What is Waiting Period in Health Insurance in Pre-Existing Illness?

What is Waiting Period in Health Insurance in Pre-Existing Illness?

October 4, 2019 10:12 am,

Health Insurance Policy is a must nowadays considering the sedentary lifestyle and junk food culture due to which the human body is more prone to diseases. Good health insurance policies do cover annual health check-ups and preventive services like screening and counselling etc. So, it is always best to take health insurance early in life. Waiting Period in Health Insurance plays a major role.

This article answers all your queries regarding the waiting Period in Health Insurance in Pre-Existing Illness.

What is Waiting Period in Health Insurance in Pre-Existing Illness?

Ailments like diabetes, high blood pressure, thyroid, etc. are Pre- Existing Illness.  At the time of taking health insurance, if an insured person declares that he/she has certain illness then in such cases, insurance agents insist for medical tests for assessing the level of impact of the diseases on the policyholder. Proposal acceptance is purely based on medical reports. In case they accept the proposal, they prescribe a waiting period usually of 4 years. This implies that any hospitalization expenses related to the declared ailments can be claimed only after 4 successful years with the insurer.  Hence, it is important to take health insurance policy early in life to avoid any waiting period.

Is it Possible to Reduce Waiting Period? 

  • Some companies offer an option to reduce the waiting period by paying an extra premium.
  • Normally in group health plans offered by an employer to employees, Insurance companies do not insist on waiting periods for health insurance.

Are there 1 or 2 years waiting period for particular ailments?

  • Health policies normally have one or two years of the waiting period. These ailments include ENT disorders, hernia, osteoporosis, etc.
  • General health insurance waiting period is one month for every policy except for accidental cases.
  • There are 90 days waiting period for infants or newborn babies.
  • There are a few Insurance companies that offer maternity benefits, but with a waiting period ranging from 9 months to 36 months.

Must read points to know more about Waiting Period:

  • During the waiting period, if the insured person diagnoses with a disease for the first time, it will not be called a pre-existing disease. The policy will cover such ailment.
  • With changing times insurance companies have designed plans for senior citizens where health insurance has Co-Pay options. Co-pay options imply that policyholders will have to bear a certain percentage of claim amounts. For example, for a co-pay of 30%, in a claim of Rs. 1 lakh, the policyholder will have to bear Rs 30000.

Hence, if you are in the need of best Health Insurance plan, then do consider the plan with the shortest possible waiting period.

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