A waiting period is the time after policy purchase during which certain claims are not payable. The initial waiting period is typically 30 days for all illnesses except accidents. Pre-existing diseases (like diabetes or hypertension) generally have a waiting period of 2 to 4 years depending on the insurer. Specific illnesses such as cataracts, hernia, or knee replacement often have a 1 to 2 year waiting period. Choosing a policy with shorter waiting periods is often worth the slightly higher premium, especially if you have pre-existing conditions.

The Claim Settlement Ratio is the percentage of total claims an insurer paid out in a financial year. For example, a CSR of 98% means 98 out of every 100 claims were settled. It is one of the most important indicators of insurer reliability, a cheap premium from an insurer with a poor CSR is a false economy. IRDAI publishes annual CSR data for all registered insurers. On Policy Kholo, we display the CSR of every recommended insurer upfront so you can compare it alongside the premium.

Yes. A Family Floater health insurance plan covers you, your spouse, and dependent children under a single sum insured, which is typically more cost-effective than buying individual plans for each member. However, the entire sum insured is shared, so if one member makes a large claim, others have reduced cover for that year. For senior citizen parents, a separate senior citizen health plan is usually recommended as it offers more relevant benefits at an appropriate premium.

Yes. Under Section 80D of the Income Tax Act, you can claim a deduction of up to ₹25,000 per year on premiums paid for yourself, your spouse, and dependent children. An additional deduction of up to ₹25,000 (or ₹50,000 if they are senior citizens) is available for premiums paid for your parents. This means a total potential deduction of ₹75,000 if your parents are senior citizens, making health insurance both a protection tool and a meaningful tax-saving instrument.