How does Health Insurance With Waiting Period Work ?

Types of waiting period

Almost every health insurance plan has this pre-determined period where you cannot file a claim. This period is classified under three categories as listed below.

1. Initial waiting period

If you fall sick or need hospitalization during this initial period, the insurance company will not provide any benefit under the health policy. The insurer will only cover medical and hospitalization expenses incurred due to accidental injuries during this period.

2. Pre-existing conditions waiting period

If you suffer from any medical condition before or at the time of availing the policy, treatment expenses for this will not be covered. This period may vary from a few months to several years depending on the type and severity of the pre-existing ailment.

3. Disease-specific waiting period

Hospitalization or medical expenditures arising due to pre-specified illnesses are not covered under a  health insurance plan. Generally, your insurance company will provide you with a list of such conditions that are not covered under the policy till the specific waiting period expire.

Can you change the waiting period?

Some insurance companies offer the option of reducing the waiting period by paying a higher premium.

Insurers include this period before providing policy benefits to reduce their risks. Pre-existing conditions and severe medical conditions may require expensive treatments. It is possible that you may urgently need funds to treat a pre-existing disease and are looking for a no plan. However, such policies are often not available and your best bet is to find a plan with the lowest period for waiting or insure early while you are healthy and wouldn't be impacted by the waiting period clause.