Waiting Period in Pre-Existing Disease (PED)

Posted on: Jun 21, 2024 | 3 mins | Written by: HDFC ERGO Team

Waiting Period in Pre-Existing Disease (PED)

Health insurance is one of the biggest life requirements. This is why everyone needs to invest in good health insurance plans. However, when buying a policy, you should be aware of certain important terms like pre-existing diseases (PED) and waiting periods. Read on to know what they are.

What are pre-existing illnesses?

A pre-existing disease in health insurance is a medical condition that the policyholder already has before the health coverage begins. This includes diseases like diabetes and hypertension, among others.

Waiting Period for PED

If you have a pre-existing disease, you will have to wait for a stipulated period before you can make a claim on the policy. The PED waiting period differs from insurer to insurer and is also based on the specific type of disease. The periods usually range between two and four years.

Important things to note about the health insurance waiting period

1. Making a claim:

You cannot make any claim for any disorder that happens due to a PED. If your hypertension causes a heart attack, you won't be able to get the claim unless the waiting period is exhausted. You must inform the insurer about all your PEDs before you buy the policy to avoid any discord later on.

2. Reduction by paying extra:

Many insurance providers have the option of reducing the waiting period by paying an extra premium. This is a wonderful feature that you should opt for if your budget permits. For example, if you have a thyroid problem and the insurer promises to reduce the waiting period to 9 months from 4 years by paying an extra premium, it can stay covered more comprehensively.

3. Not included if recently affected:

The waiting period clause won't apply if you get the illness for the first time after you buy the plan. For example, you buy a health plan in May 2023, and in March 2024, you have a diabetes diagnosis for the first time. You can then claim without having to wait for the standard waiting period related to diabetes.

Conclusion

Now that you know more about the waiting period for health insurance, make an informed decision when buying a mediclaim policy. Keep all the points mentioned above in mind and look for a plan that offers the best coverage at the best rate while also offering reasonable waiting periods. This will help you to get the assistance of health insurance whenever you need it.

Disclaimer The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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