A waiting period in a health insurance policy is the specified time period during which the insured person cannot make a claim. If a claim is made, the health insurance company will reject it. There are several types of waiting periods, including the initial waiting period, pre-existing illness waiting period, specified illness waiting period, maternity waiting period, and critical illness waiting period.
The initial waiting period is usually 30 days, starting on the date the insurance policy is purchased. During this period, the insured person cannot file any claim. The pre-existing illness waiting period is usually 12 to 36 months, and the specified illness waiting period is usually two years. The maternity waiting period is usually 9 to 36 months, and the critical illness waiting period is usually 90 days.
To manage waiting periods better, it is recommended to buy a health insurance plan early in life, continue your health insurance policy without any breaks, and read your policy document carefully. Understanding the policy terms will help you make the most of your health insurance policy and avoid claim rejections and disappointment.
It is also essential to note that in employer-sponsored group health insurance plans, the waiting periods usually don't apply. When an individual ports a health insurance policy from one insurer to another, they are usually allowed to carry forward the waiting periods that have already been completed with the earlier insurer.
