What is the waiting period?
The waiting period means your coverage of certain listed ailments in your health insurance policy starts only after a certain amount of time. It is an inbuilt feature that is present in almost every health insurance policy. It is also referred to as a ‘cooling period’, which begins at the time you enter into the policy. After the completion of a specific period of time, your complete coverage starts. For instance, your claim may get rejected by the insurance company if it has been initiated within the waiting period. This article will cover every essential aspect of the topic, prominently the types, features, and other crucial points which need to be considered for a better understanding of waiting periods in health insurance plans.
Main types of Waiting Periods in Health insurance plans
Pre-Existing disease (PED)
This term has been extensively emphasized by Health Insurance Companies. It means that, if the potential buyer has got any existing disease at the time of taking the policy, it shall be covered in this type. As per the IRDAI, a pre-existing disease refers to any condition, ailment, injury, or disease that has been diagnosed up to 48 months before buying your health insurance policy. Insurance companies will definitely ask for information about the presence of pre-existing diseases with proper medical evidence. Usually, the waiting period for pre-existing disease ranges from 2-4 years in almost all Health Insurance plans. Diabetes, thyroid, Hypertension, etc are commonly mentioned ailments that have a waiting period.
Waiting period for specific ailments
This term is used for a list of such specific diseases where you need to wait for the prescribed amount of time. Generally, it has a 2-year waiting period. Some of such ailments falling in this category include osteoporosis, hernia, and ENT (ear, nose, and throat) disorders.
Initial waiting period
In all health insurance policies, you will have to wait for 30 days from the issue date of the policy for complete coverage. Only accidental hospitalization will be covered in this waiting period.
Waiting period for maternity benefit
Maternity coverage is indeed considered a pre-existing condition by most health insurance companies, that’s the reason, not every health insurance company includes this rider. This rider basically deals with delivery(childbirth) related expenses up to a certain period till a predefined limit. On average Waiting period for this rider extends from 9 months to 36 months.
Note* If the policyholder has been diagnosed with a disease within the waiting period for the first time, then it won’t be considered a pre-existing disease rather the policy will cover that ailment.
Are there any Health Insurance policies with less waiting period?
Yes, some health insurance companies come up with minimum waiting periods for pre-existing diseases(PED). With the help of this chart, let’s understand the 5 best health insurance policies providing this advantage.
| Health Insurance Company | Name of Health Insurance Policy | Waiting Period for PED |
| Bajaj Allianz | Silver Health | 12 months |
| Star Health | Red Carpet | 12 months |
| Niva Bupa | Heartbeat | 24 months |
| Oriental insurance | Senior Citizen Hope | 24 months |
| Bajaj Allianz | Health Care Supreme | 24 months |
If a long waiting period is bothering you, then this chart shall surely assist you to make suitable decisions in order to get a desired health insurance plan.
Conclusion
No one desires to wait unnecessarily but will have to accept this inherent feature of health insurance. So, it’s advised to opt for a plan with a minimum waiting period in order to avail of the benefits sooner. Don’t worry, you can compare and buy the best health insurance plan on MyInsuranceClub.
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