health assurance - Can Your assurance Drop You If You come to be Seriously Ill?

Health Insurance - health assurance - Can Your assurance Drop You If You come to be Seriously Ill?

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Everyone worries about the stories they hear about a health assurance firm dropping coverage in the event of a serious illness. Generally these stories only happen when an assurance firm is being sued for breaking the law. When that happens the individual will win because the assurance manufactures is one of the most regulated industries in the country. It would not do whatever any good to pay for assurance each month when they do not need it only to need it and get dropped. The medical assurance plan is a legal document that requires things from the assurance firm and the insured. Once the policy is issued, there are very few ways the assurance firm will be allowed do desist the coverage.

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Coverage can only be closed due to false facts on an application or non payment of premium. They can not even raise the rates on an individual by themselves if they have a major claim. The rates have to be beloved by the department of insurance. Any increase in rates can not be based on an individual or their claim. The increases in rates can only be done to an entire group of policy holders. So if you have a major illness, when your reparation date arrives, your rate will be the same as whatever else in the same age and gender category. If an individual lies on the application there is a two year duration that the assurance firm can contest any claims made on the application. If fraud has been committed on the application then the claim will not be paid and the policy will be terminated.

The whole purpose for assurance is to pay for catastrophic illnesses. Nobody would purchase coverage and coverage would not be recommended if the clubs could take monthly premiums when population are healthy and pay nothing when they get sick. This is the presume that the manufactures is so regulated. It is easy to have a good and low rate if you never expect to pay claims. Be sure to check with your local state's department of assurance to make sure that your new policy is in good standing with the state regulators. The incidents that do occur end up in court and the clubs are severely reprimanded and punished to the point that they all know paying the claim is the least costly way to cope high claims. When these cases happen they are often blown up in the media and even become the source for Hollywood movies. The presume is that it is uncommon for an assurance firm to drop someone who has paid premiums. The regulations and laws make sure that assurance is exactly that.

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