InvestorQ : What are the changes in the waiting periods applicable due to the new policy?
Purvesh made post

What are the changes in the waiting periods applicable due to the new policy?

Answer
image
Radhika Arya answered.
1 month ago
Follow

IRDA has made it explicit that the waiting period for specified diseases like cataract, knee surgery, and others cannot exceed 4 years. Meanwhile, the waiting period for lifestyle diseases like diabetes, hypertension, and Cardiac conditions cannot exceed 90 days. Up until now, the insurer used to keep waiting period for these lifestyle diseases up to 2-4 yrs.

Do note that the waiting period of 90 days is only in case you don’t have these at the time of taking the policy. In case you already have them, then it’s classified as “pre-existing illness” in your case.

2 Views