Karen is considering replacing her individual accident and health insurance policy with another individual policy. She has had issues in the past with her gall bladder that would be considered a pre-existing condition. How will a pre-existing conditions exclusion affect Karen's new insurance contract?
A) The new policy will cover pre-existing conditions immediately
B) The new policy will have a waiting period for pre-existing conditions
C) The new policy will exclude coverage for all pre-existing conditions
D) The new policy will provide coverage for pre-existing conditions with a higher premium