The complete guide to health insurance and their waiting periods


As people grow old, the chances of health problems increases likewise. But that in no way means that young people are safe from any kind of medical problem. There are a number of various things that give birth to serious medical issues which include, unhealthy food, extra tension, etc. This is why people must make sure that they have some kind of backup in case they are to face a serious health issue.

Why health insurance is necessary?

Medical expenses and bills are incredibly expensive. They vary based on the disease the person is suffering from but genuinely they are a blow to the family earner. Any uncertain medical or health problem can result in a serious financial hit. This is exactly why people prefer having health insurance policy under their name.

What is waiting period?

Different insurance policies have different structure under which they operate. However, a common factor that is found in most health insurance policies is the element of waiting period. For all those who are new to this term, waiting period is defined as the amount of time the insurance holder has to wait before they have the right to claim the benefits of the insurance. No claims or coverages can be claimed under this and the policy can only be used properly once the waiting period is over.

Why are waiting periods involved in insurance policies?

Often people are unable to understand why health insurances have waiting periods in their policies. Well, the waiting periods are included to makes sure that the policy holders do not take advantage of the insurer. The main purpose of the waiting period is to make sure that people do not use the insurance policy for some health problem that they had recently.

The preexisting health condition is some problem that the insurance holder is facing before they actually applied for the insurance. This obviously makes it unfair for the insurance policy in itself. For example, if someone is facing a back pain from sometime and is undergoing a physiotherapy session on a regular basis. Hence, it is important that people are not allowed to utilize the insurance policy from the scratch. However, there are some policies that do not have waiting periods under certain conditions. Learn more about health insurance with no waiting periods by visiting out website.

Types of waiting periods

Let’s have a look at some of the common waiting periods that exist.

  1. Initial waiting period: The initial waiting period states that the insurance policy is only bound to cover those medical expenses that have been due to some accidents or injuries in the initial period. If the insurance holder is suffering from minor sickness, then the insurance policy will not cover that cost.
  2. Disease specific waiting period: In case the insurance holder is suffering from a pre existing health disease or illness, then the insurance policy will not cover any medical expenses or bills that are associated to it. This will be decided before the insurance policy begins.
  3. Pre existing conditions waiting period: Similar to the 2nd policy, this policy also makes sure that incase the patient suffers from any disease at the time of arrival of the policy, it will not be covered under the policy claim.

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