Rising healthcare expenditures and lifestyle-related illnesses have made health insurance an absolute necessity. Although purchasing a health insurance policy is a breeze in today’s digital age, many common myths persist regarding the nature of health insurance. Therefore, you should learn the truth & benefits of health insurance and dispel the fallacies before making a purchase. Here are some widespread misconceptions and the truths that expose them:
Myth 1: I am healthy and youthful, so I don’t need to worry about anything. I see no reason to purchase medical coverage
True or false? Our stressed modern lifestyle and environmental pollutants have rendered age irrelevant to optimum health. Scientific research has proven that the bulk of the youth population is becoming increasingly ill. Therefore, health insurance is preferable to no coverage, regardless of age. To save money, knowing the answer to ‘what is health insurance?’ in your younger years is smart. ##
Myth 2: Health Insurance provided by your employer is adequate
It’s a well-known fact that the vast majority of businesses provide health insurance for their workers. However, it would help if you didn’t neglect the value of health insurance for yourself. Your employer’s coverage only applies while the company still employs you, so if you decide to leave your job, you will need to find another insurance option. Having one’s own health insurance policy eliminates the need for this reliance.
Myth 3: In order to file an insurance claim, you must be hospitalised for at least 24 hours
Contrary to popular belief, hospitalisation is not now required prior to making an insurance claim. Treatments, including chemotherapy, radiotherapy, eye surgery, dialysis, etc., are now routinely covered by many insurance plans. Dental care is not considered ‘daycare’ and is not always necessary for inpatient care. All of these services are included in various insurance packages. *
Myth 4: Health insurance does not cover pregnancy
This fact was true up until relatively recently, but things are looking up. Maternity and pregnancy coverage from insurers is available, albeit it comes with caveats. Some policies cover an unlimited number of pregnancies, while others impose a three-year waiting period before paying out on any such claims. *
Myth 5: Last-minute health insurance purchases will be sufficient to cover the price of a surgical procedure.
Many online health insurance policies indeed contain a waiting time before payments are made for illness-related expenses. In addition, after the waiting time is over, pre-existing conditions are covered.
Myth 6: All Medical Bills Will Be Paid in Full
To be sure, the policy determines the exact percentage of reimbursement. Room expenses are often limited to a certain percentage of the entire sum insured, with any additional costs falling on the policyholder. Sub-limits in a policy may apply to partial reimbursement for things like medical costs. Selecting the optimal policy for your requirements from the various options is a wise course of action. * ##
Myth 7: Health insurance purchased online is insecure
This is especially true of health insurance, which can now be purchased online with the press of a button. All of the information is uploaded to websites that use encrypted payment processors and provide complete anonymity to their users. Quick responses to questions and easy access to verified data are two advantages of doing research and asking questions online. It’s the most practical choice right now, and you can buy a health insurance policy in less than ten minutes. *
Now that you know the truth behind the rumours, it’s time to conduct your due diligence and study the offer paperwork before committing to a policy. The cost of healthcare is at an all-time high, but the benefits of health insurance far outweigh them. Therefore it’s crucial to have a comprehensive health insurance policy in place.
* Standard T&C Apply
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
‘Insurance is the subject matter of solicitation.’ For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘