Health Insurance Plans with No Waiting Period in India

Health Insurance Plans in India with No Waiting Period?

We know that waiting period is a part and parcel of a health insurance policy. However, do you know that you can avail no-wait health insurance policy or with a minimum waiting period? Let’s learn about no waiting period health insurance plans.

The “Waiting Period” is among the key things that are considered while comparing health plans. It is a normal term that we come across while buying health plans.  So, what is a waiting period in health insurance? A waiting period is the duration of time that a policyholder must wait before making any insurance claim for healthcare expenses. It is a regular feature of almost all insurance companies in the country.

However, there is a possibility of buying no-wait health insurance policy or with a minimum waiting period. And this primarily depends on the insurer whom you have bought the policy from. Let us learn more about this clause in this blog.

Meaning of Waiting Period in Health Insurance Policy

As discussed above, waiting period refers to the time period that an insured needs to wait before he/she could avail the benefits of the health insurance plan that the individual has bought. The waiting period starts from the first day of your policy and it ends as per the insurer’s policy terms and conditions depending on the health issues of the insured.

So, the insurer decides the waiting period as per a number of things such as:

• Health condition of the insured
• Type of plan availed by the insured
• Age of the insured, and
• Medical history of the insured

If any claims are made by the insured before the end of the waiting period, the insurer denies such claims.

Different Kinds of Waiting Periods in Health Insurance Policy

Waiting period of an insurance policy depends on the terms of the insurance company and might vary accordingly. Among the various health insurance waiting periods, there are namely;

• Initial Waiting Period
• Waiting Period for pre-existing diseases
• Waiting Period for specific diseases, and
• Waiting Period for availing maternity benefits

Now, the initial waiting period usually lasts up to a month or 30 days.  The Waiting Period for pre-existing diseases ranges from one year to four years depending on the insurer. Similarly, the specific waiting period in health insurance also ranges from one year to four years as per the health plan. In case of maternity related waiting periods, it again ranges from one year to four years.

Further, some insurers might levy an additional 1 or 2 years waiting period in health insurance for some particular health concerns, etc. In such cases, the period would depend on several factors like pre-existing diseases that the insured has, his/her state of health, type of plan opted for, add-on protection opted for, and so on.

Is there any Health Insurance Plan available in India with No Waiting Period?

Although, most of the companies offering health insurance in India do have a clause of waiting period in their health plans. However, you can expect a no-wait health insurance policy only in two of the below conditions:

• If the insured required urgent hospitalization because of an accident
• If the insured has already opted for an add-on protection for pre-existing disease that covers the individual from day 1.

So, if the insured requires any immediate medical aid like organ transplant due to accident, he/she can avail that under the health plan, but the same will not be provided by the insurer if the insured required it as part of a pre-existing disease. Likewise, if the policyholder buys a health plan with pre-existing diseases coverage, he/she might be able to avail the benefits of the health plan without considering the waiting period.  However, you have to add this feature by paying an extra cost.

Besides the above two situations you need to complete the waiting period in health insurance for all the other cases before you could avail the benefits of your insurance.

Why is the Waiting Period levied on Health Insurance?

aiting periods are levied to avoid any frauds or false claims made by policyholders. Before the clause of waiting period was introduced, many policyholders misused health plans by buying a policy only when they are diagnosed with an ailment. People also  bought policies just to pay for high cost surgeries as and when required. So, the waiting period was introduced to avoid such misuses or unethical practices.

However, people can buy a cover for PED (pre-existing disease) in case they want to avail any urgent medical need, especially those already suffering from pre-existing diseases.