• A Guide to Waiting Period & Survival Period

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    You’ve bought what appears to be an awesome new insurance policy from a man in a suit who refused to stop smiling at you. He probably didn’t answer any of your questions to the point or explain any of the fine print that could eventually lead to your insurance policy being rendered useless. That’s right, there are clauses in your policy that affect the possibility of your receiving any benefit right from day 1.

    Insurance companies today run like any other business, and having to give you a promised benefit is an activity that would cost the business money. No good business lets go of its money unless it absolutely has to, and unless it has exhausted all options of saving itself (legally) from the liability of having to pay you. Always be aware that insurance companies will do everything in their power to keep from paying you what’s due to you.

    Read your policy documents thoroughly and don’t ignore the fine print in sections marked “waiting period”, “survival period” or “exclusions”. Most of the big players will exhaust all legal clauses in their policy document before reluctantly parting from their money and paying it to you as a benefit. Any clause you find that you don’t like can, and should, be renegotiated with the company. Many insurers have different clauses, and some of them actually want to help you out and are a benefit to the community.

    Here’s some of the fine print relating to “Waiting Period” clauses:

    • All insurance policies come with a waiting period, which is basically a length of time in which you cannot claim any benefit from the insurance policy. Whatever happens to you, you have to wait for the waiting period to get over before you can make any claims and try to get any benefit.
    • There are three types of waiting periods – initial waiting period, pre-existing ailment waiting period and disease specific waiting period:
    • Types:
      1. Initial waiting period: Generally, if you fall sick or are hospitalised within 30-90 days (and in some cases 180 days) from the start of your policy, you will receive absolutely no help from the insurer whatsoever. The insurance policy is literally useless during this initial waiting period, except in the case of hospitalization or medical expenses arising due to an accident.
      2. Pre-existing ailment waiting period: If you have a disease or adverse medical condition that was present before, or at the time of, taking the insurance policy – you will not be covered for any hospitalization expenses that occur as a result of this “pre-existing ailment”. The waiting period for this clause could be anywhere from a few months to a few years (or many years) – depending on the type of medical condition you have and the insurer you choose.
      3. Disease-specific waiting period: Hospitalization expenses that arise out of – or can be traced back to – a list of pre-specified diseases will not be covered under your health insurance policy. What does that mean? It means that insurers will give you a list of diseases that, if contracted, will not be eligible for a claim. This waiting period also lasts for around 2 years after commencement of the policy. Common diseases in this list include (but are not limited to) hypertension, piles, hernia, ovarian diseases and diabetes.
    Waiting-Period-&-Survival-Period-in-Health-Insurance

    You have to fall the right amount of ill, with the right disease, at the right time, in the right hospital, under the right conditions and circumstances and inform the insurer at the right time to be eligible for any benefit. The insurance company will make sure of that. Make sure you read, and re-read all your policy documents and re-negotiate with your insurer until you are satisfied.

    Here’s what’s written between the lines with regard to “Survival Period” clauses:

    • As gruesome and pitiable as this clause sounds, it literally means that in order to receive any benefit whatsoever from your insurer – you must survive for a certain period of time after being diagnosed by a critical illness.
    • Mostly applies to critical illness policies.
    • There are three primary factors that decide the length of the waiting period – the disease, the insurer and the policy.
    • This waiting period is in addition to the regular waiting period that’s mentioned above.
    • Insurer will pay out a lump sum of money if you manage to survive the waiting period – and that money can then be used for treatment, or if it’s too late for treatment – your last vacation. Really, the benefit amount can be used for any purpose.

    The fact that these clauses exist is a sad reminder of the power of the almighty dollar (or in this case, rupee). Even large organizations that claim to look after your family, or provide an umbrella under which you’ll be “protected” from the harsh realities of the world change their tone when it comes time to honour their claims. Insurers will scrutinize every clause in their policies looking for some aspect of your particular case that will relieve them of their legal obligation to pay you the benefit. Read and scrutinize every aspect of your policy documents and compare between insurers before taking a decision on one. Also research the claim to settlement ratios and claim honour ratios of the insurers you’re planning on taking a policy from.

    GST rate of 18% applicable for all financial services effective July 1, 2017.

    Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

    A Guide to Waiting Period & Survival Period Reviews

  • Page 1 of 50 1 2 3 4 5
    • Apollo Munich Health Insurance
      "The Best"
      0.5 5.0/5 "Blown Away!"
      Since I'm working with health insurance. It is easy to claim in Apollo Munich. The best hospital list covered in this policy. The best health insurance company in PAN India. In my company, they are paying the insurance premium for me and my family.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 14, 2018
    • HDFC Ergo Health Insurance
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I've a health insurance policy with the HDFC Ergo. I pay a premium of 6100 Per year, I do not have any claim experience with the policy and it offers full coverage for my entire family. They offer a coverage 2 lacs annually which is pretty good for me. Overall it has been a good experience with the features of the policy. .
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jun 14, 2018
    • Bajaj Allianz Health Insurance
      "Good Health Insurance policy"
      0.5 5.0/5 "Blown Away!"
      So far i have never claim the health insurance. I can claim upto 7 lakhs. I have taken this insurance policy for me and dependent. The employer take care of the premium amount. I have never contact the customer care. Almost most of the hospital has been covered in this health insurance
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 14, 2018
    • Universal Sompo Health Insurance
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have a health insurance policy taken from Universal Sompo, it was the best deal I came across when I was looking for the policy, the premium amount that I paid was quite reasonable and not too high, the sum assured amount was also good. I never got chance to take the services of this policy I have no claim experience from them so far.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 14, 2018
    • Universal Sompo Health Insurance
      "Best Health insurance policy"
      0.5 5.0/5 "Blown Away!"
      I have taken this policy for the first time. I have not claimed the policy so far. I have paid around for Rs.8500 as premium. It family based health insurance policy. I can claim upto 5 lakhs. Cashless treatment is available. There is no pre-existing offer is available. I have taken this policy last month. Most of the hospitals are covered in this policy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 14, 2018
    • review Health Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      It is a health insurance policy from HDFC. Accidental benefits are there. If i admit in a hospital, i can claim for that also. I took this policy for my whole family. I'm paying Rs. 4500 for every year. I can claim upto 3 lakhs in a year. If i renew the policy without any claim, they will offer some bonus points. I never claimed this policy so far. Cashless treatment is available.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 13, 2018
    • Royal Sundaram Health Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I got the health insurance policy from the ROYAL SUNDARAM GENERAL INSURANCE company and i have got it around 5 years. This policy covers 4members in my family and it has the medical coverage amount of Rs,3,00,000 . I pay the premium amount of Rs,8,000 to renew the policy every year.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • United India Health Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      Got the health insurance policy from the UNITED INDIA INSURANCE company and I having this policy from past 5 years. The customer support and the response is good with the United India and this policy covers 4 members in the family. This policy has the medical coverage up to Rs,3,00,000 and I pay the premium amount of Rs,10,900 to renew this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • Apollo Munich Health Insurance
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I've a health insurance policy with the Apollo Munich Insurance company. I pay a premium of 19000, I do not have any claim experience with the policy. Sometimes I make payments via cheque and sometimes online. Overall their services are good even though I never had any claim experience with them.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 12, 2018
    • ICICI Lombard Health Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a health insurance policy with the ICICI Lombard general Insurance company. I am paying a premium 39000 per year. I do not have any claim experience with this policy. So far in terms of the features and benefits it is a recommendable policy to have. I pay the premium online.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 12, 2018
    • Star Health Health Insurance
      "Best Health Insurance policy"
      0.5 5.0/5 "Blown Away!"
      Cashless treatment is available only in cities. In other rural areas, i cannot claim the policy for cashless transaction. In rural side, i have to collect all the bill and claim the policy after i paid my bill. I have claimed the policy once for my father. I used to make the payment of Rs. 7500 for me and any wife. I have already recommended this policy to my friends. I can claim easily and i got the payment as soon as possible if i issue the documents properly.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 12, 2018
    • Bajaj Allianz Health Insurance
      "Best"
      0.5 5.0/5 "Blown Away!"
      I am having the health insurance policy with the Bajaj allianz general insurance company. I would like to say that the coverage value is around three lakh Rupees. Cashless treatment is applicable there, so I have not faced any such claims with them as such.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 12, 2018
    • Star Health Health Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      Got the health insurance policy with the STAR HEALTH & ALLIED INSURANCE company around 3 years ago. This policy covers 4members in my family. This policy has the coverage amount up to Rs,2,00,000 and I am satisfied with it. The medical coverage and the cashless treatment options are good with the Star health insurance policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 12, 2018
    • ICICI Lombard Health Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a health insurance policy with the ICICI Lombard which is provided by the company. The company is paying the premium. It is a policy worth the money and I never had any claim experience with them. I'll have to wait and see how they respond to my claim request in future.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 11, 2018
    • Universal Sompo Health Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a health insurance policy with the Universal Sompo . I pay a premium of 10000 Per year, the coverage is good and I never had any claim experience with the policy overall it is a useful health insurance policy to have.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 09, 2018
    • Star Health Health Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a health insurance policy with the Star Health. We do not have any experience with the policy. Overall service good. My brother handles the payments for this policy. I am not aware of any other details regarding this policy. It offers coverage for the entire family. I never had any issues with the policy and their services.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 08, 2018
    • United India Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my health insured with United India Insurance from last 8 years, i am not aware of the premium amount as the company pays it. I have a coverage value of Rs 1 lakh and that covers spouse and children. I have no claim experience so far from this insurance policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 08, 2018
    • Apollo Munich Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my health insured with Apollo Munich from last 6 months, i am happy with the coverage value of this insurance policy and it is family policy. A premium of Rs 8000 has to be paid for this insurance. I have no claim experience and the coverage value of this insurance is 3 lakhs.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 08, 2018
    • ICICI Lombard Health Insurance
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I've had taken a health insurance policy from the ICICI Lombard. I never had any claim experience with the policy. I'll have to wait and see how they respond to my claim requests in future. So far, I never had any issues with their services till date.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 07, 2018
    • Reliance General Health Insurance
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I've a health insurance policy with the Reliance. I never used this policy for any medical purposes. I've been paying a premium of 11000 per year for the policy. I never had any claim experience with the policy. I see this as a back up fund in case of any medical emergency.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 07, 2018
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