Family History

Definition:

Family history is the information about the medical conditions or diseases that run in the family or direct blood relatives.

Description:

Under a health plan, family history is important to know to avoid underwriting risky proposals like the one with the pre-existing diseases. When disease runs from one generation to another, it makes the younger ones susceptible to the conditions. Insurance companies consider family history to charge a fixed amount of premium because the risk can be higher.

Insurance companies ask questions about genetic diseases like cancer, diabetes, and other terminal illnesses because it indicates the probability of loss and claim. It is not impossible to get an insurance policy with a family history of illness, but you might have to pay a higher premium with the condition.

Example:

For example, Montu wanted a cancer plan. The insurance company provided him with the proposal form and asked him to fill in the valid details. In the proposal form, Montu indicated that family his father suffered from blood cancer. Keeping the family history in mind, the insurer provided the health plan to Montu but at an increased premium and under specified conditions.

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ADV/5/22-23/290