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Do's and Don'ts for Health Insurance

Health Insurance Guidelines

When you buy a health insurance policy, there are some Do’s and Don’ts that you need to follow to make sure that you get maximum benefit from the coverage. We are going to talk about some guidelines that will help you make the right choice while buying a medical insurance policy.

The importance of Health Insurance to deal with medical emergencies is undoubtedly beyond measures. Health policies allow you the much-required financial support during a health crisis. Hence, investing in a suitable health plan is important to have a financial back up to support during such times. However, when it comes to buying a health plan, it becomes a trying task if you are not well aware. Thus, one must remember the Do’s and Don’ts of buying medical insurance plans to benefit most from a policy. Let us take a look at them in this post.

Do’s of Buying a Health Insurance Plan

1. Do check the coverage restrictions and clauses

While buying a policy remember that there are restrictions on coverage. Thus, you must check the waiting period clause and other restrictions as well.

  • The waiting period is the time when you cannot avail the benefits of your health plan
  • Check the waiting period applied on pre-existing diseases
  • Also check the initial waiting period and the waiting period for specific diseases 
  • Go for a plan that allows short waiting period so that you can start raising claims soon
  • Check for co-pay clause if it is there as well as for any restrictions on hospitalization expenses

2. Do consider your requirements well

Not all individuals or families are the same and their health requirements are different as well. So, do a good analysis of your family medical history and other medical needs, your age, etc., and accordingly purchase an individual or family medical insurance plan to suit the needs accordingly

3. Do read and understand the policy wordings

It is very important to read the policy terms and conditions very carefully to know the coverage limit, to know about the inclusion and exclusions and so on

4. Do check for a policy offering Pre- Post Hospitalization Coverage

While choosing a health plan, don’t forget to look for the pre-and post-hospitalization coverage along with other charges like domiciliary, Day Care costs, ambulance cover etc.

5. Do a thorough research

Yes, doing research about the plan thoroughly will help you in getting maximum benefits at minimum premium. So, check for more plans and their quotes before making the right choice

6. Do check for network hospitals

Do check if the health plan has the best hospitals or your preferred hospitals of the city included in its list of network hospitals

Don’t of Buying a Health Insurance Plan

1. Don’t hide medical history

While buying a medical insurance plan, give all the details of your health to the insurance company. Never hide any facts regarding your health condition since it could get you in trouble and in a dispute with the insurer at the time of settlement of claims

2. Don’t delay in renewing policy

Never let even a single day gap for policy renewal. This might nullify the policy and could make your cover useless

3. Don’t buy a plan without understanding the policy wordings

Never buy a plan only because someone told you that it is the best medical insurance, or if you do not completely understand its terms and conditions.

4. Don’t avoid extra cover when required

Always look for all round coverage from your health plan and to achieve this, purchase extra coverage or add-ons if required

5. Don’t pick a useless plan just to avail low premium

Never buy a plan without checking its important features just because it is offering low premium. Buying plans just for the sake of low premium might not help you in getting the required coverage during medical crisis

6. Don’t just rely on your employee health scheme

As a salaried employee you might receive health coverage from your employee. However, you must look carefully if your employee health policy is sufficient enough to fulfil all the medical requirements of your entire family. If not, you must avail another additional plan for better coverage

health insurance plan

Get ₹5 lac health insurance

starting @ ₹245/month*
*Terms & conditions apply

To Conclude

There are different types of co-pay clauses and insurance companies apply such clauses as per different scenarios. Some such clause include;As mentioned above, these are some Do’s and Don’ts of buying a health policy. A policy seeker must avoid such mistakes while opting for a health plan. Also, he/she should look for other important do’s and don’ts to be able to buy a suitable coverage at an affordable price.

health insurance

Get ₹20 lac health insurance starting

@ ₹600/month*
*$Terms & conditions apply

Frequently Asked Questions

To avoid mistakes while choosing the right health insurance policy, you can compare the plan online before buying it. This way you can check the coverage and benefits offered in terms of your requirement and the premium charged.

Not having health insurance doesn’t levy any penalty on you. However, it could end up in making you devoid of your savings during a health emergency. Also, in case of shortage of money, you may be restricted to getting the best treatment or end up taking loans etc.

Having health insurance allows financial security for you against health emergencies. You can be secured against situations like accidents, illnesses, hospitalization and so on. Also, you can get tax benefits. So, always stay covered under the best medical insurance in India.

There are various factors that determine the right sum insured for your health insurance, such as:

  • Age of insured
  • Number of dependents 
  • Health condition of insured individuals
  • Lifestyle of the people etc.  

Here are the things to consider:

  • Entry Age
  • Sum insured
  • Coverage
  • Pre-existing diseases
  • Wide network hospitals
  • Premium amount
  • Co-pay clause etc.

* Rs. 245/month is the starting price for a 5 lac health insurance for an 25-year-old male, with no pre-existing diseases.
*! Rs. 334/month is the starting price for a 10 lac health insurance for an 25-year-old male, with no pre-existing diseases.
*@ Rs. 12/day is the starting price for a 5 lac family health insurance for an 25-year-old male and 22-year-old female, with no pre-existing diseases.
*# Rs. 12/day is the starting price for a 5 lac health insurance for an 25-year-old male, with no pre-existing diseases.
*$ Rs. 600/month is the starting price for a 20 lac health insurance for an 25-year-old male, with no pre-existing diseases.
*^ Rs. 12/day is the starting price for a health insurance that covers coronavirus for an 25-year-old male, with no pre-existing diseases.