ARE YOU MAKING A MISTAKE FOR NOT SUBSCRIBING TO HEALTH INSURANCE FOR YOUR FAMILY?
This is a very tricky question, and the answer will depend from person to person. People in India do not have complete information about the health insurance. Furthermore, people in India make mistake of not selecting good health insurance plans. However, some do not make any mistake in selecting good health insurance schemes.
Most of them feel that it requires lot of documentation. Some of them get irritated hearing the term “Health Insurance”. Bad experience from your close friends/relatives about health insurance forces you to ignore health insurance.
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The major insurance policy ensuring the fact that one receives the cashless treatment/reimbursement, during the illness is known as the Health Insurance.
The health insurance is regulated by the IRDAI (Insurance Regulatory and Development Authority) guidelines.
You need to take up a good health insurance policy in India. This is done to protect yourself, interest of your family/promote their welfare. Furthermore, various kinds of health related problems can take place, if you ignore good health insurance in India.
Some of the common mistakes made by the people in India are as follows:
Assuming You Are Healthy, Ignore Health Insurance: Imagine the fact that you are well settled and your personal and professional life is on track. You consider yourselves healthy and boast about it in front of your friends/relatives. You ignore the calls from health insurance agencies offering good health insurance claims. It will not work out, when you suffer from major health related issues.
Not Reading Policy Booklet: People do not read the policy booklet, relating to health insurance. Forget to see the list of network hospitals in the neighbourhood. Some insurance companies could limit the rentals for hospital room up-till one percent of sum assured.
For example: Mr. Iyer got hospitalized for a major surgery. Sum assured is approx INR 2 lakhs, insurance company will only pay INR 2000 per day towards the room charges. Mr. Iyers family will have to pay the remaining payment. Please do read about the co-payment clause in the insurance document.
Going By Low Premiums: People in India love to save lot of money and end up selecting a health insurance in India with low premiums. It actually depends on your personal taste and liking. A normal person with extremely good health in India goes for health insurance with low premiums. If you have health related issues, then select a plan with huge facilities to offer protection.
Not Adding Kids: Most of the policyholders in India make the mistake of not adding kids in their insurance. So, when kids/children suffer from any disease, parents run for cover.
Depending On Company Offered Health Insurance: Most of the health insurance in India is not customized to your requirement. So, when employer takes health insurance on your behalf, it will not satisfy your requirements. You are left un-protected. The moment you lose the job, you feel dejected. Please make sure that you have an independent health insurance, covering you and your family under one umbrella.
Not Going For Renewals: Thanks to fast paced life, you forget the fact that you have health insurance and needs to be renewed. You must go ahead and review your health insurance policy. Furthermore, you must check various quality of the plan. You need to keep track of the new products available in health insurance.
Starting Health Insurance Late: Many people do not give importance to health insurance. If you take health insurance, when you are young, you will not be covered for pre-existing diseases. This will encourage person to go for cheaper cover with no-claim bonuses.
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