Square Insurance

When you purchase a health insurance policy, you expect it to support you during medical emergencies. But did you know there is a waiting period during which some pre-existing health conditions may not be covered right away? This waiting phase is known as the moratorium period. The moratorium period in health insurance refers to the time during which claims for pre-existing health issues are not accepted. If your policy is still within this period, the insurance company will not cover treatment costs for those conditions. Let’s take a closer look at what this means and how it works. What is the Moratorium Period in Health Insurance? The moratorium period refers to a specified timeframe after which insurers can no longer deny claims related to pre-existing conditions, except in cases of proven fraud or deliberate misrepresentation. This rule encourages policyholders to honestly disclose their medical history when applying for coverage. From April 1, 2024, the IRDAI (Insurance Reg...

Introduction   Buy health insurance wisely, because it is one of the most important financial products you can purchase in today’s world. With rising healthcare costs, unpredictable lifestyles, and the growing risk of lifestyle diseases, having the right health insurance plan is no longer optional—it’s a necessity. In India, medical expenses are increasing at a pace faster than inflation, and a single hospitalization can wipe out years of savings. However, choosing the right health insurance policy can be confusing due to the wide range of options available. Before you buy health insurance , it’s essential to understand certain key aspects that will help you make an informed decision. This article covers everything you need to know before buying health insurance in India 1. Why Health Insurance is Essential in India Rising Medical Costs : Hospitalization, surgeries, and even basic treatments are becoming more expensive each year. Lifestyle Diseases : Diabetes, hyperte...