Waiting Period In Health Insurance
The concept of waiting period in a health insurance policy is defined as the period of time specified which must pass before some or all of your health care coverage can begin hence this is the period during which claim is not admitted.
Waiting period in health insurance. General treatment waiting periods. The waiting period in health insurance refers to the time period that needs to be passed before you can start availing of the benefits. Some insurance companies offer this as an add on cover while some make it a part of their basic health policy. Under this waiting period diseases contracted between the policy inception date and the last day of the waiting period are not paid for.
There is a 90 days waiting period for infants or new born babies. General health insurance waiting period is one month for every policy except for accidental cases. Different conditions and coverage have different waiting periods and have different rules for the same. As a standard in the industry all health insurance policies today at least have a waiting period of up to one month.
The benefit of waiting period is given to providers as a safeguard of sorts from fraudulent claims. It s important for you to be familiar with the waiting period concept in order to be better informed while picking your health insurance plan. Most of the health insurance companies imply a waiting period of 3 4 years hence you can claim under maternity cover post completing this waiting period with your insurer. Generally waiting periods vary from two to six months for items such as general dental optical and physiotherapy and up to 12 months or more for major items such as orthodontics or hearing aids.
Initial waiting period most of the health insurance companies come with an initial waiting period of 30 days to 90 days on purchase of a new policy.
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