It is the time that must pass before certain conditions can be claimed. Health policies typically have an initial period of around 30 days covering everything except accidents, specific waiting periods of one to two years for listed conditions, and a longer period for pre-existing conditions. The exact periods are stated in your policy schedule.
Information on this website is educational and advisory in nature. Insurance products, benefits, exclusions, waiting periods and claim outcomes are subject to the terms and conditions of the respective insurer's policy document and applicable IRDAI regulations. Please read the policy wording carefully before concluding a sale.
Related reading
Financial Planning
The Annual Insurance Review: Fifteen Minutes That Prevents Most Failures
Cover does not fail dramatically. It drifts quietly out of date.
Financial Planning
Retirement Planning: The Second Decision Matters More Than the First
Building the corpus takes thirty years. Converting it into income takes an afternoon — and it is irreversible.
Business Insurance
Cyber Insurance Explained for Businesses That Do Not Feel Like Targets
Attackers do not choose targets by size. They choose by opportunity.