The importance of buying a health insurance plan for protection against rising hospital costs is a well accepted fact now.
However, selecting the right plan or choosing the right add-ons etc may not be easy at times, as there are several myths surrounding the purchase of health covers. It is always better to clear some air before making the right moves. Here are few health insurance myths that needs to be spoken about.
Myth 1: The cheapest policy is the best policy
Unlike a term life insurance product which comes at lowest cost and provides maximum life coverage, an attempt to find the cheapest health plan may not be the right thing. Most health plans within the same category have similar basic features. Plans may differ in terms of add-ons and some features. Look for plans with no or lesser sublimits. Importantly look at the list of hospitals it covers and whether it is empanelled to the preferred provider network. In case not, ensure you have cashless treatments in the hospitals around your area. The premium should be the last factor to consider among the final few plans that you decide for.
Myth 2: I have a group insurance so I don’t need a separate policy
For many of us who are medically covered by employers, they still need to be cautious. If you have group health coverage from your employer, continue with it. Look at the coverage amount and see if it suffices. But, remember this group cover will continue as long as one is in the job. In such case you and your family may be stranded if a medical emergency arises and you have not arranged for an alternative health insurance policy. Another independent mediclaim policy will give you not only additional cover but also cover the risk period when you are in between jobs.
Myth 3: If I don’t renew on due date, all benefits gets lost
Bu hikaye Investors India dergisinin March 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Investors India dergisinin March 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
5 Steps To Achieve Your Financial Goals
From a beach house, a Jaguar, to traveling the world – there are many things in life that we want to accomplish.
Microbiome: The Invisible Ecosystem Within us that Safeguards our Health
Imagine being able to heal yourself and build immunity against major diseases without relying on heavy medication. It sounds fantastic, right? Who wouldn’t want that? The key to achieving this lies in a fascinating area of research—our microbiome.
Gold ETFs: Attractive option for retail investors to take exposure to yellow metal
With the equity market experiencing volatility in August, investors are increasingly seeking to diversify their portfolios.
The Retail Revolution: How India's Stock Market Got a Makeover by the Common Man
In the annals of India’s financial history, the stock market has long been the playground of the big boys—mutual funds, insurance behemoths, and foreign portfolio investors (FPIs).
Strategies to adopt when the markets are at a high (for new and existing MF investors)
An investor must have a plan in place and, more importantly, stick to it regardless of shifting market conditions.
A Collaboration to keep Health FirstPNUT and IDA come together as One!
You reap what you sow! And if you sow health, you will reap a healthier tomorrow. Following the same lines, Personal Nutrition (PNUT) and Indian Dental Association (IDA) have come together as partners to promote complete health and nutrition for each individual! How things unfolded? Let’s explore.
Making a choice between equity and debt mutual funds for long-term goals
Mutual funds are quickly becoming a preferred investment choice for millennials.
ASK THE EXPERT
From last Financial Year, I have shifted to the new Tax Regime.
Flexi-cap Fund Vs Hybrid Fund
Investors in mutual funds can choose from equity, debt, or hybrid funds, each offering different risk and return profiles. Flexi-cap funds provide diversification across market capitalisations, while hybrid funds balance equity and debt for stable returns.
Neuroplasticity: You Can Teach An 'Old' Brain New Skill
A few decades ago, it was believed that the brain’s structure and functions were entirely dependent on genetics, age, and early childhood experiences.