NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Basics of Insurance
Under a health insurance policy, a 'waiting period' for pre-existing diseases refers to the:
The waiting period for pre-existing diseases is the initial period after the policy starts during which claims arising from those conditions are not payable. Only after it expires does cover for them begin; it is distinct from claim settlement time or grace periods.
- APeriod after the policy start during which claims for such conditions are not payableCorrect
- BTime taken by the insurer to settle a claim
- CPeriod within which the insured must report a claim
- DInterval between renewal notice and policy lapse
Explanation
A waiting period is a time from policy inception during which specified conditions, such as pre-existing diseases, are not covered. Claim settlement time, intimation window and renewal grace are different concepts.
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