General misconceptions about health insurance

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1. Medical insurance is not for young people

While you might be young and healthy now, there is no guarantee that your health would remain the same till you reach your 40s, 50s or 60s. The increasing stress of our professional and personal lives significantly affects our health.

So, a health insurance policy is a must even if you are in your 20s or 30s and are completely healthy. Moreover, policies are generally cheaper when you are young.

2. Health insurance provided by employer is adequate

A lot of people believe that they do not need an individual policy if they are already covered under the group medical policy of their employer. But to reduce high premiums, most of these group policies do not cover your dependents, aged parents, require co-payment, etc. Moreover, you are only covered under this policy as long as you work with the employer. It is great that your employer offers group health cover, but this does not eliminate the need for you to have the protection of health insurance for you and your family.

3. Medical insurance is no good as it does not cover pre-existing diseases

Many believe that as a health insurance policy does not cover pre-existing ailments, it is obsolete. However, most policies provide you with protection against such diseases as long as you have completed a “Waiting Period” with the policy which could be anywhere between 1-4 years depending on the ailment and your policy provider.

4. Medical insurance only covers 24-hours or above hospitalisation costs

Several medical procedures require a patient to stay at the hospital only for the duration of the procedure which is less than 24 hours. These come under the category of Day Care Treatment. An example of this is a Cataract Operation wherein a patient can actually be home within hours after the surgery.

A lot of people believe that such medical procedures are not covered under the medical policy as the patient is not hospitalised. However, most medical policies cover such treatments as well.

5. Purchasing medical plan online is risky

Most insurance providers now let you purchase health insurance cover online as well. However, a lot of people believe that purchasing a medical plan online is risky.

But as long as you are dealing with a reputed insurance provider and purchasing the policy from the official website of the company, be assured that the whole process will be completely safe. As a matter of fact, online policies are generally known to be cheaper than offline purchases.

Protect yourself and your family members against high medical costs with medical policy

With some of the most common medical policy myths busted, you are now better prepared to make the right decision. Rather than viewing medical insurance as an unwanted expense, try to understand its importance in protecting your financial health.

Insurance providers now offer many different types of health insurance plans to suit every buyer. Browse through the different options offered by the company and thoroughly understand their benefits to select the one that best suits your requirements.

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