02-05-2017 03:21 PM
Is there any waiting period after portability of health insurance policy?
03-05-2017 03:17 PM
There are three types of waiting periods in health insurance. The first one is 30 days for fresh policies. The second is for diseases that are covered after a period of 1 or 2 years, such as kidney stones and appendicitis. The third waiting period is of 4 years for pre-existing diseases such as type 2 diabetes, cancer and heart disease. For instance, if you want to port a three-year old policy (after completing 2 years) to a new insurer having the same waiting periods, then waiting periods of duration 30 days and 2 years won’t apply. Only the 4-year waiting period will be applicable. Since you already completed 3 years in the previous policy, you will have to wait for 1 year to file claims for pre-existing conditions.