Health Insurance Do’s and Don'ts

Health insurance policies have become an indispensable part of our lives as we can no longer deny the physical disorders that plague our lives. Nowadays, most people understand the imperative of a health insurance policy but are not always sure about the terms and conditions that come with it. It often leads to a lack of comprehension and uninformed decision making. Like all other aspects of our lives, there are certain do’s and don'ts that we need to follow in the domain of health insurance policies.

The following is a list of Do’s and Don’t that you must bear in mind if you would like to reap the most benefit out of your health insurance policies -

Health Insurance Do's

You need to keep several things in mind while investing in a health insurance policy so that it not only offers you financial protection during a medical emergency but continues its beneficial services till the end of the policy tenure. Let us look at some of these do’s to help you understand better -

1. You should always look for a health insurance policy that comes with a comprehensive cover. The primary objective of health insurance is to provide financial coverage against unforeseen circumstances such as an accident or a critical illness, hospitalization and surgery fees, and other associated medical expenses. Ensuring that the health insurance policy that you choose has a lump sum insurance cover and offers protection against each of these things is mandatory to fully secure the health-related concerns of you and your family.

2. While buying a health insurance policy, you are advised to buy it from a reputed company. This is necessary because you need to ensure that the insurance providing company is reliable as it will ultimately have an effect during your claim settlement process.

3. You must disclose your medical history to an insurance company before buying a health insurance company. Non-disclosure of medical history can often result in the complete rejection of the claim amount. Hence, it is important for you to be honest while listing your medical history if you want the insurance company to offer full coverage for future diagnosis and treatment costs.

4. Contrary to popular notion, health insurance companies are not liable to pay the entire sum of your medical bills incurred by you. Sometimes, a portion of the medical expenses has to be paid by you and the remaining percentage is paid by the insurance company. This is known as deductible and different companies have different rates for the same. It often impacts the total coverage provided to you and so you must take this into consideration before hurriedly settling for any kind of health policy.

Health Insurance Don'ts -

The following is a list of don’ts that you be wary of to avoid to get the best benefit from your insurance provider -

1. You should not disclose any false information to the insurance provider while buying or investing in a health policy. Offering false information can lead to trouble and it can leave you underinsured or without an insurance cover. It means that you could either have a lesser amount of insurance coverage or cannot claim your health cover.

2. You must not overlook the inclusions and exclusions of a health insurance policy. Being aware of what is covered and what is not covered will ultimately aid you in choosing an insurance cover that is comprehensive and caters to all of your medical and financial needs.

3. While buying a health insurance policy, it is very natural for people to have questions and queries about certain aspects of the same. If you have some questions, you should not shy away from asking them to any health insurance representative of the company that you are willing to buy insurance from. Getting your answers will resolve your doubts and give you a clearer picture of the policy and the company.

4. Finally, don’t forget to do some background research on the insurance company that you are looking forward to investing in or buying health insurance from. Simply settling for a health insurance policy because it has an attractive cover or a premium rate would be foolish without taking into consideration its other aspects such as the claims settlement ratio and customer satisfaction.

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If you follow these do and don’t steps, you can buy your ideal health insurance policy without any confusion and can be assured of a sturdy fiscal backup in times of your need and emergencies. However, these steps are not contingent upon anybody, you ultimately have the option of choosing an insurance policy that is best suited to your medical and financial needs.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.