Things to Know About Waiting Period in Health Insurance Policies

Every health insurance policy has a minimum waiting period before which it can be deemed active. But what does that mean for you as a customer? The waiting period can be defined as the minimum span of time you should wait for before your diseases start getting covered by the plan. The reason being, the insurance provider, cannot deny the health insurance claim or cannot reject the claim once it is made after the waiting period is over. It can be spread across various conditions, and it is necessary that one be aware of how the waiting period concept works before you buy an online health insurance plan.

When You Have Pre-Existing Diseases

Say you have various other ailments or medical conditions such as diabetes, thyroid issues, high blood pressure, so on and so forth as identified pre-policy purchase conditions which need to be covered as a part of the plan. The medical insurance provider in such a case allows its health underwriters to conduct medical tests and analyze the reports which you provide them with. The impact assessment of the medical report allows them to understand the intensity of the disease at a greater length. It is a kind of proposal which can be accepted or rejected as well as postponed depending on the assessment score your reports fetch. If the health condition is liable enough to be covered by the health insurance provider, it entitles the buyer to a waiting period of a minimum of 4 years. The hospitalization expenses, the medical bills and every other reimbursement which is associated with these pre-medical diseases, can be claimed completely, only after four years. Therefore, most of the providers recommend that you sign up for the best health insurance policy early in your life wherein the premium (can be arrived at using a health insurance calculator) and the waiting period is lower. Therefore, whenever the need is, you can claim your medical reimbursement without any delay or wait time.

Other Ailments or conditions such as maternity, infant and accident insurance.

Let’s face it, the world is a dangerous place, and that is why we need medical insurance plans. There are multiple policies which cover you when you are pregnant, and these covers extend to your newborn as well. However, as you grow older, different ailments such as problems with the ears, nose throat, bones, hernia, and others do show up without notice, and it is essential that you stay prepared and covered for whatsoever might be the case. A general health insurance policy has a waiting period is 4 years for pre-existing diseases. But ailments, as mentioned earlier, have a waiting period of 1-2 years depending on the intensity of the ailment identified by the underwriters when drafting medical insurance plans. Again, this varies from provider to provider, and you need to choose someone who has a lower duration of waiting for coverage criteria. A general health insurance plan which extends to accidental insurance has a minimum waiting period of 1 month in most of the cases. It is every vehicle owner’s responsibility to get an accidental insurance policy and also renew that health insurance plan every year. As we know, road accidents amount to the highest number of deaths in the country.

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