Here are some of the common mistakes one should avoid while buying a health insurance policy.
- Focusing only on premium: low premium should not be the only criteria while selecting health insurance. Rather there are other factors like size of cover, tied up hospitals in your area, exclusions, room rent limit etc should also be considered. You may get a cheap cover but that may not solve your purpose. In that case you may not get the claim covered.
- Hiding existing disease and medical background: Many people hide their medical history like the existing diseases at the time of buying a health cover. This is done mostly to avoid paying more premiums. But that is not right and results in rejection of claim done. In case of existing disease, insurers mostly have the clause of waiting period which means claims can only be made after certain period of buying a plan.
- Not going through the details of the policy properly: Most of the time people don’t go through the fine details of the policy like their terms and conditions etc. It can be a big mistake as it contains the details about when your claim can be approved or rejected. You should always go through the details like limit on room rent, duration of waiting period for initial and pre-existing diseases, pre- and post-hospitalisation expenses. So take time to go through all the terms and conditions.