In the era of information overload, health insurance still has myths associated with it. A healthy lifestyle is a new trend these days with all kinds of exercise routines and diet fads. But a necessary investment that financially upholds you in medical adversity is still out of attention. Surprisingly, people only go on taking health insurance just for the sake of tax savings.
Health Insurance plans have been misconceived as many find them to be confusing. Some think one is needed at an old age and others feel that they do not need health insurance at all. No matter what age you are or how healthy you are, a health policy is a must. Here are a few health insurance myths debunked for you.
- Health Insurance is for Old Folks
A youth thinks that this time is for living in the moment and chasing dreams. What is the need to think about health issues that happen in old age? You can not be more wrong. A study suggests that lifestyle diseases are increasing swiftly in youngsters. Plus, you are at an advantage of lower premiums, extensive coverage, and going through a waiting period during a healthy age.
- Company Insurance is Enough
Many organizations provide their employees with group health insurance. Working professionals believe that it is enough to secure them in the event of a medical emergency. But the truth is that the sum insured may not cover your needs as it is generic. It is best to have one more policy for better protection in the future, irrespective of your job change.
- Health Insurance = Critical Illness Insurance
Health Insurance policies come in different variants as per the medical requirements of the policyholder. Acute diseases such as cancer, heart attack, stroke, etc., require expensive medical treatment that can disrupt financial security significantly. Critical illness insurance offers extensive coverage, including pre and post-hospitalization expenses. Unlike regular health insurance, the insured receives a lump sum amount right after diagnosis without the need for hospitalization.
- No Insurance for Pregnant Women
Well, this myth was right in the past. Many insurance companies did not provide maternity health insurance as it was unavoidable and had a high claim probability. But now, there are a lot of plans that cover pregnancy with some conditions. For instance, a plan may have a waiting period of two years or cover only the first pregnancy. Most plans cover both cesarean and normal deliveries.
- 24- Hour Hospitalization
This is a widespread myth that people often ask. A 24- hour hospitalization is no longer mandatory for claiming the sum assured. With the advancement in medical sciences, many procedures require less than a day. Also, daycare procedures such as chemotherapy, dialysis, eye surgery need only a few hours of hospitalization. Many policies now include them, and one can avail the claim hassle-free.
In conclusion, various policies are available in the market. An individual should select a policy that offers sufficient coverage at an economical premium. Health insurance is a practical way towards a healthier, stress-free future. So, it is vital that wrong notions and myths must be done away with.