Why are there waiting periods? Why are there waiting periods?

OSHCglobal - What is a waiting period? Why are there waiting periods? See more information as belows:

𝙒𝙝𝙖𝙩 𝙖 𝙬𝙖𝙞𝙩𝙞𝙣𝙜 𝙥𝙚𝙧𝙞𝙤𝙙?

Before you can use it for various treatments or services.

If you’re not sure if you’ve served your waiting period, it’s always best to check with your insurer to make sure you’re covered.

The following standard waiting periods apply for hospital cover

𝗪𝗵𝘆 𝗮𝗿𝗲 𝘁𝗵𝗲𝗿𝗲 𝘄𝗮𝗶𝘁𝗶𝗻𝗴 𝗽𝗲𝗿𝗶𝗼𝗱𝘀?

Waiting periods are in place to protect both customers and health insurers. By having a ‘waiting period’, people are not able to make a large claim shortly after joining, and then drop insurance straight after.

It makes it fairer, because the price of each type of cover changes based on the claims for all customers in a state on a particular type of cover.

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