Health with the prevailing scenario has been a major cause of concern in India. Taking into consideration that the last few years have been an eye-opener people have realized the importance of nutrition, well- being and how to avoid shelling out a higher medical insurance premium calculator. So as to gain the maximum amount of benefits from your health insurance you need to avoid certain mistakes.
Not conducting proper research
People end up purchasing a health insurance policy without understanding its features it. If you do not conduct proper research you could end up with a policy that may not suffice your requirements.
Do proper research of a health insurance policy and purchase one that complies with your requirements. For example, if you are a small family of 1 to 2 people it is advisable to choose a family floater policy rather than an individual policy. Even it is advisable to purchase a senior citizen plan to satisfy the medical needs of your parents. When you choose a specific policy it would suffice a lot of requirements.
Sticking to insufficient coverage
A policyholder has to choose an insurance policy based on their health conditions and personal preferences. But the sad part is that most people end up choosing a health insurance plan based on the premium they need to pay. So when a medical emergency occurs lack of coverage may be seen. What it means is that you may very well end up paying the excess amount from your pocket.
Yes, it is necessary that you have to take into consideration the amount of premium for dealing with health insurance, it should not be the sole factor when you are purchasing a health insurance policy. Take into consideration the medical history and the number of family members. Hence you would be able to analyze the medical expense which may arise in the future. If you have proper coverage it is going to prevent lack of coverage during times of emergency.
Not revealing the medical history
When you are purchasing a medical insurance policy it is suggested that you reveal your exact medical condition. Some people are of the opinion if you conceal your medical history it would lead to rejection or you have to bear a high premium.
The same logic is applicable to lifestyle questions when an insurer would ask questions about health insurance. You need to be choosing a higher amount of premium and an undisclosed habit like smoking may land you in trouble.
If you are looking to avoid claim rejections there is no point to be secretive about your medical history and lifestyle choices. Even if you have to pay a higher premium it would suffice as this would prevent unnecessary complications that may emerge at a later point in time.
Purchasing of a standard policy
An insurance company opts for basic coverage in a standard policy that is going to cover any form of the disease as some of them would not fall under the scope of standard coverage. But a policyholder would explore the possibility of certain add on and offs. Since it is going to increase the premium people end up purchasing a standard insurance policy. Though the premium would be on the lower side, it is not going to cover any condition when it comes to the question of an add-on.
Make sure that you opt for the add-ones as personal incidents would be worth paying the premium.
Not taking into consideration other insurers
It is a common practice that people do not consider changing their insurer provide until they are completely dissatisfied with the level of services on offer. Most people end up sticking to the same insurance provider as it can lead to a reduction of accumulated benefits. Even people reduce the hassle of changing their insurance provider.
It is quite possible that an insurance provider that the other companies would offer the same or combined benefit where the premium is relatively lower. It would be advisable that you have to check out the premium rates that are provided by the other companies on offer. Any form of benefits that you have accumulated with your current insurance provider would be transferable to the next provider.
When you are choosing a health insurance policy watch out for the exclusions. Care health insurance policy is one such policy that would provide extensive coverage. Many people end up ignoring the exclusions and are of the opinion that everything would be covered. But is a wrong practice to follow and watch out for the various coverage modules before you choose an insurance policy.
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