With the cost of health insurance rising consistently every year, a health insurance policy has become mandatory. However, health insurance comes with its own set of terms and conditions and an important feature of this policy is the moratorium period. Moratorium period is a term in a health insurance policy which indicates the time period where the policyholder will not be covered for any pre-existing illness in spite of having a health insurance policy. This is also known as the waiting period. Let us look at the moratorium period in more detail in this blog. How does the moratorium period work? When you decide to buy a health insurance policy, you will be required to fill a questionnaire by the insurance company where you will have to disclose information about any history of illnesses or medical conditions you may have. If any of your responses fall under the category of pre-existing illness, the insurer will ask you to wait for the...