masa tunggu
Also called: waiting period
The initial period of the policy during which certain claims cannot yet be filed.
What it means
The waiting period is the initial period after the policy becomes active during which certain benefits cannot yet be claimed. This provision generally applies to certain illnesses or additional benefits, as written in the policy. During the waiting period, premiums are still paid but claims for related conditions are not yet covered. The length of the waiting period differs between products and types of benefits.
Why it matters for families
Families need to know the waiting period so they don't rely on insurance for urgent medical needs early in the policy. If they misunderstand, the family may think they are fully protected when a claim is rejected because it is still within the waiting period. A financial plan for early health costs should still be prepared.
Example
For example, a health policy has a waiting period of several months for certain illnesses. If the family files a surgery claim in the first month, the claim may be rejected according to the terms. Therefore, an emergency fund remains important even with insurance.
Common misunderstanding
Many think the policy immediately covers all illnesses from the first premium payment. The correction: certain benefits only apply after the waiting period ends.