Mediclaim policy is one of the most popular insurances that have the capability to offer a multitude of benefits to the policyholder. If you are looking to purchase a proficient Mediclaim plan for yourself and your family, to need to carry out adequate research and comparison to choose the right one. There are numerous best providers like Aditya Birla health insurance, which are well rewarding and has a very smooth claim process.
To help you comprehend the waiting period of the Mediclaim policy, here are all the essential details about it. Keep reading to know more!
How Does it work?
Different parts of health insurance coverage are not active simultaneously. Some policies are activate right away after purchase, while others take some time to take effect. There are waiting periods of three to four years for many medical services and treatments.
By choosing continuous renewal, you may end this waiting time for health insurance and immediately begin receiving benefits from the medical institution without any restrictions. If you want a hassle-free health insurance experience, you can simply opt for the best-selling Aditya Birla health insurance depending on your requirements.
What does a Zero or No Waiting Period mean?
There are just two situations in which there is no waiting period because the majority of health insurance policies include one:
- Emergency medical treatment after an accident
- Pre-existing condition coverage is offer from the start of the insurance
The policyholder may choose medical treatment and submit a claim for the costs even during the initial waiting period in the case of an accident. Similarly, to this, the policyholder can receive benefits immediately if the health plan protects them against pre-existing conditions from the start of the plan. This becomes much easy when you have Aditya Birla health insurance.
How Can Your Health Insurance Policy’s Waiting Period Be Reduce?
By paying an extra premium, you can obtain health insurance with a shorter waiting time. For instance, you can pay an additional fee to the insurer and request a health insurance policy with a shorter waiting period if you already have a pre-existing condition. Depending on the insurance company you choose, the conditions of the waiting time waiver also change.
When a group health insurance policy is change into an individual health insurance plan, the waiting period may also be eliminate in such a situation. Employees can change their employer-issued group health insurance policy into an individual plan and obtain health insurance without a waiting period, according to the Insurance Regulatory Development Authority of India (IRDAI).
This is because they would have previously complied with the requirements of a waiting period for health insurance while the Mediclaim policy was a Group Health Insurance Policy.
Waiting Period for Hospitalization Due to Accidents
Accidents can result in the most unforeseen medical issues and injuries. Due to the unpredictable nature of accidents, none of the health insurers, including Digit, include a waiting time for unintentional hospitalization. In such cases, the Mediclaim policy is a must.
This implies that one may submit an accidental hospitalization claim even a few days after purchasing a new health insurance plan. Here, too, there is no initial waiting time. The Aditya Birla health insurance plan will help you out in situations like these.
Compare online
Choosing the best Mediclaim insurance plan is very important and to do so, you need to analyse it prudently to understand the waiting period and other inclusions. With technological advancements, you can easily compare your insurance policies online to pick out the best one that suits your requirements.
