Home न्यूज़ Avoid these mistakes while buying health insurance otherwise you will incur huge losses.

Avoid these mistakes while buying health insurance otherwise you will incur huge losses.

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Avoid these mistakes while buying health insurance otherwise you will incur huge losses.

In today’s time, buying a health insurance policy has become our necessity. Health insurance provides us coverage from expensive medicines and medical expenses. But while purchasing the policy, policy holders often do not understand the terms and conditions properly and end up causing huge losses to themselves.

Health Insurance: In today’s time, buying health insurance policy has become our necessity. The cost of treatment is increasing at the rate of 14% every year. Health insurance provides us coverage from expensive medicines and medical expenses. But while purchasing the policy, policy holders often do not understand the terms and conditions properly and end up causing huge losses to themselves. Often people approach insurance agents for policies, who somehow sell their policies by giving them cheaper plans with less benefits. Also, customers are not given complete information about the policy. The policy holder has to pay a heavy price for this at the time of claim. This not only increases the burden on their pockets, it also opens up a host of problems. In such a situation, keep these things in mind while buying health insurance…

Do not buy a policy with deductible amount

If you have purchased a policy with a deductible option, you will be required to pay the deductible amount before the insurance coverage. Suppose you have purchased health insurance worth Rs 10 lakh, on which the deductible amount is fixed at Rs 1 lakh, then you will have to deposit Rs 1 lakh every year for insurance coverage, then you will get the benefit of insurance coverage. This option will help you in reducing your monthly premium. This reduces the risk of diabetes, but it increases financial worries when the hospital bill comes.

its disadvantages

If a medical emergency arises, you will have to pay the deductible amount before making a claim. In some situations, you may not have the money and in such a situation you will not get the claim money from the insurance company unless you pay the deductible amount.

Avoid co-payment also-

In this, the policy holder has to pay some amount of the claim from his own pocket. Generally, it ranges from 10%, 20% or 30% of the claim. Often the policy holder chooses this option without weighing the pros and cons, and in times of emergency, when it comes to making a claim, the policy holder The holder also has to empty his pockets. In case of senior citizens, many insurance companies ask to opt for co-payment. If you get a chance to remove the option of co-payment even after paying higher premium, then free yourself from this burden.

It is important to focus on some sub-limits of the health insurance plan.

If the insurance plan includes a limit on hospital room rent, then to avoid expenses, it would be beneficial for you to choose only the room which is covered under the policy, unless there is a major emergency. Many times people upgrade their rooms for comfortable facilities. However, at the time of discharge from the hospital, they have to pay more than they expected. If your health insurance covers a room up to Rs 5,000 per day, and you decide to stay in a better room which costs Rs 10,000 per day, your hospital bill will increase from Rs 25,000 to Rs 50,000. In the plan, the policy holder gets cover on doctor’s fees, nursing fees, surgery expenses.

If your total hospital bill comes to Rs 3 lakh, you may have to pay Rs 1.5 lakh alone. Therefore, it is very important to keep these two things in mind. Either buy a policy that has no restrictions on room rent or stay in a room that is completely covered under your health insurance policy.

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