Life Insurance is also considered a necessity of life. If you have a life insurance policy, then you will have financial security that your loved ones will be provided for if you should die and they are the beneficiaries of your plan. Plus, you can ensure that your wishes regarding who receives what will be honored, even after you’re gone.

Health

Healthcare is another thing that many people need and are required to have insurance for. It’s because there are so many costs that go along with it. For example, deductibles and co-pays are not getting any cheaper, so if you get sick or injured and end up going to the hospital, you will want to be sure that your hospital stays will be paid for. Health insurance is one of the things people need a lot of.

What do you not need insurance for?

While it’s important to have insurance for many things, some kinds of insurance are highly overrated. The following are some of the things that you might not need insurance for:

Your cell phone

Cell phone insurance can be a waste of money. The reason you have insurance is to recover financially in case something goes wrong due to an accident. But cell phones are not very fragile. After all, they are electronic devices and they’re exposed to moisture and heat on a regular basis. Plus, anyone can fairly easily replace cell phones these days.

Your credit cards

Credit card insurance is a big no-no because it is one of the most useless kinds of insurance there is since it only protects your credit cards in case theft or loss occurs. Losing a credit card can actually cause you to have financial troubles if you don’t have the budget to pay it off immediately. So it’s best not to get credit card insurance in order to manage your own budget more efficiently.

Your retirement account

Another overrated kind of insurance is retirement account protection. Sure, you want to protect your hard-earned cash after all the hours that you’ve spent contributing money. But, remember, if you lose the money or damage it in any way, the government will pay for it anyway. It’s because your funds are insured by federal deposit insurance laws. Therefore, do not opt for something when the government had this thing covered anyway.

Homeowner’s insurance

While this can be controversial, homeowner’s insurance can be a waste of money when it comes to protecting your personal property. Although your home is indeed something you might value – in fact, it’s probably even more than the belongings that you consider most important – there are other ways to protect your property without having to spend money on a big-ticket policy. For instance, if you add up all the things that you could lose because of fire, theft or burglary, it would be safe to say that home insurance is overrated.

Travel

Travel insurance is something which will cover any additional costs associated with traveling. For example, most travel insurance policies will cover the cost and expenses associated with stolen luggage or damaged items inside said luggage.

But travel insurance is one of the most overrated things people buy insurance for. Travel insurance is overrated because it costs money. If you’re traveling via a visa, you’ll have to pay for travel insurance. If you’re traveling via a tourist visa or by yourself, you’ll have to pay for travel insurance. This can be quite pricey and make your trip more expensive than it needs to be. And even then, the promise of covering everything may not be as great as the actual value of said coverage. For example, if your luggage gets stolen while traveling in the United States, odds are good they will not reimburse you for the stolen belongings inside it.

Learn more about why travel insurance is overrated

Is having no insurance at all a good option?

It is never a good idea to have no insurance at all. You never know when something life-changing will happen. And having a proper insurance policy in place will ensure that you are taken care of should the worst happen.

But you should be able to distinguish what it is that you really need; and what’s not as important to you. For instance, if you realize that home insurance is something that you don’t really need, it would be wise to save money on that particular policy and put it toward something more important to your situation.

For example, if you have a big family and there are many people in your household who are eligible for the same insurance policy, then saving money on home insurance could pay for the entire amount of one life insurance policy. This will make sure that your family will be able to take care of itself financially should something happen to the breadwinner of the family.

Of course, there are many scenarios that could cause you to have no insurance at all. For instance, you might get a job in a profession where you can’t get insurance – if that’s the case, it might be best for you to decide whether or not you want to be part of the work force without insurance.

It is also possible that your country has special laws regarding healthcare costs and access to care that make having insurance simply not an option. Or the government might take away your insurance because they say it’s not necessary. In this case, it may be best for you not to have health insurance at all given these circumstances.

To conclude,

In overall, you need to make sure that you always look at the big picture when determining whether or not you will want to purchase a specific kind of insurance, even if it’s a necessity. This will help you decide whether or not having insurance is really something that you really need.

Please note that this article is not any kind of financial advice. It is important to always check with your insurance carrier before deciding whether or not it’s a good idea to make a change to your current coverage. Also consider always reading the fine print of your policies and confirm that the information you are given is accurate!