News From Press Mind the waiting period in insurance

Mind the waiting period in insurance

During the cooling off or the initial waiting period, the insurer may not honour any claim except accident-related ones

Mint Oct 6, 2020

To avoid frauds and misuse of health insurance, insurers have a waiting period before they start covering pre-existing diseases (PED) and other specified diseases. The waiting period usually starts right after the cooling period, which usually lasts a month. During the cooling off or the initial waiting period, the insurer may not honour any claim except accident-related ones.

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