Health Insurance Plans with No Waiting Period in India

Health insurance is mandatory for every individual and household. Getting the best health insurance plan automatically means mental peace and financial security for future illnesses and their treatment. However, many health insurance plans have something called a waiting period. Knowing more about this aspect is crucial before finalizing any health insurance policy for yourself. 

Waiting Period and its Implications in Health Insurance

A waiting period is the length of time that you have to wait for cover, before getting the actual benefits of any health insurance plan. This duration is worked out from the day of the commencement of your health insurance policy and is dependent upon the insurance company and also various health ailments/diseases based on the terms and conditions of the policy in question. 

There is a pre-fixed waiting period for almost all types of health issues and plan types along with taking factors like medical history and the policy holder’s age into account. Filing a claim prior to the waiting period will lead to the rejection of the same by the insurance company as well. In this context, are there health insurance plans with no waiting periods? Here’s finding out! 

Types of Waiting Periods in Health Insurance

Every health insurance policy has diverse waiting periods that may change across companies/insurers. These include the following: 

• The Basic Waiting Period– This is applicable for each and every policyholder. This is mostly the first 30 days after buying the policy. Hence, you should clear the common misconception about being financially covered from day one of your policy. 
• Waiting Periods for Pre-Existing Diseases- If the policyholder suffers from any pre-existing ailment or disease, then there is a waiting period before he or she can get coverage for treatments or hospitalization pertaining to the same. This duration is usually between one and four years. 
• Waiting Periods for Specific Ailments– There are often waiting periods imposed by insurance companies for fixed durations. These range between one to four years on average. 

Insurance companies may sometimes have other waiting periods for specific medical conditions and health check-ups for policyholders. There are several factors influencing these tenures including the medical history, plan type, add-ons and other benefits and so on. 

Is it possible to get health insurance coverage with no waiting period? 

Waiting period clauses are contained in policies offered by several health insurance companies. There is a zero-waiting period only in two scenarios: 

1. If the policyholder requires urgent and emergency treatment/hospitalization due to any injury or accident. 
2. If the policyholder has already chosen a pre-existing disease coverage which is operational from the beginning.

This answers your question about getting health insurance coverage for pre-existing diseases with no waiting period. It is possible with the right add-on or you have to go through a specific waiting period before being eligible to claim financial coverage for treatment. Those suffering due to accidents and needing emergency procedures will get health insurance with no waiting period on hospitals and other heads. However, getting financial coverage for any pre-existing condition is usually possible only after the waiting period is over.

Someone buying a strategic health insurance policy that covers pre-existing ailments will not have to go through any waiting period in some cases as well. This facility is given by several insurance companies and you have to purchase the same by paying extra. For other scenarios, you will have to be patient and cover the standard tenure of the waiting period before filing any claim in relation to the same. 

Why does Health Insurance come with Waiting Periods? 

Waiting periods are beneficial for insurance companies since they help bypass any fraudulent/false policyholder claims. Several people often buy policies after diagnosis of severe medical ailments while many often purchase plans after finding out the costly nature of their medical treatments or surgeries. To bypass these scenarios, insurance companies have waiting periods included in their policies. 

Yet, many individuals with pre-existing ailments may swiftly require financial coverage although they suffer due to lengthy waiting periods. In such cases, choosing pre-existing disease coverage/add-ons can be beneficial from the outset. One should plan very carefully before selecting any insurance policy. 

What should you do about the waiting period in Health Insurance Plans?

Go for a health insurance plan with lower waiting period. Or else, you can choose an add-on that will cover pre-existing ailments if that is what your situation entails. It all depends upon your circumstances. Those who are young while purchasing their policies will find that they can swiftly cover the initial few years of waiting periods and avail of coverage later on when they require it the most. You should always go for a plan with a minimal waiting period in order to be mentally and financially secure regarding treatment and hospitalization costs. It ultimately boils down to purchasing health insurance at an early age and stage in life. This will not only help you avoid these issues, but it will also help you save on premium costs with more coverage and benefits as well.