Mistakes you should stay away from while buying Health Insurance policies

With the growing popularity of online insurance , there is no dearth of health insurance policies in India. You can easily compare health insurance policies and get the best health insurance in India in a few minutes. Online insurance has indeed made the job of finding the beast health insurance policies lot easier. However, while venturing out in the world of online insurance policy seekers often make some mistakes. So, if you are looking for health insurance policies and all set to compare insurance online you should avoid making the following mistakes.

Buying medical insurance with inadequate coverage

Many people compare insurance only to find out the cheapest available plans. To keep the premium expense low, they miss out on significant coverage that they might need in time of an emergency. You, therefore, should not compromise on coverage while selecting online insurance for health.

Hiding medical history at the time of availing health insurance policies

When you are going to buy health covers be it an online insurance or a traditional policy you must not hide your medical history, if any. If you hide important information about your health you will not be denied at the time of claim but suppression of facts might even be considered as a fraudulent activity.

Investing in health insurance only to save tax

Many people buy health insurance only to minimize their tax liabilities which is not the right approach. You should buy health insurance policies to safeguard you and your family. Tax deduction takes place consequently but it is not the sole motif behind investing money in medical insurance. Those who avail online insurance for health usually end up buying health insurance policies with insufficient coverage.

Ignoring zone-based restrictions

While buying health insurance polices, many people ignore this crucial aspect. The premium for online insurance for health is comparatively lower in a cities belonging to second and third tiers than first tiers. You should select the zone where you are willing to get treatments because many providers impose restrictions on coverage if their customers get health insurance policies from one zone and seek treatment in another.

Not keeping the the co-pay into consideration

Many online insurance for health comes with a co-pay clause which means policyholders have to share the amount of the claims they made. This amount is chosen and paid by the customers at the time of claim of their respective health insurance policies. Although, this clause helps policyholders pay less premium but ultimately proves to be a nightmare when an emergency strikes. Hence, you should try and compare online insurance for health and find out health insurance plans without co-pay clause. You might have to pay a bit higher premium but you will remain worry-free at the time of a claim.

Skipping the fine print of health insurance policies

All health-insurance plans come with a document where all details about the policy is mentioned. Most policyholders go through the the coverage part and skip the rest. But , it is prudent to read the document of the policy thoroughly be it an online insurance plan or being purchased from a brick and mortar store. You should be aware of the catches that come with your medical insurance so that you stay prepared and look for ways to deal with the fine prints.