Zero Waiting Period Health Insurance

Benefits of Zero Waiting Period in Health Insurance

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Today, most companies prefer zero waiting period health insurance policies. Despite this, there are many who wonder what exactly the zero waiting period in the policy is. As the name suggests, the time you need to wait is less when choosing the zero waiting period policies. It is also known as a cooling down period. With zero waiting periods, the insured can avail of the benefits of the insurance policy earlier.

The waiting period in any insurance policy starts from the very first day. In zero waiting period health insurance, you do not need to wait for a specified period of time to reap the benefits. The health policy without waiting periods has plenty of benefits Let us take a look at the prominent benefits of this insurance policy. 

The types of waiting periods in health insurance

Most health insurance policies come with a predetermined waiting period. During this period, no claims are entertained. Most individuals prefer insurance with a lesser waiting period. This enables them to make their insurance claims without prolonging the process. However, let us see some of the types of waiting periods in health insurance. 

Waiting Period with A Pre-Existing Condition

The waiting condition in this health insurance varies according to the illness. The varying insurance time is suitable for the policyholder who has a shorter waiting period for her/his illness. The drawback of the insurance policy is that it may not cover expenses before or during the waiting period

Zero Waiting Period Health Insurance

The zero waiting period insurance policies have gained a lot of traction in recent times. These health insurance policies are beneficial for any individual. This is because the individual does not need to wait for a specific period of time before making a claim. In other words, a claim can be made immediately after the policy has been issued.

The benefits you need to know about zero waiting period insurance

Today, many people do not consider health insurance important. However, after being diagnosed with a health condition they regret not getting health insurance. There are lots of factors that make individuals hesitant to avail of insurance. The long waiting period is one of the crucial reasons for not getting a life insurance policy. 

However, if you are delaying your health insurance policy due to the long waiting period, you have a smart option. The zero waiting period health insurance is the ideal one for you. Let us look at some of the benefits of this insurance policy. 

The low premium charges

Today, individuals below the age of 30 have fewer rates of chronic diseases. However, this does not offer complete assurance on any possible health issues for the age group. The solution here is that people below 30 can avail of health insurance at an earlier stage and choose zero waiting periods.

 This way, these individuals need not wait until diagnosing any possible ailments. Also, zero waiting period health insurance has low premium charges. It is a crucial benefit of availing of the insurance policy without a waiting period. 

The no-claim bonus

The zero waiting period health insurance policy offers the insurer freedom to make claims at any period. Further, the insurer may not make any claims during the initial few years after purchasing her/his insurance. This is beneficial because the insurance with zero waiting periods allows no claim bonus under which the sum insured keeps increasing by a certain percentage every year. It is one of the crucial benefits of zero waiting period health insurance. 

Flexible financial plan

Today, unforeseen events are an inevitable part of life. In such instances, the health insurance policies offer great financial support. Having a health insurance policy handy can protect any insurer from financial burden, especially the zero waiting period health insurance. There are companies that offer a wide range of payment options to choose from, including monthly ones. This means that you do not have to part with a large chunk of money on the go when paying annual subscriptions. You can choose monthly payment plans as well and keep your financial worries to rest.

Tax benefits

Today, many get insurance policies solely for tax benefits. The zero waiting period health insurance is ideal for people looking for tax benefits. The money you spend on the premium can be used as a tax rebate. Exemptions up to Rs. 25,000 can be claimed in a given financial year. Thus, apart from the health benefits you also get tax benefits.

Age limits

There are no age limits when opting for zero waiting period health insurance. You can avail of this health insurance policy at any age and claim the benefits.

The coverage

There is a wide range of coverage options available when opting for zero waiting period health insurance plans. It all depends on the subscription amount being paid. The higher the subscription, the more will be the coverage amount. Further, the insured individual can include her/his family members as well. It is one of the most crucial benefits of zero waiting period health insurance.

If you are looking for a zero waiting period health cover, then make sure that you check out Vital at www.getvital.in.

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