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Demystifying Common Health Insurance Myths in India

Health insurance is an important investment option that you should opt for early in life. It enables you to be better prepared in case of a medical emergency and avert any kind of financial constraints. However, there are misconceptions surrounding medical insurance that can deter some individuals from buying it. So, let’s explore some of the health insurance myths and debunk them.


  • Myth 1: Health Insurance isn’t Required When you are Young and Healthy

The perfect time to opt for health insurance is when you are fit and young. As individuals age, they start suffering from lifestyle ailments or age-related illnesses. The symptoms of such diseases aren’t visible until later in life. Thus, it is essential to safeguard your health with the right insurance policy.

Moreover, you don’t have to suffer from any disease to buy health insurance. Mishaps do not come knocking on your door and can affect anyone at any time. To ensure you are financially protected during such unfortunate events, health insurance is a must-have.


  • Myth 2: Hospitalisation Expenses are Covered From Day 1

A common myth regarding health insurance is that you can avail hospitalisation benefits from day one. However, every health plan comes with a waiting period of one month on policy inception, except for in case of an accident.

If you are hospitalised for some reason immediately after the purchase of the policy, your insurance provider will not cover it. You will have to wait until the waiting period gets over to start enjoying the perks of your insurance. Therefore, it is recommended to confirm the waiting period for your plan on purchase.


  • Myth 3: Insurance Covers the Entire Hospital Bill

Your insurance provider will only pay for the actual amount incurred for the treatment. Moreover, certain out-of-pocket expenses won’t be covered under your health plan. Consumables such as the thermometer, oxygen mask, and face mask might not be covered by some insurers.

Furthermore, insurance policies have pre-defined limits on features like the room rent cap. If you select a hospital room higher than your eligible limit, then you will need to pay for the additional expenses. Some hospitalisation costs may fall under exclusions and thus, they will not be reimbursed during claim settlement. So, it is crucial to read your policy documents carefully to avoid such extra expenses.


  • Myth 4: Pre-Existing Diseases are Not Covered

Most medical insurance plans cover pre-existing ailments. However, to get these diseases covered, there is a waiting period applicable ranging between 2 to 4 years. Thus, it is important to disclose your health details and medical history at the time of policy purchase.

In case you hide any information, the insurer has all the rights to reject the claim. Many policyholders might withhold such details to get a cost-effective premium. However, this can lead to problems in the future if you were to suffer from any conditions that the insurer wasn’t aware of.


  • Myth 5: Group Health Insurance is Sufficient

Organisations offer their employees a group health insurance plan at a low or zero cost. Some employers might allow you to cover your family under the plan at an additional premium rate. However, something that individuals fail to consider is, what happens when you leave the company? You will be dependent on the next organisation’s health plan which won’t be customised to your insurance needs.

With an individual health policy, you can select the right coverage amount and purchase add-ons based on your requirements. Thus, it is important to have an insurance plan of your own as the group health policy isn’t sufficient.


  • Myth 6: Affordable Health Plans are Best

Health insurance with lower premium costs may not always be the best when it comes to securing you. Though it is recommended to compare policies based on premium rates, opting for a cheaper plan isn’t recommended. Furthermore, many such health plans come with restrictive features or do not cover many crucial aspects that you require.

So, you shouldn’t compromise with your health insurance plan for a low-cost premium. Ensure you get a high coverage policy that covers you sufficiently and offers lucrative benefits.


With this, you are now aware of some common misconceptions regarding health insurance in India. To make sure you are always protected during medical emergencies, it is advised to opt for a suitable health insurance policy. Head over to Finserv MARKETS and browse through the available plans. With lucrative add-ons, high coverage, easy renewals and more, you can count on us when it comes to your health! 

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FAQs on Myths About Health Insurance in India

  • ✔️Can I get health insurance if I smoke or drink?

    Yes, you can easily get health insurance coverage in case you smoke or drink. However, the insurance premium quote would be higher in comparison to a non-smoker’s health plan.

  • ✔️Do I lose all the health insurance benefits if I fail to renew my plan?

    No. If you fail to renew your health insurance plan within the due date, you can still do it in the grace period. But if you were to miss the grace period as well, then you shall end up losing the insurance benefits.

  • ✔️Is it safe to buy health insurance online?

    Yes. Most insurance companies now offer insurance plans on their website. Thus, you can easily purchase health insurance online at an affordable premium price.

  • ✔️Are pregnancy-related claims not covered under health insurance?

    Pregnancy-related claims are now covered under the maternity cover offered by health plans. However, such a cover has a waiting period and hence, it is advised to plan such claims in advance.

  • ✔️Is it mandatory to be hospitalised for 24 hours to raise a health insurance claim?

    No. With technological advancements, it is now possible for various surgeries and medical procedures to be completed within a few hours. So, it isn’t necessary to be hospitalised for 24 hours.

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