Waiting period

 

In health insurance policies, waiting period is the time a policyholder has to wait before he/she can start making claims. Initial waiting period is the first 30 days after the commencement of the policy when insurance companies will not admit any claim for hospitalisation expenses. Insurance companies have waiting period because they do not want to pay for claims that are certain and predictable.

Accidental injuries, however, are an exception. If you have any pre-existing health conditions, you will have to wait longer for the cover. In such cases, the waiting period is usually 48 months, but some have a lesser waiting period of 24/36 months too.

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