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GoBear In Conversation with Pacific Prime

5 Commonly Asked Questions

Health insurance can get pretty complicated. GoBear speaks to Pacific Prime on the most commonly asked questions that have been posed to them.

Q: What are other common insurance policy exclusions? 

A: One of the most common exclusions beyond pre-existing conditions is waiting periods. This is an amount of time that must pass before any claims can be made against an insurance policy. For example, it is very common for maternity insurance policies to feature an extensive waiting period.

Another common exclusion is dangerous activities. This would prevent any insurance payouts being made for injury as a result of activities like skydiving, vehicle racing and the like.

Q: What is a pre-existing condition? 

A: A pre-existing condition is any recent, ongoing, or chronic condition or illness you have had prior to obtaining a health insurance policy. What’s most relevant here is that a majority of insurance policies will exclude pre-existing conditions from coverage.

There are insurers that will include coverage for pre-existing conditions, but the premiums on these plans will be much higher than if the conditions were excluded. Common pre-existing conditions include diabetes, high blood pressure, asthma and high cholesterol.

To avoid pre-existing conditions, it is best to get insurance early, as well as ensure that your policy is both portable and renewable.

Q: What is a deductible?

A: An insurance policy’s deductible (also known as an excess) is an amount of money that must be paid to the insurer in order to make a claim on an insurance policy. Sometimes this is paid for each claim, while other times it is paid annually. After this amount is paid the insurer covers costs up to the maximum limit on the policy. A ‘zero deductible’ policy means that no additional money need be paid on the policy beyond the premium.

Q: Can my policy be canceled at any time?

A: With regards to cancellation by the policy holder, yes. No matter the reason, you can decide to end your policy at any time. However, it should be known that you may only receive a refund of any kind if you have not made any claims against it. Additionally, there may be additional fees associated with a cancellation.

Q: Are Dental benefits usually included on a policy?

A: While not generally included in a health insurance policy, dental coverage is frequently an option that can be added in. Other such benefits include optical, maternity and more.