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7 Reasons Why People Not Buying Health Insurance Policy?

Updated On Jan 30, 2024

India is a developing nation that is heading towards achieving overall development and financial stability every day. But without a healthy population, no nation can attain its goal easily. Even as per a famous saying by Winston Churchill, “Healthy citizens are the greatest asset any country can have”. On this note, the health insurance plan is the best tool to help a nation stay healthier without going through any financial crisis. Unfortunately, only 23% males and 20% of females are insured under any health plan.

There lie several factors behind these low figures, but the most crucial one is awareness. It is found that several people don’t even want insurance and try to get away with this by making weird excuses for not purchasing the policies. This might be due to various misapprehensions or lack of awareness but needed to be clarified to lead the country in a healthier direction.

Silly Reasons Why People Not Buying Health Insurance Policy

Here are a few reasons people put forward for not buying the health insurance plans:

1. Health policies are expensive to afford

Firstly, there are different types of health insurance policies in India. Thus, it gives the policyholder enough choices to purchase as per his or her requirements and budget. Secondly, even if the health plan with the lowest price looks costly to someone, he or she should spare a thought as to how costly it would be to get admitted to any hospital due to an accident or critical illness. If investing today in health insurance is of no worth to you today, you might realize its cost when a hefty medical bill will be in your hands someday. So, look for the bigger picture and opt for a health plan today rather than being left affected due to escalating medical care costs.

2. The plans don’t fulfill my medical requirements

When it comes to the purchase of a health insurance plan, you should go for the plans that exactly cover your health care needs. If somehow, you couldn’t find any relevant policy, some top-up plans for providing drug benefit, can be injected into it to enhance its efficiency. Having a discussion with professional brokers from InsuranceDekho and other insurance firms can help you discover accurate top-up plans to supplement your policy and fulfill all your medical requirements. So, solutions are present in the open, all you need is to discuss, analyze, and implement to solve your healthcare-related problems. 

3. Choosing the right health insurance plan is too complex

It’s not complicated but just seek your patience. In this era of digitization, the whole internet is there to help you find the best insurance policies with every kind of detail, comprehensive analysis, pros and cons, etc. Apart from that, you can have a word with several agents, friends, colleagues, relatives, and so on, about it. But this process requires a bit of time and patience, investing in which is going to deliver much bigger profits to you and your family in times of medical emergencies.

4. Got dissatisfied with a plan in the past, so not interested in health policies anymore

The policyholders with this thought should realize that every health plan owns distinguished features and offers different benefits. Therefore, if one policy couldn’t satisfy you, it might be a mistake of yours only in selecting a relevant policy as per your needs. It can be understood with an example that if you get a bad travel experience on a flight, train, etc., can’t conclude that all the trains and planes are going to give you a bad experience only, every time you board them. So, don’t lose hope and try another health policy with proper research.

5. I am healthy and medically fit, thus, need no health insurance plan 

This is one of the most common and lamest excuses for not having a health insurance plan. People assume that being fit they don’t need any insurance, but forget being a human being they tend to fall sick someday or the other. An inactive lifestyle, a contaminated environment, and much more affect people’s health a lot. Thus, falling ill is quite evident and so is the need for an insurance plan. So, take it as a long-term plan and not as a short-term one. So, if you don’t need it today, buy it for tomorrow.  

6. Waiting for the health insurance plans to go cheaper

Many people compute the value of medical insurance merely with the amount of premium and plan to buy the policy when available at a cheap price. But, they are completely wrong and fail to understand that expenses at the time of a medical emergency are much higher than the cost of a yearly premium. Also, with the increasing healthcare expenses, it is very difficult to expect health insurance costs to go low. Therefore, it is a bad choice to waste time being uninsured.  

7. The Modi government will offer us free insurance schemes

There is no doubt that Modi is a great leader and he is striving hard to offer the best post-possible benefits to the citizens of India. But, the facts and logic say that even if the government provides free of cost insurance to people, that will be for underprivileged residents only and not for all. So, making your health care compromised on false hope or an unannounced scheme by the government may make you and your family face a financial crisis badly someday.

Conclusion

Excuses are many, but the solution is one. However, purchasing health insurance can assist you in times of medical emergency, while the above-mentioned reasons for not having a policy will always escalate the trouble and insecurity. So, stop giving excuses and start investing in health insurance.

Also Read:

Common mistakes people commit while buying a health insurance plan

Simple Ways To Spend Your Free Time During Coronavirus Lockdown

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