Waiting Period in Health Insurance

Health insurance is something that one needs to have in this era. The life standard of people is definitely going up with time and development, but the health standard is going down. Many people are a victim of obesity, blood pressure, and diabetes as well as other diseases that are the result of stressful life of present age. With age also, the body has to face various health issues, and one cannot rely on the government hospitals where treatment is possible at a low cost, but only if your turn comes. The treatment of the same is highly costly in private and hospitals and nursing homes. Hence looking at all such points, it is always advisable to have health insurance, which can work as a shield in case of any need for medical treatment.

What is the waiting period?

As per the insurance companies, some diseases prove to be deadly, but they do not occur suddenly. Conditions such as blood pressure, kidney stone, diabetes, or cancer do not happen overnight. At the time of purchasing the policy, a client may be already suffering from any of these diseases, and after paying the premium, the company may have to face the claim due to the hospitalization of the client because of any of the pre-existing diseases. In that case, the company asks the clients at the initial stage to declare if they have any medical issues. The clients who suffer from such illnesses need to reveal the fact. The company does not cover the diseases which are already there and called as pre-existing. However, the companies do not deny but keep a waiting period and after completion of which the company can cover issues related to these pre-existing diseases also.

How much is the waiting period usually?

Well, this waiting period in health insurance also varies from company to company as some companies cover them after 12 months while a few also cover them after 36 months. However, after completion of the concerned period, companies usually ask their policyholdersto go for medical tests. It is done so that the medical condition of the body can be figured out. Accordingly, the company may offer coverage for such diseases or prefer to provide the same with a rate up. It means that the insurance premium of the client may go up to cover the said diseases.

The waiting period also depends on the nature of the illness. In the case of critical illnesses, such as cancer, kidney failure, and heart attack, most of the health insurance companies in India have a longer waiting period. It usually remains between 24 and 36 months. In some rare cases, the waiting period can also go up to 48 months. For this reason, when you buy a health insurance policy in India, you must clearly ask about the waiting period, and make sure the same is mentioned in the policy papers. If your family’s medical history has any critical illness, you should opt for a policy that has comparatively lower waiting period.

What kind of diseases have a waiting period?

From different companies, there are different types of insurance policies that can prove useful to the client. However, each of the policies has some waiting period that one must take into account while going for any of them. As far as the treatment and diseases are concerned, each company has some variation. There are companies with a high premium that cover all the diseases from day one of the insurance coverage. But there are also a few insurance companies that include onlycertain diseases. The waiting period is a crucial factor for the company as well as the client.

Well, there is no specific list of diseases that are covered by the companies. However, one can say that any disease which the client is not aware, and soon he is diagnosed with it, where he needs hospitalization, in that case also the disease is covered with minimum waiting period. While going for any of the insurance companies, one needs to compare the waiting period for pre-existing diseases and other factors that determine the premium rates. One also needs to check the features of other companies with premium and compare them before going for any particular service provider.

Get the best policy

Well, there is nothing called the best policy in the market. Every service provider offers different plans with different features, and hence, a policy suitable for one may not be that much useful for another. One needs to check them as per their requirements and also get their reviews from various users so that one can have the right decision.

While the waiting period is an essential factor to decide if one should to go for the concerned policy or not, one must know that there are also specific plans by some companies which are offered to the clients who are prone to such diseases. However, for that, one needs to go for an in-depth check of the policies first.

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