Health Insurance is of utmost help when you need financial assistance in case of a contingency. It protects you from all health-related emergencies. In addition to it, the increasing number of diseases and medical inflation has made it necessary to get health insurance in India. Health issues can happen to anybody. In this situation, it is equally important to manage your healthcare expenses.
A single hospitalization can drain your savings. With the help of health insurance, you can avail of the facility of cashless treatment that allows you to get quality treatment without worrying about the finances.
Despite having numerous benefits and so much awareness from the government, many people still do not opt for medical insurance. Let us know some of the reasons why people avoid buying health insurance.
- Misconception of not Developing Any Ailment: It is an illusion to think that you will not develop any illness in the future. However, this is not true. The environment in which we live today is not at all healthy. The inactive lifestyle is making you prone to a number of lifestyle diseases. If you are healthy today, it does not mean that you do not need a health cover in your life. Medical emergencies come without notice, in such a situation having a health cover acts as a savior.
- Dependence on Group Medical Cover: This health cover is provided by the employer offering coverage to the employees and their families. It is beneficial; but, it has certain restrictions. Thus, it is important to opt for an individual health cover or a family floater health insurance.
- Lack of Knowledge: Most of the people depend upon their savings to cover their healthcare expenses. Also, there is a lack of awareness among the Indians because of which a minimal number of people are insured. Not only this, some people also think that it is not worth buying one as they are not getting anything in return. However, this is not true. One knows the value of medical insurance only when they end up spending a considerable amount from their savings.
- Misconception about Affordability: Many people think that buying a health cover would be expensive as they have to pay premium regularly. Well, you don’t need to worry as there are health insurance companies like Care Health Insurance that offers the best health insurance policies. Not only this, even the IRDAI has also allowed monthly, quarterly and yearly payments of premium by making it cost-effective for the customers.
- Rejections of Claim: This is one of the common apprehensions among Indians that the claims can be rejected. However, if you consider Care Health Insurance as your insurance partner you would not face this difficulty as it is able to maintain a good claim settlement ratio. The company has successfully settled 93% of insurance claims in the financial year of 2019. For more knowledge, customers must reach out to the support team of the insurer, and they would help them.
Final Word
Because of the reasons mentioned above, many Indians still do not opt for medical insurance. As health issues are increasing, even affecting the younger people, due to the changes in the lifestyle and various other factors. Therefore, having health insurance in India is a must as not only acts as a financial cushion; but also ensures peace of mind.
We would like to bring an example of the on-going global pandemic. From the last few months, coronavirus has affected the lives of many people. During this outbreak, many people have started prioritizing their health. Apart from following essential hygiene tips, they have started opting for medical insurance.
One must do proper research and opt for a health cover that is apt for you. If you are looking for the best health insurance policies, you must choose for Care Health Insurance as they offer comprehensive health insurance plans. Buying a health cover at the earliest secures you and your family against the rising cost of treatment to a great extent.
Disclaimer: Underwriting of claims for Disability is subject to policy terms and conditions.
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