Just Got Your Insurance Policy? Here's Why You're Not Fully Covered Yet

When a policy is issued, it doesn’t mean all coverage is fully effective immediately. It's important to understand these waiting periods to ensure you're fully access into claims when needed.

understanding your insurance coverage is now easier - we'll break it down to you in to bite-able size.

So, what's a waiting period?

The waiting period ensures that your health is consistent and helps prevent anyone from sneaking in claims for pre-existing conditions or illnesses that haven't been disclosed yet. It's like a little buffer time for your policy to fully kick in.

In general, coverage for death, total permanent disability (TPD), and accidental disability starts as soon as you receive official policy email from insurer.

Types of Waiting Periods

1. Health Insurance (Medical Insurance)

• 30 days: Coverage for all causes.

• 120 days: Coverage for specific illnesses, including:

  • Hypertension, diabetes mellitus, and cardiovascular diseases

  • Tumors, cancers, cysts, nodules, polyps, and stones of the urinary and biliary systems

  • Ear, nose (including sinuses), and throat conditions

  • Hernias, hemorrhoids, fistulae, hydrocele, and varicocele

  • Endometriosis and diseases of the reproductive system

  • Vertebro-spinal disorders (including disc) and knee conditions

But here's some good news - if you have an accidental injury that requires hospital care (like a car accident or a burn from cooking), you're covered immediately.

2. Critical Illness Insurance

• 30 days: Coverage for most illnesses listed in the policy.

• 60 days: Coverage for cancer, heart attack, coronary artery bypass surgery, serious coronary artery disease, and angioplasty.

Other Reasons for Policy Non-Claims or Rejections

There are various other reasons your policy might not be fully claimable or could be rejected. We'll cover these in detail in our next article, so read on!

A Timely Reminder

If you're reading this and you already have an effective policy - congratulations! Time flies, and your waiting period will be over before you know it.

If you don't have coverage yet, maybe this is a sign to get some :) You don't want the waiting period to stand in the way of your claims when you need them most.

Not quite sure if you're eligible for certain claims? No worries. Book a 'policy review' appointment with us, and we'll help decipher all the jargon for you in plain, simple terms.

Empower yourself with knowledge and protect yourself with confidence!