Health insurance is insurance that helps to cover expenses such as hospitalization and surgical cost but we make some common health insurance mistakes.
Insurance now has become a necessity. by taking health insurance, a person will not need to take the financial pressure of health expenses. The caretaker of the family does possible things that can make his or her family happy and safe. he or she considers certain factors of risk like sudden death, severe illness, unemployment, etc which cannot be controlled by anyone. So for safety or to reduce risk health insurance is popular nowadays.it covers different types of plans and facilities attached to it .a person can choose any plan according to his or her need of the family.
But while taking health insurance, sometimes we just make mistakes. let’s see the common health insurance mistakes we can make while taking any health insurance policy
Common health insurance mistakes
Mistake 1: Focus only on premium
People mostly focus on those health insurance which saves their pockets. they generally look for premium only but not the other factors. the main problem occurs when they claim for money. the low number proves to be inadequate for covering the medical and hospital bills which eventually causes a burden on the family at the time of need. therefore choose wisely.
Mistake 2: Health insurance for tax benefits
The premium you pay is indeed deductible under section 80D but it should not be your sole motive. if is your sole motive then you may probably buy inadequate insurance cover.it is advisable to take insurance that covers your expenses in the future regarding health.
Mistake 3: Hiding facts about pre-illness while buying insurance
Many people lie about their medical background so that their application would not reject .but the problem occurs as when the insurance company knows about it, they eventually reject your application for the claim.
Mistake 4: Take insurance blindly with the suggestion of friends or relatives
We all have good friends and family members but everyone has a different medical history. the insurance policy which your friends take may be best for them but not for yours.so buy health insurance according to your needs and requirements.dont take any health insurance blindly.
Mistake 5: Not comparing health insurance plans
In the market, there are hundreds of insurance policy plans available having different benefits .how do you know which policy suits you without looking to the alternatives? well, you should keep checking of other insurance policy also before buying and even after buying an insurance policy. it can save you a lot of money.
Mistake 6: Young people do not require insurance
Yes, young peoples are indeed healthier but illness and accidents are unpredictable. so it advisable to take health insurance early in your 20s and 30s. it gives you a benefit that your application has a lesser chance to reject by the insurer. many health insurance application got rejected when they really wanted claim.
Mistake 7: Not reading the terms and conditions
It is a big mistake when you did not read or consider important to analyze all terms and conditions.it can lead to a negative effect on your financial plans in the future.so before buying any policy read all the terms and conditions carefully.
Mistake 8: Not knowing about discounts
Well at the time of purchasing health insurance, many discounts are given by the company to their customers .so keep searching for them to save money.
So here are some common mistakes that mainly occur in health insurance.so by taking care of these things, you can buy your suitable health insurance plan with various benefits.
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