INCOME TAX19 Sept 2026
Unlimited health insurance explained: Exclusions, waiting periods - 5 things you must check before buying a policy | Mint
Unlimited health insurance rarely covers everything. The 'unlimited' tag usually applies only to the total sum insured, not the whole scope of care. Exclusions, waiting periods, deductibles, co-payments and sub-limits still apply. Insurers must list these in the Customer Information Sheet required by IRDAI. Check these terms carefully, especially pre-existing disease waiting periods, before you buy a policy.
Key Statutory Highlights
- An unlimited sum insured can be useful for very high treatment costs or multiple claims in a year, but it does not override other policy conditions.
- The Insurance Regulatory and Development Authority of India (IRDAI) requires insurers to disclose coverage, exclusions, sub-limits, deductibles and waiting periods in the Customer Information Sheet.
- IRDAI's current health insurance information states the maximum waiting period should not exceed 36 months, so buying unlimited cover just before planned treatment may not cover the full cost.
Actionable Advice for Taxpayers / Founders:Before buying, read the Customer Information Sheet and check exclusions, waiting periods, deductibles and co-payments; ask your insurer or adviser whether add-ons are needed for benefits like outpatient or homecare treatment.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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