What is the buyback P.E.D. in health insurance?

The rising cost of health insurance is a major burden on many families and individuals. Fortunately, the buyback Pre-Existing Diseases (P.E.D.) plan is an option for those who want to save money and reduce the waiting period for the pre-existing disease and get quality coverage for the treatment.

A buyback pre-existing disease (PED) is an optional cover in health insurance.  It allows policyholders to reduce the waiting period for the pre-existing diseases.  Under a buyback P.E.D cover, policyholders can pay an additional premium to avail coverage for medical conditions early without waiting for their policy’s waiting period to expire.

In general, most of the Health Insurance companies hold coverage for Pre-existing medical conditions/ diseases until the completion of the waiting period.

Some Insurance company does not have the optional cover like buy back P.E.D and in such cases, policyholders have to be patient until the expiry of the waiting period of their policy. 

The terms and conditions of a buyback pre-existing disease policy will specify which pre-existing conditions are covered and how much the policyholder will need to pay in additional premiums.

Policyholders should carefully review the policy to understand what is and isn’t covered and ensure they are getting the protection they need.

In some circumstances, policyholders may be eligible to purchase buyback PED cover even if a pre-existing condition has already been identified. Depending on the terms and conditions of the insurance, this might offer coverage for the condition.

Policyholders should carefully consider whether a buyback pre-existing disease cover is the right option for their needs. By understanding their health insurance policy and the options available for pre-existing conditions, policyholders can make informed decisions about their healthcare and get the protection they need.

Policyholders should take the time to carefully review their policies and consult with a healthcare professional or insurance agent to understand their options and choose the best option for their needs.

Summing up

In simple words, Star Comprehensive Insurance Policy offers complete health care to you and your entire family, as the policy is available in both individual and floater basics. The extensive coverage of Star Comprehensive Insurance Policy makes your life stress free.

Star Comprehensive Insurance Policy has a waiting period of 36 months for pre-existing diseases to get covered. This can be mitigated to 12 months if the policyholder buys an optional cover of buyback pre-existing disease (P.E.D). However, this can be subjected to the terms and conditions of the policy.

For more details regarding the policy, visit the official website of Star Health.

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