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Coverage Gap

Definition

A period when you might not have insurance protection in place. Being aware of gaps helps you plan and secure continuous coverage.

What to consider

  • Review policy terms before applying.
  • Understand which conditions are excluded.
  • Consider waiting periods or alternative options.

Real world scenarios

  • A patient with a long-term illness found that her new policy excluded pre-existing conditions.
  • An individual was denied coverage for a condition listed as pre-existing on his application.
  • A policy clearly stated a pre-existing condition exclusion, affecting the treatment costs.

Related terms

Data Breach Response Fund
Income Protection Fund
Insurance Pricing Model
Protection Fund
Policyholder Dividend

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Insurance & Financial Protection
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