Health insurance is a protection plan that offers money related coverage for medical costs when the policyholder is hospitalized. Health Insurance provides various benefits to the insured such as Medical coverage plans with numerous advantages, for example, cashless hospitalization, day-care facility, etc. or provides coverage for reimbursement of the incurred expenses. Before getting any long term insurance first you need to cover yourself and your family against any medical expenses.
Nowadays as our style of living is increasing so our medical expenses are also increasing in the same way. A small disease can lead to loss of our savings. So in order to save yourself against any kind of losses health insurance is a necessity.
Although buying a health insurance policy is very straightforward, especially in this digital age, there are still a lot of misconceptions about health insurance. So before buying health insurance it is very necessary to be very clear about these misconceptions.
Here are list of some misconceptions:
#1 Young means no Insurance
Young doesn’t mean you are healthy. In fact, it is said that health insurance should be buyed when you are healthy and fit. There are certain diseases which remain unidentifiable and about which we come to know only when symptoms are visible. There are certain policies which provide you coverage after 48 months of buying the policy, In this case it is very necessary for you to buy the policy at a very early age.
Also, health insurance is not only for illness. It is true that we have such a busy life that accidents can happen any time and at any age. In this case, health insurance would be very useful.
#2 The cheapest policy is the best policy
It is a myth that cheapest policy is the best. Health insurance policies are also of various types and of various versions. It is very important to check for all the benefits included in those policies. So while comparing policies always check you are comparing the same versions. Premium factor should be the last one while comparing the policies.
#3 My personal information could be misused
We at Bitola Capital always take care of the privacy of our customers and ensure your data is safe at all times. We are using SSL certification protocol for our website safety and our website is made under all safety guidelines. Your personal information is kept safe through encryption. We strictly follow IRDAI rules that has made it mandatory for all the insurance policy providing companies to ensure the protection and maintenance of confidentiality of all the information that they have collected.
#4 Pregnancy or Maternity Covers are not offered under the Health Insurance Policy
It is a misconception that maternity covers are not provided by the insurers. In fact, maternity covers can be purchased from any health insurance provider. Maternity cover comes with a waiting period of approximately 24 months.
#5 One needs 24 hours of hospitalization for claim
The most important requirement for almost every health insurance claim is minimum 24 hrs hospitalization. However, with technological advancements, certain surgeries and procedures require less time. Therefore, many health insurance plans have started covering claims for day-care expenses such as dialysis, chemotherapy, eye surgery and lithotripsy, among others.
#6 Benefits from health plan start flowing from day one
A common myth among most policyholders is that insurers decline claims on flimsy grounds criticizing non-coverage of certain medical events. In reality, the claims may be declined because of non-coverage due to ‘waiting periods’, which are always disclosed in the policy document. Being aware of these may help in a better claim experience. Every health insurance policy will have a ‘waiting period’, before which the claim against specific ailments will not be paid.
No diseases get covered during the first 30 days from the commencement of any policy. Only accidental hospitalization gets coverage from day one. Further, some diseases are covered only after the expiry of a specified period. Also Health insurance purchased just before a surgery will not cover the costs
Any pre-existing diseases may not be covered in your health insurance policy, hence read the fine print before buying a policy. Every insurance policy has certain waiting time after which reimbursement depends.
#7 Porting your current health insurance policy is difficult
People usually have a myth regarding the portability of their existing policy. In-fact, portability comes out with various customization options. While porting a policy the user can change the existing policy according to his requirements and lifestyle. Insurance companies normally provide existing benefits at lower premiums, because of high competition. There are no extra charges for porting. You only have to pay the premium applicable for the plan chosen by you.
These are some of the common myths that people might have while buying a health insurance policy. Also, it is very important for buyers to be very honest and read all the documents carefully before buying the policy. In any case if the insurer suspects that the buyer was aware of the pre-existing disease at the time of buying the policy then the company may refuse to honour the claim. This is the reason why it is important to disclose any pre-existing ailment at the time of buying, for a smooth claims settlement process later on.
Healthcare is extremely expensive and hence it’s important to be insured with the right health insurance plan for your needs. At Bitola capital we help our customers to get the best insurance policies in all the possible ways. Since nowadays the whole world is struggling with a very deadly disease (COVID-19) and every person is having financial losses, it is a very crucial time for you to buy health insurance and save yourself from any kind of medical expense.
So What are you waiting for? Buy Health Insurance Online and stay safe.