Do’s And Don’ts of Buying a Health Insurance Plan

The ongoing COVID-19 pandemic has made the entire world sit up and realise that medical exigencies are unpredictable and lead to the financial stress that might be difficult to handle. With a high infection rate, people have started to understand the importance of having a good health insurance plan as it reduces financial stress in case of a health emergency. Apart from this, rising healthcare costs is another reason to get a health insurance policy soon.

Now that you know the importance of buying suitable health insurance cover, you must also know the do’s and don’ts when doing so, in order to make the best buying decision. Read them below:

Do’s of Buying Health Insurance Plans

You must do the following things when buying health insurance plans online:

• Do Market Research: Instead of buying the first health insurance you read about online, you must do enough market research. This will not only help you understand our requirements better and find the best health insurance policy for yourself as per your requirement.
• Look For Coverage Options: Note that health insurance plans come with several restrictions on the coverage features offered under them. Hence, it becomes important to check if the policy you are about to purchase offers you the required coverage or not. So, make sure to check inclusions and exclusions from the policy brochure.
• Go Through the Terms And Conditions: It is recommended to go through the policy terms and conditions mentioned in the policy document in order to avoid any hassle at the time of claim settlement.
• Check For Network Hospitals: Network hospitals are those where you can avail cashless treatment in case of hospitalisation. It is recommended to check the list of network hospitals and go for the one with a greater number of network hospitals.
• Submit Necessary Documents: It is recommended to submit all the necessary documents as asked by the insurance company at the time of policy purchase.
• Take Necessary Medical Tests: Some insurance companies may ask you to undergo a pre-policy medical check-up before offering you coverage. You must go through the same and also check who will bear the cost for the same.
• Go Through Reviews: You can read health reviews online written by people who have already purchased a particular health insurance policy. It helps you make an informed decision.
• Health Insurance Renewal: In order to continue availing of health insurance coverage, you must renew your health insurance policy before its expiry. Once it lapses, you will lose all accumulated benefits.

Must Read: Health Insurance Policy Renewal - Guide To Online Process

Don’ts of Buying Health Insurance Plans

You must not do the following things when buying health insurance plans online:

• Don’t Buy the Policy That You Don’t Understand: You must not buy a policy that is difficult to understand as in that case, you would not be able to make the most of your policy.
• Don’t Hide Any Health Issue From Insurance Company: One of the biggest mistakes people make when buying health insurance online is hiding health issues in order to save on health insurance premiums. It is not a wise decision as it may lead to claim rejection in the future.
• Don’t Miss Renewal Dates: If you miss the health insurance renewal date, then your health insurance policy would not be of any use. Hence, it is recommended not to miss it.

Bottom Line

Going by the do’s and don’ts of buying a health insurance policy will help you enjoy a smooth purchase process and a hassle-free user experience in the future. Hence, follow the same to ensure complete protection without any unwanted hassle during and after buying the policy.

Also Read: Steps To Renew Health Insurance Plans Online

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.