Five Mistakes to avoid while buying health insurance | Money Doctor Show English

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people make many mistakes it is not because they did they don't pay attention but there are so many small utilities which people are aware of so in this episode today I'm going to talk about five such key mistakes which people commit which should be avoided to ensure that you get the right amount of Health Insurance coverage right kind of Health Insurance coverage so what are those

five mistakes you must stop doing it from today number one under insuring yourself under insuring means so what happens many people in the hurry you know they won't save premium they want to repay less the premium they buy under insurance I mean they buy less coverage which is not a good idea

which is going to keep you in trouble when you get hospitalized so what is the best way to do it there are two options to be you know there is a very interesting idea which can you know really work for you number one you buy a basic

Health Insurance coverage of maybe three-five lakh which you can afford to pay the basic Health Insurance coverage and then you buy another top-up plan for next 15 20 lakh rupee so what happens here is in the top of the plan, you don't really have to pay a huge premium so for a five lakh would be basic

Health Insurance coverage probably it may cost you fifteen-twenty thousand to be premium but for another 20 lakh rupee top of the premium the same premium it'll cost if you to buy 30 lakh rupee you know basic Health Insurance policies they need to cost you a lot of premium instead you buy a basic

Health Insurance plan for five lakh and buy a top-up plan for 20 lakhs so that idea here is when you buy a top-up plan for 20 or 25 lakh rupees the agreement between you and your insurance company said that we're in case if there's a claim over five lakh then this will kick in otherwise it won't because of the risk for them also is less so the premium is also less for basic coverage, of course, there is a risk because of any claim you will use this policy so do that don't under enjoy yourself

The second one is oh look the submit sub-limits because in Health Insurance company Health Insurance policy there will be a lot of subs limits like room rent ambulance charge pre-hospitalization doctor charges things many times you're going to look at all those fine prints then

the third one is ignoring the exclusions the hospital may say the Health Insurance policy may say accidents are not covered what do you do in that case so you look at all the list of exclusions then non-disclosure of previous you know healthy stream, for example, you are diagnosed with something in the past you went through a surgery in the past please disclose all that information if you hide that information then tomorrow when there is a claim you may not get the claim then the next one is imitating your friends and relatives Health Insurance you know plan which is a very bad decision when kids if you imitate like my friend is what this I will buy it see what suits your friend may not suit you so please don't blindly follow your friends or colleagues if you need any assistance in choosing the right

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