Waiting Period In Health Insurance
The benefit of waiting period is given to providers as a safeguard of sorts from fraudulent claims.
Waiting period in health insurance. 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. As a standard in the industry all health insurance policies today at least have a waiting period of up to one month. An initial waiting period also known as the cooling period in health insurance refers to the amount of time you ll have to wait from the date of issue to actively start using your health insurance policy and benefiting from it.
The waiting period in health insurance refers to the time period that needs to be passed before you can start availing of the benefits. There are a few insurance companies that offer maternity benefits but with a waiting period ranging from 9 months to 36 months. 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. The waiting periods for general treatment ancillary or extras cover are set by individual health insurers.
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. General treatment waiting periods. 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. Different conditions and coverage have different waiting periods and have different rules for the same.
General health insurance waiting period is one month for every policy except for accidental cases.
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