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Congenital Conditions
Congenital conditions and illnesses were also previously excluded from insurance arrangements because their presence indicates an expected expense rather than an unlikely one. Congenital conditions in medical terms refer to illnesses or defects present from birth, or have been in existence for a long duration. In this regard, policies that give holders this benefit are expensive, or have lower coverage limits. The rationale is to provide some cushion against medical expenses, rather than to leave potential policyholders who need medical insurance without any resort. Insurance cover against congenital illnesses can also help to take care of the medical expenses of a new child born to a mother whose cover includes this benefit.
Maternity Cover
Nearly all insurance companies now offer a cover against maternity costs for their policyholders. Pregnancy is not a health condition as such, and delivery is assured. These two elements explain why traditional policies did not include the cost of maternal care. In today’s medical insurance market, it is possible to buy a health cover that includes maternal care. For some health insurance carriers, this entails higher premiums and in others, there are tight controls on the limits of the cover. Some covers also take into account the cost of managing congenital illnesses a new baby may come with.
Conclusion
The insurance sector is very dynamic. In this regard, these product features will certainly change in the years to come. Some of the changes are market driven, others are instigated by governments and regulators, while others are initiated internally by the companies, either as a response to business realities, or because of moral suasion and ethical considerations.
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