Common Mistakes to Avoid While Buying Health Insurance

In the present times of inflated medical care costs, a health insurance policy acts a backbone of a healthy and financially sound life. However, buying a health insurance policy and buying the right insurance policy are two different things. The right insurance policy for you does not necessarily have to be the Best health insurance in India. There are many factors that need to be considered before purchasing a health insurance policy. Most of the people end up buying health insurance plans without putting much thought into it. As a result, they end up with a health insurance policy that does not provide adequate coverage or timely assistance. To help you make better decisions, we have listed out some of the most common mistakes that people make while purchasing health insurance policies:

1.Getting Insufficient Coverage: Most of the people end up buying insufficient coverage in a bid to save some money on the premiums. Although the amount of premium is an important factor to choose a health insurance plan, it should not be the only deciding factor. The main objective of a health insurance policy is to provide adequate coverage at the hour of need. Taking up an insurance policy with an insufficient coverage is as good as taking up no insurance at all. Hence, before purchasing a policy, ensure that it covers your needs adequately.

2.Not Reading The Fine Print: Although you might be aware of the things covered under your policy, the fine print often mentions the exclusions that are not covered under the policy. It is important to be aware of the things that are excluded from the policy so that you can avoid unfavourable circumstances while claiming insurance.

p>3.Hiding Health Related Information: All the important details considering your medical history should be disclosed honestly without omissions or falsifications. Some people hide information such as history of drinking or smoking in bid to lower the insurance premiums. However, keeping such facts concealed from the insurance provider can be held against you at the time of claim settlement.

4.Trusting The Insurance Agent Blindly: Most of the agents are only focused on making a sale. While briefing you about the policy, they might skim over certain key aspects and ignore the rest of the information. Hence the customer fails to gain the required insight in order to make an informed decision.

5.Not Checking The Cashless Network Of Hospitals: before buying a health insurance policy, make sure that your preferred medical care centre is covered under the cashless medical policy. If the hospitals near your area are not covered under the company’s network, you cannot avail the benefits of the cashless policy.