Health insurance is very helpful during health emergencies. But while taking it, it is very important to look at the waiting period in it. Many people ignore it due to lack of information about it, but later regret it when the medical expenses are not covered due to the waiting period.
Health Insurance: In today’s time, health insurance has become a necessity for people. No matter how much money you earn, but if ever a health emergency comes, the money saved flows like water. Therefore, it is better that we prepare in advance to deal with these situations. The way to do this is health insurance. Health insurance is very helpful during health emergencies. But while taking it, it is very important to look at the waiting period in it. Many people ignore it due to lack of information about it, but later when the cost of treatment is not covered due to the waiting period, then they regret it. Know here how many types of waiting periods are there and what is the way to reduce it.
First understand what is waiting period
Buying a health insurance policy does not mean that the insurance company will start covering all your problems from the next day itself. You will have to wait a few days to claim insurance. The period from the time you buy the policy till the time you can claim any benefit from the insurance company is called the waiting period. The waiting period can be for different periods.
Standard cooling-off
This is the initial waiting period of any insurance policy. Usually its duration is 30 days. Meanwhile, if you are admitted to the hospital due to any disease, then you will not be able to claim for its expenses. However, a claim can be made if you are admitted due to an accident.
Waiting period for pre-existing diseases
If you already have any disease, then you have to tell about it while buying the insurance policy. There is also a waiting period for pre-existing diseases. This waiting period can be from two years to four years. That is, during this waiting period, that disease of yours is not covered in the insurance.
Waiting period for specific diseases
Waiting period is also imposed by the insurance company for all major problems like hernia, cataract and joint replacement, cancer surgery. This waiting period can be from two to four years. These are clearly mentioned in the policy document.
Waiting period for maternity
Health insurance does not give you the benefit of maternity, and the maternity benefits come with a waiting period. The waiting period can be from 9 months to 3 years. Apart from this, there is also a waiting period for mental illnesses. This period can be up to two years.
How can the waiting period be reduced
While buying any insurance plan, you must pay attention to the waiting period. For this, before taking an insurance plan, find out the plans of many companies because every company has its own waiting period. Only then buy a plan with a shorter waiting period. Apart from this, if you feel that the waiting period for a particular disease is too long, you can also reduce it by paying a little extra from your pocket.
