A Quick Look At Health Insurance Waiting Period |
Posted: March 23, 2018 |
The health insurance or a medical insurance policy is an innovative product that offers sufficient financial coverage if you face any unforeseen situation that needs medical assistance. The importance of health insurance has increased because the instances of people making frequent visits to hospitals have gone up as well. Yes, people are forced to live on junk foods, are faced with too much stress, pollution and road accidents are further deteriorating health, and are forced to avail healthcare services. On the other hand, the cost of affording quality healthcare services has also gone up. It means that if you are not financially prepared to handle any urgent medical emergency, it could poke a hole in your savings and assets. That’s where an innovative product in the form of health insurance fits the bill to provide you coverage if you face any urgent medical crisis on your end. A health insurance policy covers all expenses related to your hospitalization, doctors’ costs, room charges, nurse and surgery charges and more. But, after having said that, if you have some pre-existing diseases or ailments, your health insurance policy won’t cover it quickly, because there is a waiting period of 2-4 years. What is a Waiting Period? Suppose if you have inherited any disease from your family or suffering from any diseases since childhood, your heart insurance policy will not have provision to cover it.
Yes, conditions such as high blood pressure, thyroid, diabetes and more are called pre-existing ailments. For analyzing such diseases, health insurance service providers underwrite a medical examination and based on the findings, they decide whether the proposal could be accepted or not. In case the proposal is accepted, a waiting period is advised to the policyholder. Generally, there are two types of waiting periods such as:
To make sure your existing diseases get coverage in your health insurance policy, try to dig deeper into the plan and do a thorough evaluation. You could also go for a policy that offers the coverage and has a lesser waiting period. Alternatively, you could also think of buying the plan early when your disease is yet o start troubling you and when you can still manage it with some inexpensive medicines. Vital Points Related To Waiting Period Under Health Insurance Make a note of these following health insurance waiting period aspects such as:
It is always vital to know the waiting period of online health insurance so that you don’t feel dejected or surprised at the time of submitting a claim request. It is prudent to know your policy inside out to make it work for you without issues.
|
||||||||||||||||
|