The reasons you require health insurance
Of late people have gone on to take a liking towards the best health insurance plan. A reason for the same is that they have understood the risks and consequences of not being insured. But still there is a category of people who would be shy for opting for health insurance for heart disease or it can be a med claim policy. When an individual is aware about the importance of health insurance, they can take a series of steps. But for all those who are sceptical there are some issues with health insurance, and you should not plan to skip it at any juncture.
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Lack of quality care
Everyone is not going to have a solid financial burden when a disease would come calling on their door. It would be fundamental that an individual gets quality healthcare. But due to lack of funds he or she may be deprived of the same. The moment you have the right type of health insurance plan in place you would be shielded from such type of situations.
An increase in financial burden
A health problem can emerge in any form or direction, be it accident, healthcare or irrespective of what it is going to be. One thing is for sure you are not burdened with hefty health care bills after opting for a health insurance plan. Hence it is advised to have a personal or a family health care insurance plan that would be relevant to have a coverage in place.
During emergency when someone is hospitalized there are a lot of things to worry. A health insurance keeps the most important thing at bay which is paying the hospital bills. A lot of hospitals would be providing an option of cashless hospitalization which would be nothing to worry about. The insurer is going to settle the bills which the sum insured.
Losing out on tax benefits
As per relevant sections of the income tax act it is possible to avail tax benefits on insurance premium. It happens to be a key benefit that a health insurance plan is going to offer. But if you do not have an insurance plan in place you end up losing out on saving tax from this component. It is true that health insurance is an investment but it would protect us from future worries
Mistakes to be avoiding when you are purchasing health insurance
A health insurance which is comprehensive would enable you to live a healthy and stress free life. Taking matters into consideration it is not proper to be choosing a health insurance policy as per your needs. It is necessary to reassess all the components which are part of a health insurance plan. But there seems to be some signs which you need to safeguard when you are purchasing an insurance plan.
Terms and conditions with exclusions
There are numerous terms along with conditions which a buyer needs to be aware when they purchase a health insurance plan. A fine print is going to include the cancellation of no bonus or the void of coverage under given situations. If there is a misunderstanding of the terms along with conditions it may lead to unfavourable situations. Hence it is suggested that you need to choose Care Insurance on all counts. An example is most cardiovascular diseases are not covered by most policies. What it means is that coverage of two years is essential before the policy would come into effect.
Every health insurance will not allow an individual to go through a lock in period. Normally the period would be lasting for around 15 days. What it means that after purchase of the policy you are going to get 15 days to observe the fine print of the policy. If any condition is not acceptable to the policy holder they would very well return back the policy. It is imperative all the policy holders check the details of the policy before they purchase a policy.
Declaring medical history
It is fundamental that you declare your medical history when you are purchasing a health insurance policy. People end up paying attention to low premiums and end up purchasing policies where they do not disclose the existing medical conditions. It can be a cause of concern as the insurance company may reject a claim if they feel that wrong information was presented at the time of purchasing a policy.
Most of the health insurance plans are made in good faith where the policy is provided based on the information that is given to a user. A better way to deal with all situations is to present a comprehensive information about the policy to the user in details.