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Common Mistakes People Commit While Purchasing a Health Insurance!

Published On Mar 15, 2019 5:30 AM By Gunjan Anand

Making mistakes is common, repeating them is a crime. But, to not to let any error recur, one must be acquainted with our blunders first. Many times due to lack of knowledge people get unable to identify their faults, so the question of rectification could not even arise. Therefore, everyone looking to buy a health insurance plan should peep into the typical errors first, that are committed by the people in India.
Going through the common points of errors will not only provide you with the knowledge to make the right choice while purchasing a health insurance plan but also secure your hard-earned money from being invested in a wrong scheme. There are many recurrent mistakes perpetrate by the policyholders of health insurance. Following is a list comprising some of those common errors with health insurance tips :

a) Opt for the similar plans purchased by the friends and family
It is the first and the worst decision, generally taken by the people when it comes to selecting a health insurance plan. Like everyone cannot look good in similar clothes, similarly, a single policy can never take care of different people and families. We all have a different medical history, lifestyle, income, etc., so how one health plan can satisfy all. Therefore, you must opt for the plans as per your requirements and not according to the choices of your friends and family members.     

b) People rule out the need for a health plan when healthy and fit
Apart from the lack of knowledge, misconceptions also lead to making bad choices. This can be understood with a fact that many young people own a notion that they do not require any health plan since they are fit and the health plans are for older people who fall sick frequently. But, what they need to comprehend that imbalanced lifestyle is making us ill much before then our expectations. Thus, it is suggested to buy a health insurance policy when you are young and fit. The young age will lessen your premium amount and fitness will help in passing the waiting period easily. 

c) To purchase a health policy with a lower coverage
Sometimes, people stuffed with an understanding of the significance of health insurance plans also commit mistakes in choosing the perfect health policy. The ones with a lot of financial concern generally make this sort of error by opting for a plan with lower coverage to pay a lesser premium. But, they forget that at the time of any crisis, the lower coverage plan may not stay adequate to meet their hefty medical bills. Apart from this, as time goes by inflation also show its effect. Thus, an optimum coverage is required to cope up such situations and to avail the policy to the fullest.   

d) Not including the parents in the health insurance plan 
It is observed that many people exclude their parents while buying health insurance. Every parent requires a health plan that too, particularly in their older age when they encounter frequent medical-related sufferings. Covering them would be a prudent option as they need medical assistance frequently. Purchasing a family floater health insurance plan would be the perfect decision and incorporating parents in it makes it much fruitful.   

e) Trusting the health insurance agent blindly
The health insurance agent is there to assist you in completing your formalities while purchasing a plan or making a claim. As an agent carries the health plan of his company only, which may lead the policyholders to get limited options only while buying a health insurance policy. Due to this, you may not find the scheme totally reasonable to your necessities. So, consulting a broker instead of an agent is a better option as the former have the policies of different insurers that enhance the options and chances of getting the best plan as per your needs and your financial condition.

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5 Tips to Buy Health Insurance Online

So, safeguard yourself from executing such mistakes in future while buying a health insurance plan to find the most reasonable policy for yourself.          

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