The pertinent aim of a health insurance policy is to offer financial coverage in case of a medical emergency. While the health crisis remains unpredictable and inevitable, having maximum coverage is something you can plan. People with pre-existing diseases (PED) are at risk of extra health care needs, and so, in such cases, having extensive health coverage is a wise choice. A health plan with a high sum insured, maximum coverage, PED cover, affordable premium rates, and easy claim settlement is what makes it ideal. Care Supreme health insurance is one such health plan that offers a sum insured of up to ₹1 crore with pre-existing illness cover.
Usually, pre-existing diseases have a waiting period, but with certain additional covers, you can lower the PED waiting period. This article will help you understand how you can customise pre-existing diseases with the help of suitable add-ons. Read on to know more.
Instant Cover for Zero Waiting Period
Instant cover is an additional cover that you can purchase with your base health insurance plan- Care Supreme. Being an additional cover, instant cover charges you a nominal additional premium. Let's understand- what is instant cover in Care Health Insurance?
Instant cover add-on aims to lower the PED waiting period. The standard waiting period for pre-existing diseases is 36 months in case of a continued active plan. However, if you wish to bring down this countdown to 30 days, you can invest in Instant Cover Rider. The initial waiting period for raising any claim is 30 days. This means you can raise a medical claim from the 31st day of the policy purchase. By investing in instant cover, the waiting period for pre-existing diseases also comes down to 30 days. So, by the 31st day of the policy, you can raise a claim for pre-existing diseases.
PED Modification for better Coverage
Care Supreme Health Plan has various additional covers to offer. Another popular rider is PED (pre-existing diseases) modification. As discussed above, additional cover charges you an additional premium. However, these make nominal increases in the premium, so you don't have to make a significant shift in your premium pay.
As the name suggests, the PED modification add-on cover helps you alter the terms and conditions of pre-existing diseases. Under the Care Supreme health plan, if you opt for a PED modification add-on, the waiting period for pre-existing diseases is reduced. Depending on the chosen sum insured and the PED, the modifications are done. It is primarily a PED waiver that reduces the PED waiting period from 36 months to 1/2 years or less. For more clarity, connect with an executive at Care Health Insurance.
Differences between Instant Cover and PED Modification
So far, you have read about two types of riders that can help customise the PED waiting period; instant cover and PED modification. Now, let's understand what is PED waiver in insurance by going through the differences between these two additional covers:
| PED Modification |
Instant Cover |
| PED modification is an add-on cover that reduces the PED waiting period |
Instant cover is an add-on cover that helps waive the PED waiting period |
| With PED modification, the PED waiting period of 36 months is reduced to 1/2/3 years as per the chosen plan |
Instant cover waives off the entire PED waiting period |
| Depending on the PED and the sum insured plan, a 1/2/3 year PED waiting period is termed instead of 4 years |
Instant cover allows the insured to raise a claim for PED after 30 days of initial waiting period |
| PED modification allows a reduction in the waiting period for pre-existing diseases and not a PED waiver |
Instant cover can also be termed as a PED waiver as it waives off the PED waiting period completely |
Which is better: Instant Cover or PED Modification?
After going through the table above, you may have understood what is PED waiver and the differences between the two riders of Care Supreme: instant cover and PED modification. Since both riders aim to reduce the waiting period for pre-existing diseases, one may get confused as to which one to opt for.
On the one hand, instant cover is a PED waiver, which means, there is no longer any waiting period for a pre-existing disease and you can raise a claim after 30 days of the initial waiting period. So, for someone looking for a plan with zero waiting period for PEDs, instant cover can be a great choice.
On the other hand, PED modification is not a PED waiting period waiver, but it only reduces the PED waiting period. The basic waiting period for a pre-existing disease is 4 years. However, with the PED modification add-on, you can bring down this 4 years of waiting period to 1/2/3 years, as per the chosen plan. So, someone who is not looking for an immediate PED cover but wants to reduce the 4 years of long waiting period, can invest in a PED modification rider.
Both the add-on covers have their benefits and features to offer. To choose the best option for yourself, it is best to analyse your premium budget and the healthcare requirements. People with PEDs who are doing fine may not have an immediate need for PED coverage compared to those who are at a higher risk of immediate medical care.
Concluding Lines
Pre-existing diseases like asthma, hypertension, and diabetes have become common ailments in adults. In such a scenario, having only the base cover of a health plan may not be sufficient for everyone. For elderly people who are suffering such lifestyle diseases or any other ailment, having comprehensive coverage can make a huge difference. A single hospitalisation can wipe off a major chunk of your savings. To avoid such a situation, you may invest in suitable add-on covers to bring down the PED waiting period so you can have immediate health coverage available. With Care Health Insurance, you get the riders at a nominal premium that helps customise your health plan as per your needs.
>> Also Read: Learn the Waiting Period in Health Insurance and Its Types
Disclaimers: All plan features, benefits, coverage, and claims underwriting are subject to policy terms and conditions. Kindly refer to the brochure, sales prospectus, and policy documents carefully.
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