If you are buying health insurance, do not ignore this thing, otherwise you will regret later
In today's time, health insurance has become a necessity for people. But if you are going to buy health insurance, then first check its waiting period. Many people are not aware of the waiting period and they ignore it unknowingly. But later this mistake costs them heavily.
No one knows when a health emergency will come in front of whom. Everyone should be prepared to deal with it. At least everyone has got this lesson from Covid. This is the reason why people's inclination towards health insurance is increasing rapidly. In today's time, health insurance has become a necessity for people. But if you are going to buy health insurance, then first check its waiting period. Many people are not aware of the waiting period and they ignore it unknowingly. But later this mistake proves costly for them. Here know what is waiting period, how many types 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 for 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 waiting period. Waiting periods 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 have any pre-existing disease, you have to tell about it while buying an insurance policy. There is a waiting period for pre-existing diseases as well. 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 special 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 buying an insurance plan, find out the plans of many companies because every company has its own waiting period. Only after this, buy a plan with a short waiting period. Apart from this, if you feel that the waiting period for a particular disease is too long, then you can also reduce it by paying a little extra from your pocket.
