In past I have written about Top 10 common exclusions in health insurance policies, In this post I would like to bring to your notice about the #waiting #period in any health insurance policy. With series of new and old health cover plans in this category from basic to elite health plans, health insurance companies design the health covers keeping in mind the cost it needs to bear the risk. More the risk for the company more will be the premium for the product. Companies decides health insurance rates depending on the health cover as well as the individual’s health profile. So, while buying a health policy, choosing the cheapest option available may leave you in a lurch as it may have maximum exclusions and waiting period. Unlike features, exclusions and waiting periods are stuffed in the terms and conditions section and only available in the download section at the bottom of the insurer website. Pull that out.
Waiting period for maternity cover – Many insurance policy doesn’t cover maternity in the benefits list as it is not an emergency. However, few company offers it as fixed benefit plan as an additional option within the health policy fir extra premium. However, maternity benefits plan have a waiting period of 9 months to 48 months. So, buying policy early in life can help get this benefit as well.