In India, Public Health falls under the State List, which means that the state government will make laws on Public Health. This is the reason why Public healthcare services are good in some states and bad in others. Due to inadequate resources and management, a large population unwillingly opts for private health services.
In today’s time, health insurance policies are becoming a necessity for everyone. They have become more important especially in the Corona period. In India, people often ignore taking health insurance, that is why the insurance penetration is very low in India. On the positive side, people are getting aware now and have been realising the importance of health insurance.
Nowadays, many companies offer a variety of health insurance policies, people often get confused in choosing the right policy. It is not easy to choose the best policy for yourself among the many policies. Today, in this article, we will tell you about some common mistakes that people make while buying a health insurance policy.
How much coverage do you need?
Most people buy health insurance without calculating their needs. They either take more or less coverage than they need. The cost of premium plays an important role in deciding the amount of coverage. So, if you buy more coverage than you need, you will end up spending extra money unnecessarily. Which will be like a burden on the pocket. On the other hand, if you are taking less coverage then you may have to face financial risks at the time of need.
Furnishing true information
It is essential to disclose your medical history and current health status while buying a health insurance policy. It is very important not to hide any disease while filling the proposal form. If you hide your medical history, you may not receive medical coverage if you fall ill because of a pre-existing medical problem.
Spot you requirements
Health insurance plans are not standard products. You can choose your insurance coverage according to your need. That is, more or less. Therefore, it is essential to understand your requirements first before finally choosing a health insurance policy. This will be extremely beneficial at the time of claim. Failure to do so may result in financial loss.
Know the exclusions
These are the situations that are not covered by the insurance company. It is equally important to understand the exclusions as it is about the things that are not covered in the policy. However, most people don’t bother to look at the exclusions. But you should be aware of the things which are not covered in your policy. This can come in handy in choosing the right policy.
Compare before choosing
Health insurance companies offer a variety of policy options to buyers. But it is often seen that people hesitate to change their insurance provider. However, to get a better offer, it is imperative to compare the features, benefits and other terms and conditions among various products available in the market and choose accordingly. Compare the maximum policies available according to your requirement.