Health Insurance: In the current era of digitalization, buying insurance has become incredibly easy. You can get information about policies from different companies from the comfort of your home and compare them. Buying insurance online has become very convenient, and the chances of fraud are minimal. It can also be easily tracked. However, online purchases do have some challenges, such as the absence of an agent. Because of this, many people overlook some crucial details, such as the waiting period, sub-limits, or which add-ons are essential.
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Avoid These Mistakes When Buying Health Insurance Online
Focusing only on the premium: Many people buy policies solely based on low premiums. However, they overlook important aspects like room rent caps, co-pays, and waiting periods. A policy should not just be a tax-saving tool, but a means of security.
Hiding pre-existing conditions or medical history: Not providing accurate information in the proposal form is the biggest mistake. Hiding past tests, medications, illnesses, or surgeries can lead to claim rejection.
Ignoring add-on covers: Sometimes, plans with lower premiums have higher room rent limits, sub-limits, or co-pays. Choosing the right add-ons can be beneficial, but people often overlook them.
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What to Pay Extra Attention To:
Room Rent: If you choose a room category higher than what’s specified in the policy, your bill may be reduced.
Cashless Facility: Before going to the hospital, check if it’s included in the network.
Top-up Plan: This is only beneficial if the deductible of the base policy matches correctly.
Pre-authorization: Get pre-authorization 3-5 days before planned surgery.
OPD Expenses: Most policies do not cover OPD expenses. If needed, opt for an OPD add-on.