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5 Common Misconceptions About Health Insurance Debunked!

Updated On Dec 04, 2020

The health insurance sector in India has penetrated to only 2% of the population. This can be attributed to the fact that they see it as an avoidable expenditure. A lot of Indians don't own health insurance maybe because they are still unclear about the process of getting one and its need. 

But before you seek a new cover or renew your existing one, shatter the glass of misconceptions that you see health insurance through, and buy the best product.

1. I’m fit, I don’t need health insurance

The truth is far from the fact that if you are at an early age and are healthy, you don’t need health insurance. But, no one actually understands what tomorrow has in store for you. You cannot ignore the chances of diseases coming your way on the beautiful journey of life.

So instead of being confident in your ‘current’ good health, the ideal way, on the opposite, is to buy health insurance as early as possible to be on a safer side. 

2. I will be paid only if I get hospitalized

Many health insurance companies reduce their benefits by limiting the number of hours. But there will be cases where you are not required to stay in the hospital, and will still get paid for the expenses incurred. For instance, you do not require to stay in the hospital for 24 hours for daycare procedures like cataract or dental operations, but these are still covered in the gamut of health insurance. 

3. Cheaper the better

No, cheap is not always the best. Even if you are not totally convinced with the idea of buying a health insurance policy, investing in the cheaper one is not the way out. A cheaper policy has fewer coverage features and often have the necessary ones excluded. So, it might not serve the purpose when you are actually in need of it. 

4. Purchasing health insurance policy online is risky  

If you are sceptical about purchasing health insurance online, you should understand that it is a safer and better process than the offline process of involving an agent. In the online process, you are in direct contact with the insurance companies through its official website and not through an agent. All you have to do is carefully go through the policy document before buying one online. So, convince yourself and buy one online, or even through insurance brokers like InsuranceDekho, without procrastinating any further! 

5. MediClaim terms cannot be changed

Premium, terms, benefits and even procedures of health insurance plans are subject to change. You can expect these changes in the span of five years, in a health insurance product. So, make sure that you are updated with the changes in your policy. 

Now, as you know the glaring myths and the reality behind getting health insurance, you must be clear with the procedure to get one and consider the above-mentioned points while choosing a plan. It is important for you to read the document carefully and leave the preconceived notions behind you in order to opt for the most suitable health insurance plan online. 

Also Read

10 Things to Check While Porting a Health Insurance Policy

Benefits of Porting Your Health Insurance Plan

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