“There’s nothing more important than our good health – that’s our principal asset.” – Arien Specter
We take great care in protecting our assets like money, property or jewellery. Why should we leave our health behind? After all, it is our main asset and nothing else matters if we don’t have good health by our side.
By investing in the best health insurance policy based on your needs, you can count on it like a true friend during emergencies. With the right plan, you can ensure quality medical care for your family. Moreover, you don’t have to break into your savings to pay for exorbitant medical expenses.
If you are having trouble finalising the best health insurance policy based on your needs, here are some tips that can help you avoid these oversights and help choose the right health insurance policy.
Medical emergencies can come unannounced. During such challenging times, a health policy can cover all your expenses. At times, buyers compromise on policies as the premium increases with coverage. If you opt for a lower cover, it may not suffice during your times of need and you may even have to make alternative financial arrangements.
Suppose you wish to cover more members of your family then it is ideal to choose a family floater policy. The premium is lower compared to individual policies and the amount is restored the same year for another member, if any claim is made. Thus, it’s advisable to assess the needs of your family and figure out an approximate coverage amount.
Hiding medical history:
Insurance recommends revealing your medical background when buying a health policy on Reliance Health Insurance website. You may have zeroed-in on the optimum health insurance plan for yourself and your family; you may not want to reveal your family’s medical background fearing a higher premium amount. The worst fear is the rejection of your application. However, the insurer may reject your claim if they determine this aspect at a later stage.
Ignoring the fine print
You may have read the policy terms and been satisfied that you have selected the most sound health insurance plan for your family; the premium amount been affordable; and the hospital of your choice is empanelled as well. Regardless, it is strongly recommended to comb through the fine print and choose the best More Health Insurance plan. You can also know if any ailments are excluded from the coverage.
Investing in additional policy
It is understandable that you want to provide the best health insurance to your family. You do not want to leave any stone unturned and in doing so and want to buy an additional policy to increase coverage. Contrary to popular belief, this step may not always be beneficial and in fact, turn out to be expensive. To ensure choosing the right health plan, invest in one that provides more coverage at the same premium. For e.g. choosing MoreCover option by Reliance Health Insurance provides an additional cover of ₹2 lakh on purchase of ₹5 lakh cover. A health insurance plan is best only when it can take care of overall expenses, and with More Health policy you can also restore your entire sum assured at no additional cost upon a claim.
Ignoring plan benefits
The future is uncertain. No one wants to think about adversities like accidents and unexpected illnesses. The reality is that these emergencies can strike anyone at any time. In the face of such crises, you may require extra funds to pay for your hospital bills. The benefits under More Health Insurance provide additional insurance coverage in case of such unfortunate situations. More Health Insurance provides you with the option to restore your entire sum insured at no additional cost within the same year of your claim.
Insurance is not for the young
Adversities do not see age and emergencies can affect anyone, at any time. For the benefit for the family, it is advocated to purchase health insurance even if you are young. When you purchase a health insurance policy at a younger age, you can overcome the barriers of waiting period of 2-3 years for certain diseases when you need the health insurance most. Thus, it’s urged that you buy an insurance policy if you are in your 20s or 30s and become financially independent.
With health insurance, you can protect yourself and your family in uncertain times. By steering clear of these common mistakes, you can avoid having a bad experience and buy the best health insurance policy from Reliance Health Insurance.