Insurance Basics: ‘Waiting Period’ in Your Health Insurance Policy

A health insurance policy should be purchased as soon as possible due to the rising cost of healthcare and expensive medical treatments. While buying, you may be unaware of your policy’s exclusions, deductions, and waiting periods. While buying, you may be unaware of your policy’s exclusions, assumptions, and waiting periods. Check health insurance online for options from various insurance providers and choose the one that suits your needs.

For instance, you may believe you would be immediately eligible for a medical claim after purchasing health insurance. But that may not be true, as every health insurance policy includes a waiting period.

What is a “Waiting Period”: A waiting period in health insurance refers to a period after you purchase the policy when you may be ineligible to file a claim, even in a medical emergency. This duration can range from 90 days to four years, depending on your policy’s terms and conditions.

During the waiting period, claims for listed diseases, pre-existing conditions, and maternity coverage would be denied. Your medical needs can be taken care of by Bajaj Allianz’s Health Guard. It covers the costs of medical care incurred while a patient is hospitalized due to a major sickness or accident. This insurance offers a wide range of benefits at a reasonable price that matches your demands.

Claim Process of Multiple Family Floater Health Insurance Policies - A Quick Overview | PayBima

Types of waiting periods

  1. Initial waiting period – Here, the policy is subject to a 30-to-90-day waiting period, which varies by the insurer from the inception date. During this initial waiting period, the insured cannot file a claim for any illness or hospitalization.

However, the waiting period does not apply to accident cases. Check Bajaj health insurance plans for families to know about the waiting period for a family floater plan. *

  1. Pre-existing conditions waiting period  – Mentioning existing conditions, such as diabetes, high blood pressure, thyroid, etc., when purchasing health insurance classifies these conditions as pre-existing diseases. Depending on the medical condition and the insurer, the waiting period for pre-existing conditions can range from one to four years. *
  2. Waiting period for specific diseases – One to two years might be the average for conditions such as ENT disorder, hernia, osteoporosis, stroke, and cancer. The list of specific illnesses covered by various insurers varies. *
  3. Waiting period for maternity coverage – Some insurance companies offer maternity coverage from nine to three years from the policy’s inception. There is a ninety-day waiting period for newborn infants. Early purchase of this cover will be recommended if you have married recently. *

* Standard T&C Apply

Points to keep in mind

  • The waiting period for health insurance varies by insurance type. Group health insurance policies, for example, do not have a waiting period.
  • In addition to age, a person’s medical history also influences the waiting period for health insurance.
  • A disease or ailment diagnosed for the first time during the waiting period shall not be considered a pre-existing condition.
  • Some insurance providers may reduce or eliminate the waiting period if a co-payment clause exists.

* Standard T&C Apply

In conclusion, read the fine print of your health insurance online policy for exclusions and waiting periods. Choose a shorter waiting period to obtain health coverage sooner rather than paying for medical expenses out of pocket.

‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.’

Elizabeth R. Cournoyer

Web enthusiast. Internet fanatic. Music geek. Gamer. Reader. Hipster-friendly coffee practitioner. Spent 2001-2007 merchandising human hair in Fort Lauderdale, FL. Spent 2001-2007 short selling tinker toys in Fort Walton Beach, FL. Spent 2001-2007 importing acne in Phoenix, AZ. Spent several months importing methane in Mexico. Spent the better part of the 90's creating marketing channels for wooden horses in Bethesda, MD. Lead a team implementing toy monkeys in Deltona, FL.

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