The waiting period for medical insurance is generally 30 days, and the waiting period for critical illness insurance and life insurance is usually 90- 180 days. The purpose of insurance companies to set the waiting period is mainly to prevent the insured from cheating. For insurance consumers, the shorter the waiting period, the better.
The waiting period of different insurance products is different, and the insurance policies are also very different.
Medical insurance: during the waiting period, the insurance company is usually exempted from liability and will not reimburse the insured for treatment expenses, but the contract will continue to be valid.
Life insurance: If a serious illness or death is diagnosed during the waiting period, the premium will usually be refunded and the insurance contract will be terminated. It should be noted here that deaths caused by accidents are usually not limited by the waiting period.
Critical illness insurance: when a major illness is diagnosed during the waiting period, most insurance companies will cancel the contract and refund the premium, and some insurance companies will cancel the contract but not refund the premium.
What will happen if you don't tell the truth? Look here and you will know: "If you don't tell the truth, can the insurance company not pay for it?" 》
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