Waiting period in health insurance - What, why and types

What's waiting period in health insurance & group health insurance? Why's there a waiting period and what are the types you should be aware of

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Frequently Asked Questions

Is it possible to reduce waiting periods in health insurance?

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  • By including a copay in your health insurance, the waiting period can easily be reduced. That is, the expenses paid are divided between you and the insurer.
  • Some insurers provide waiting-period waivers. Here, you pay some money to reduce or remove your waiting period.

What is the waiting period for maternity and newborn benefits?

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The waiting period varies from insurer to insurer. In some companies, the maternity and newborn waiting period are from 2 to 4 years.

Is there a waiting period for all health insurance plans?

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Yes, all health insurances come with a waiting period. There are multiple types of waiting periods. Commonly, all policies come with an initial waiting period of 30-60 days. This starts from the day you buy the policy.

Is there a 2-year waiting period for whole life insurance?

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No, generally term life insurance policies don’t have a two-year waiting period. Term life commonly doesn’t have a waiting period at all. However, if a person with an illness has taken life insurance, there may be a waiting period and this is specified by the insurer when a policy is bought.

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