Insurance Awareness - Health Insurance
In insurance terminology, the 'waiting period' is best described as:
In insurance terminology, the 'waiting period' is best described as:
easy Q3 of Q15
Step-by-Step Solution
Step 1: Define waiting period
Waiting period is the initial period after policy start when claims for certain illnesses are not payable.Step 2: Eliminate other options
The time allowed to pay premium after due date without penalty is grace period, C is claim processing time, D is free look period.Final Answer:
The period after policy issuance during which claims for certain illnesses are not admissible → Option AQuick Check:
This matches the standard definition of waiting period in insurance.
Quick Trick: Waiting period = no claims for specific illnesses immediately after policy start.
Common Mistakes:
MISTAKES- Confusing waiting period with grace period or free look period.
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