Common Health Insurance Myths to be Avoided
One of the most important things you need to focus daily in
your life is health, but it is also the most ignored thing. People often take
their health for granted and do not plan efficiently for unexpected expenses
that may arise due to severe health or medical problems. And this is not just
for yourself, but also for your family members. A good health policy can solve
this problem for you. However, you need to be vigilant enough to have clarity
on the health insurance policy offerings as well as have a sound understanding
of the various nuances involved.
But health insurance is not very well understood in India,
and there are plenty of misconceptions around the same. Let us go through some
of the common myths that people have about medical insurance in
India.
No Health Insurance Required for Young and Healthy People
There is a view floating around with many people that if you
are young and healthy, you do not require a health insurance cover. However,
the truth is that it is the best time to buy a health insurance policy while
you are healthy and young. As you grow older, and with consistent policy
renewals, you will have better claim experiences, whenever the situation
arises. Also, you can have accident cover clubbed together with your health
insurance, and accidents are something that can happen at any age.
Eligibility to All Insurance Policy Benefits from First
Day
You must remember that every health insurance policy comes
with a specific waiting period, during which certain ailments are not covered.
In fact, for pre-existing illnesses which get detected after your policy
starts, you can get the coverage for related expenses only after a minimum of
48 months from the beginning of the policy.
Cheap Policy is Affordable
Many find it difficult to pay the premium of health insurance
policy but have enough money to spend on non-essential items. Such people
try to opt for the cheapest insurance policy that they come across to have a
tick in the box against health insurance cover. But, little do they realise
that such affordable plans have small coverage, plus exclude a lot of benefits.
You come to know about these exclusions only when you make your first claim, by
when it is too late, and you end up spending a lot more from your pocket.
Instead, it makes sense to pay a slightly higher premium every year to cover
yourself for medical emergencies where the expenses could hit the roof.
Complete Cost Reimbursement from Insurer
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