Waiting periods in Swiss insurance policies: what are they?
If you are taking out a new insurance policy, check what waiting periods apply – especially in supplemental health insurance. Comparis explains the ins and outs.
25.07.2022
iStock / Memorystockphoto
1. Waiting period: definition
The waiting period, also known as the qualifying period, is very important for insurance companies. It refers to the period of time following the start of insurance during which the insurer will not cover particular benefits. In other words, the waiting period is the time you need to wait before being able to claim all the benefits offered by the policy.
The duration of the waiting period varies, depending on the product and the insurer. Remember therefore to read the fine print before taking out a new insurance policy. This way, you won't get caught out if you have to make a claim or after undergoing medical treatment.
Why do insurers apply waiting periods?
Insurers apply waiting periods in order to protect themselves from misuse. It prevents them from having to pay out excessive amounts for foreseeable events. One example is a mother taking out supplemental insurance for a private hospital ward shortly before giving birth.
2. Types of insurance that include a waiting period
Not all insurance policies have a waiting period. For example, you do not have to wait before making claims under basic health insurance. Waiting periods are often included in the following types of insurance:
Supplemental insurance
Waiting periods are common in supplemental health insurance – for maternity or dental insurance, for instance. Contact your insurer to find out exactly how long the waiting period is.
Loan protection insurance
If you take out a loan or lease, you can protect your payments by taking out loan protection insurance. This type of policy will cover the loan instalments should you become unable to work or unemployed. The waiting period may, however, be several months.
Legal protection insurance
Some legal protection insurers also include a waiting period in their contracts. This is typically between one and three months. However, increasing numbers of insurers choose not to do so.
Life insurance
Waiting periods are often applied to death benefits insurance policies. For example, suicide is only covered three years after the policy start date.
Is there a way to avoid the waiting period?
Some insurance policies allow you to exclude the waiting period from your contract. However, this usually means paying higher premiums. You should therefore carefully work out whether this is worth your while and compare different insurers.
3. Waiting period for supplemental insurance: what to be aware of
Waiting periods are common in supplemental health insurance – but not for all benefits. Expectant mothers in particular should be careful. Many benefits related to maternity are not covered in the first nine to twelve months after the start of the policy. They include:
Free choice of hospital
Birth in a private or semi-private ward
Medicines that are not covered by basic insurance
Alternative treatments (e.g. pregnancy yoga)
Good to know: if you already had supplemental insurance and merely decide to switch, some insurers will waive the waiting period. You will, however, need to provide proof that you had the same cover with the previous insurer.
Waiting periods are also often applied to dental insurance policies. The time periods vary depending on the treatment. Major operations such as prostheses, crowns or treatment of misaligned jaws are not usually covered up to one year after the start of insurance. The waiting period for fillings or root canal treatment is typically six months.
Thinking of having laser eye treatment? Some insurance companies will cover the cost of eye surgery – provided that you have included the add-on for glasses and contact lenses. However, be aware that most insurers apply a waiting period of several years.