- No insurance needed for the healthy and young!
On the contrary, it is the best time to get health insurance. A policy that is purchased early in life and is regularly renewed helps the policyholder in staying ensured for life. It also acts like a shield against any announced accidents.
- Beginning of policy benefits from day one
There is a waiting period associated with every policy. Not many people know of this but claims during the first 30 days are not covered. Also, certain diseases are only covered after 3-4 claim free years.
- A cheap policy is the best policy
Never seek a plan with the lowest premium. These policies often exclude important features and have very restricted offerings. Though basic policies cover some obvious health problems, updated policies come with several important additional benefits.
- Group Health Insurance cover is enough
Always check the benefits covered under the group policy and assess its adequacy for the family. In most of the cases, it is best to get additional health insurance.
- Pregnancy claims are not covered
Up until a few years ago, most of the health insurance companies were unwilling to cover pregnancy in their package considering it as a sure shot claim. However, now it has been brought under the cover albeit with certain conditions. Consult with the insurance company to get more information regarding the same.
- Online buying of health insurance is not safe
This is so not true. Online purchasing of health insurance plans is fast catching up among the general public. This is because of lower premiums and better benefits than the offline one. As long as a person reads the policy document thoroughly, online health insurance plans are great.
- You can destroy the Policy documents after expiry
Never destroy the policy documents even when you change your TPA. This is because many a times your new TPA may not know the duration of your policy coverage for the previous years. This is an important point particularly when it comes to waiting periods.
- If the list of day care procedures is longer, it is better than others
This is so not true as the more the number of procedures in the list, higher is the chance of rejection of the claim. This is because such policies mention everything in detail. Better opt for a policy which has a broad treatment category and has generic procedures instead of specific ones.
It is important to do away from these myths whenever you are buying a health insurance policy for you and your family. This will help you in buying a policy that is in sync with your individual as well as group healthcare needs. In order to better understand the details of policy documents, contact our financial experts for more info.