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Most premium policies, where the cover is high (above  ₹20 lakh), typically, have a lower or no waiting period for PEDs
Most premium policies, where the cover is high (above 20 lakh), typically, have a lower or no waiting period for PEDs

Mind the waiting period in insurance

During the cooling off or the initial waiting period, the insurer may not honour any claim except accident-related ones

To avoid frauds and misuse of health insurance, insurers have a waiting period before they start covering pre-existing diseases (PED) and other specified diseases.

The waiting period usually starts right after the cooling period, which usually lasts a month. During the cooling off or the initial waiting period, the insurer may not honour any claim except accident-related ones.

Insurers don’t admit claims related to a PED or specified diseases during the waiting period. A PED is a condition, an ailment or an injury that was diagnosed up to 48 months before a customer applies for a policy. The waiting period for PEDs can be up to four years, depending on the insurer and the policy you choose.

Most premium policies, where the cover is high (above 20 lakh), typically, have a lower or no waiting period for PEDs.

There are some ailments or conditions that are difficult to detect in medical tests, which customers need to take during the policy-buying process, and the treatment for such diseases could also be postponed for some years. For example, arthritis. Insurers could have a waiting period of up to two years for specific diseases like these.

Some insurers may lower the waiting period if the customer is willing to pay a higher premium.

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