Digit Insurance announced that it will start offering one of the industry’s lowest waiting periods – of one year – for pre-existing diseases and specific illnesses. According to the press release, “Specific illnesses typically have a waiting period of two years, while pre-existing diseases may have a waiting period of up to four years. The offering is aimed at ensuring that more people can make a claim for hospitalization related to pre-existing illnesses or conditions and specific illnesses instead of waiting for longer periods of up to four years.”
Most common specific illnesses like arthritis, gastric and duodenal erosions/ulcers, cirrhosis of liver, fibroids, ovarian cyst, haemorrhoids, fissures, etc, which typically have a waiting period of two years, will now be covered after a waiting period of one year.
As previously prevalent, the insurer, however, may ask for a medical test on a case-to-case basis before issuing a policy. Also, the policyholder will need to declare all pre-existing diseases, conditions, and symptoms at the time of buying the policy as the claim may otherwise be rejected in case any of the information is concealed at the time of issuing the policy.
