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Waiting Period in Insurance | Meaning & Types

A waiting period is the initial period in a health insurance policy during which some specified treatments or procedures are not covered. Cover on these treatments or procedures becomes active only after the policyholder completes the waiting period under the policy.

Here are some examples of common waiting periods in a health insurance policy.

Initial Waiting Period: Expenses related to treatment of any illness or disease are not covered for the first 30 days from the start of the policy. However, claims arising due to an accident during this period are paid by the insurer.

Waiting Period on Pre-Existing Diseases (PED): Pre-existing diseases and complications arising out of them are not covered during the initial policy years. The waiting period for PEDs is usually 24 months or 36 months, depending on the policy.

Waiting Period on Specified Illnesses: Some specified illnesses which are listed in the policy terms come with a waiting period of 24 months. These are usually slow-growing chronic illnesses, and their treatment can be planned.

Waiting Period on Maternity Benefits: Most health insurance policies covering maternity expenses impose a waiting period on these benefits. This waiting period ranges from 9 months to 4 years, depending on the policy terms. 

Your health insurance policy might impose any other waiting period depending on the features and benefits covered under the policy. Please read the policy document carefully to understand the waiting periods and their implications, the insurer can reject a claim raised during the waiting.

 

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