Health Insurance Myths and Facts
The common misconceptions regarding health insurance are described in the section below.
A group health insurance policy is sufficient
- A group health insurance plan is a type of health insurance plan given by an employer to its employees. People frequently believe that a corporate group health insurance plan is sufficient to cover all of their medical requirements. However, when you change employers, you are no longer eligible to receive health insurance coverage.
- Aside from this, most employers provide coverage only for employees. You may have to pay an additional premium to cover any of your family members under the same policy. In contrast, when you purchase a regular health insurance plan, you continue to receive coverage under the policy irrespective of the change of jobs. Moreover, you can cover all the members under the same policy if you purchase a family floater health plan.
Health insurance is not important for young individuals
- Another common misconception regarding health insurance is that it is not necessary to purchase it for young individuals. Besides ensuring financial security against medical emergencies, purchasing a health insurance plan at a young age will provide you with a lot more benefits. Some diseases are not covered on the first day of the policy. This means you have to complete a waiting period to get coverage for those diseases.
- If you purchase health insurance at a young age, it will ensure that you complete the waiting period of the policy when you are young and healthy. Besides this, purchasing a health plan at an early age also helps you save on premiums. This is because the premium paid against the policy depends on certain factors, including age. Older individuals may have to pay a higher premium against their policy as they are more vulnerable to diseases.
It is unsafe to purchase health insurance online
- Unlike old-school days, when you used to rely on insurance agents for purchasing health insurance plans, now you can easily purchase them yourself online. There are online platforms like InsuranceDekho that provide many affordable health insurance plans. You can compare different plans and choose the one that is most affordable and best suits your needs.
- The company ensures complete confidentiality and privacy of the personal information of its customers. Additionally, the processing time for getting insured is decreased as insurers can check the provided information in real-time and address the queries of their customers immediately. Therefore, purchasing health insurance online is safe, convenient, and easy.
A limited sum assured will suffice the requirement
- Inflation is striking hard even in the healthcare sector in India. As a result, any major illness can bring a financial burden to you. You can combat medical inflation if you are covered under a health insurance policy with an appropriate sum assured. This is one of the important factors that you should keep in mind when purchasing a health insurance plan.
- A sum assured is an amount up to which an insurer provides coverage to the policyholder. When choosing a sum assured, make sure that you consider the medical history of yourself and your family, pre-existing diseases (if any), and the number of members covered under the plan. Purchasing a health plan with the right amount of coverage will provide you with financial protection during medical emergencies.
