Reduction in Specific Illness Waiting Period in Health Insurance

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The waiting period in health insurance denotes the time duration before which specific diseases will not be covered by your health insurance policy. It is a pre-determined period, which is also known as a cooling period.

For example, if your health insurance plan has a cooling period of two months for specific illness coverage, the insurance company will reject any claim made within this period. Keep reading this blog to get a clear overview of specific illness waiting periods in health insurance.

What are the Different Types of Waiting Periods in Health Insurance?

There is a wide array of waiting periods for health insurance, depending on the insurance policy, type of disease, and coverage. Keep reading the blog to explore more about the types.

Waiting period for specific illnesses or diseases

Insurance companies might have a waiting period for varied specific diseases or other medical conditions. Usually, the waiting period ranges between two to four years. However, the duration might change according to the insurance company's policies. Some of the medical conditions, which fall under this cover are ENT disorders, joint replacement surgery, cataracts, etc.

Waiting period for a pre-existing illness

Almost every health insurance plan offers comprehensive pre-existing disease coverage after the completion of the waiting period. If you have a pre-existing disease like high blood pressure, thyroid, etc., this coverage is best for you. During this cooling period, you would not be able to enjoy any pre-existing disease benefits from your insurer.

Initial waiting period

The initial waiting period is the duration after you buy a health plan till the date it starts or is active. Usually, insurance companies set a 30-day cooling period. Within this period, you would not be able to file any kind of claims under your health insurance policy.

Other than these, here are the other types of waiting periods available in health insurance.

Waiting period for accidental hospitalisation
Waiting period for health checkups
Waiting period for maternity cover
Waiting period for critical illness
Waiting period for newborn add-on

Importance of Waiting Period in Health Insurance

One should know that health insurance is based on risk-sharing, just like other insurance types. Your insurance company bears the risk of yours in return for the premium you pay. Health insurance has become a necessity to provide financial backup during unforeseen medical emergencies.

You might wonder why insurance companies levy a waiting period on health insurance plans. To discover why, keep reading.

To avoid chances of any fraud or malpractices by the insured person.
To make sure that the policyholder does not utilise health insurance to cover regular medical costs.
To protect the insurer from any medical risk previously unaccounted for.

Why Should You Check Waiting Periods Before Buying Health Insurance?

While buying health insurance, you must consider a few factors like a waiting period, sum insured, claim process, add-on covers, etc. to ensure optimal medical coverage. Among all the factors, you must look into the insurer's waiting period policy for the following reasons.

Getting detailed knowledge about your health insurance policy is crucial. It will be helpful if you have a clear insight into all the waiting periods associated with varied coverage.
Knowing all the cooling periods beforehand is advisable to ensure approval of claims. If you raise a claim within the waiting period, the insurer will disapprove your claim. It can be distressing and disheartening, so know the terms carefully before buying health insurance.
Many insurance companies waive the cooling period for their policyholders. Before purchasing a health insurance plan, check whether this facility is available by your insurer or not.

Why is ACKO the Best In Terms of Waiting Period in Health Insurance?

ACKO is a digital insurance company. Thanks to technology advancements, the ACKO programme simplifies and accelerates the entire process of raising claims and settling them. Additionally, you will also benefit from a variable premium structure, paperless documentation, and Zero Waiting Period in health insurance plans. The key features of several ACKO health plans are listed below.

Features of ACKO Standard Health Plan

Post-hospitalisation expenses: Up to 120 days
Deductions on claims: Zero
Sum insured: Rs. 10 Lakhs, Rs. 25 Lakhs, Rs. 50 Lakhs, & Rs. 1 Crore
Pre-hospitalisation expenses: Up to 60 days
Cashless hospitalisation: 14,300 + hospitals

Features of ACKO Platinum Health Plan

Pre-hospitalisation expenses: Up to 60 days
Deductions on claims: NIL
Sum insured: Rs. 1 Crore & unlimited
Waiting Period: Zero
Cashless hospitalisation: 14,300+ hospitals
Post-hospitalisation expenses: Up to 120 days

Features of ACKO Platinum Super Top-Up Health Plan

Critical Illness coverage: Yes
Pre-hospitalisation expenses: Yes
Sum insured: Rs. 10L, Rs. 25L, Rs. 50L, Rs. 1 crore, Unlimited
Emergency evacuation coverage: Yes
Cashless hospitalisation: 14,300+ hospitals
Post-hospitalisation expenses: Yes

Enhance your health insurance by exploring these unique benefits
OPD Cover	Cashless Health Insurnce	Room Rent Limit	Unlimited Sum Insured

The Bottom Line

It's time to select a health insurance plan that meets your insurance needs as you know all about the waiting period in health insurance. However, if you purchase a health insurance plan early in life, you won't have to worry too much about the waiting time for medical insurance. You should buy a health plan with no waiting period to keep you and your family safeguarded from any unexpected medical emergencies from day one of purchasing a health insurance plan.

Frequently Asked Questions

Here are some commonly asked questions and answers related to waiting periods in health insurance.

Is it Possible to Reduce the Waiting Period?

The answer to this question is yes. You can ask your insurance company to waive the waiting period. However, you might have to pay an extra premium to avail the waiting period waiver facility.

Are there any tax benefits on health insurance?

In India, premiums paid for health insurance policies are eligible for tax deductions under Section 80D of the Income Tax Act. If you are below 60 years, you can get up to Rs. 25,000 tax deductions whereas, individuals aged 60 years and above can claim up to Rs. 50,000 tax deductions.

What is PED in health insurance?

PED in health insurance stands for Pre-Existing Disease. It refers to any ailment, illness, or condition that the insured individual has before purchasing a health insurance policy.

Are there any health insurance policies without a waiting period?

Yes, some health insurance policies offer coverage without a waiting period. These policies typically come with higher premiums and may have specific eligibility criteria or restrictions. For instance, the ACKO Platinum Health Plan comes with zero waiting periods.

Is it possible to get rid of the waiting period clause in health insurance plans?

It is only possible if the insurer agrees to allow the waiting period clause to be excluded under particular circumstances. If not, you cannot exclude the cooling period clause from your health insurance plan.

_Disclaimer:_{The plans, services, features, processes, and other details mentioned on this page are subject to availability and changes. Please check the applicable policy wordings before making any insurance-related decisions. Feel free to reach out to us at [email protected] for any queries.}