NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Non-Life Insurance Products
Under a health indemnity policy, the waiting period for pre-existing diseases is best described as:
A waiting period is the initial duration after policy inception during which claims for specified conditions, such as pre-existing diseases, are not payable. Cover for those conditions begins only after it ends, so it is not a settlement timeline.
- AA period during which claims for specified conditions are not payable from the policy inception or enhancementCorrect
- BA period after each claim when premium is waived
- CThe time insurer takes to settle a claim
- DThe period after which the policy lapses automatically
Explanation
Waiting periods exclude cover for specified conditions, such as pre-existing diseases, for an initial period after inception. They are not about claim settlement time or premium waiver.
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