Chat with us, powered by LiveChat

High Risk Health Insurance

The Toronto life insurance sphere is yet to incorporate high risk health insurance pools in the array of policies it provides the people of the city with. Toronto life insurance is a multi-faceted subject, and you need a good Toronto life insurance broker to help you understand the nuances of the trade. It is slightly disheartening to note that Canada is yet to make note-worthy headway in the establishment of high risk health insurance pools. There are a wide range of insurance policies that protect the interests of individuals and corporate houses, but there is precious little for those suffering from certain chronic ailments.

Critical illness insurance does protect policy holders when struck by diseases whose effects are devastating, and treatment highly expensive. All the same, certain diseases go uninsured because the treatment of these ailments require frequent medication procedures that entail sophisticated equipment, top notch medicines, and thus, hefty bills. Certain forms of cancer, cardiovascular conditions, HIV-AIDS, immunodeficiency problems and central nervous system issues are some of the illnesses that fall under the “high risk” diseases category. Insurance providers generally do not provide insurance for such diseases as they are chronic and become expensive for the insurer.

In United States of America, most of the states have developed high risk health insurance pools, wherein the state funds the health insurance coverage and the policy holder pays premiums to the state insurance entity. These pools are not necessitated by law, they have been established for the sake of thousands who suffer from long-term diseases who are turned down by insurance companies by virtue of their illnesses. The premiums are quite expensive but they are not a cause for complain as the policy delivers efficiently.

The benefits of the insurance can be used towards purchasing prescribed drugs, maternity care and mental health care, besides footing medical bills, hospice bills and the like. These high risk health insurance pools sometimes also include substance abuse treatment in their ambit.

The advantage of being a part of high risk health insurance pools is that you know you are covered monetarily even if you are diagnosed with a high risk disease that might affect other insurance policies that you may have purchased. These pools accept even those who have faced rejection from leading insurance providers on the grounds of their fickle health. However, the premiums are known to hit the roof, and whether or not you need to be insured by such a policy is oft times dictated solely by your budget.

It is advisable for you to approach a Toronto life insurance agent and discuss if substantial policies are within your reach at your budget. Get yourself thoroughly examined by doctors of good repute and seek expert advice on whether you are likely to contract, through inheritance or environmental factors, any high risk diseases. Think of your budget and prioritize your issues before joining a high risk health insurance pool. The diseases covered and other aspects of benefits vary from company to company.