NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Non-Life Insurance Products
In a standard health insurance policy, a 'waiting period' for pre-existing diseases means that:
A waiting period for pre-existing diseases means claims for those conditions are not payable until the policyholder has completed the stated period of continuous coverage. It does not delay all claim settlements, prevent renewal or waive premium.
- AClaims for the specified pre-existing conditions are not payable until the stated period of continuous coverage is completedCorrect
- BThe insurer must settle every claim only after a fixed number of days from hospital discharge
- CThe policyholder cannot renew the policy until the waiting period ends
- DThe premium is waived during the initial period of the policy
Explanation
A waiting period is a period of continuous coverage that must run before claims for specified pre-existing conditions become payable. It does not delay settlement of all claims, bar renewal, or waive premium.
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