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Common Myths About Health Insurance And Why They Are Not True

Common Myths About Health Insurance And Why They Are Not True

In India, many families could lose their hard-earned lifelong savings with just one hospitalisation. Hence, every family should purchase health insurance and avail of health insurance benefits. You should select the ideal family health insurance plan based on your family’s requirements. It would help if you cleared up any misconceptions and thoroughly understood the health insurance product and processes to accomplish that. You can now manage all aspects of your health insurance policy using a health insurance app in India.

Common Misunderstandings About Health Insurance

  1. Children And Young, Healthy Adults Do Not Need Health Insurance

Please be aware that viruses and illnesses do not care if someone is young, old, or between. Many healthy individuals suffered during COVID-19 and had to undergo hospitalisation. Similarly, accidents can happen to anyone, regardless of age or health. Therefore, irrespective of age or health, everyone should consider health insurance.

  1. Employer-Provided Health Insurance Is Adequate. You Do Not Require Individual Health Insurance

Only while employed by a company will your health insurance be valid. Corporate health insurance policies frequently have limited coverage and may include a co-payment provision. Only the employee and not their family may be covered by the plan. The employer can decide whether to keep the policy in place.

  1. Health Insurance Is Only Useful To Reduce Taxes

Yes, there are tax advantages to having health insurance policies for families. However, that is an added advantage. The main objective of health insurance is to protect your finances from potential costs associated with the hospitalisation of a family member. Additionally, you are eligible for tax benefits for preventative medical exams up to certain limits. These health check-ups assist you by monitoring your current health status and taking action if an illness is reported even in its early stages. **

  1. The Claim Will Only Be Paid If You Are Admitted To The Network Hospital For At Least 24 Hours

While most procedures necessitate at least 24 hours in the network hospital, some can be completed sooner. These actions are referred to as daycare actions. These include appendectomy, piles surgery, radiotherapy, chemotherapy, tonsillectomy, and cataract surgery. The majority of healthcare plans today have daycare services.

  1. Cashless Medical Care Is The Only Option

Network hospitals are hospitals where patients can receive care without paying cash. Insurance companies are expanding the network hospital coverage as much as possible. However, it is not always necessary to be treated at a network hospital, especially if you do not have one accessible to you. You can consult your insurer to see if you can opt for a hospital that is not a part of the network.*

The distinction is that they must pay for the hospitalisation out of pocket first, submit all bills and reports, and then wait for the insurance company to reimburse them. So, rather than being paid in cash, the claim will be refunded. Before and after purchasing a Mediclaim policy for your family, take the time to understand the policy terms. Claims are subject to terms and conditions set forth under the health insurance policy. *

A health insurance app in India assists you in taking charge of your health insurance even on the move.

Get insured anytime, anywhere! Check out the Bajaj Allianz General Insurance website to learn more and download the app now.

* Standard T&C Apply

** Tax benefits are subject to change in prevalent tax laws.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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