Not many may find it easy to buy health insurance online. The process involves deciding which type of health insurance plan to buy, comparing health insurance premiums of different health insurance plans online, checking the claim settlement ratio of different health insurance companies, etc., which sometimes can be pretty overwhelming. Due to this, people tend to make some mistakes when buying health insurance online, which might cost them a huge amount at the time of claim settlement and reimbursement. So that you know how to correct them or avoid these mistakes, here we have compiled a list of them to save your financial future from getting severely jeopardized.

1. Not Comparing Different Plans

To choose the best health insurance policy, it is important to check other similar alternatives as well. You may have some specific needs and financial background. And buying a health insurance policy only because your friend or relative has bought it, may not solve the purpose. Hence, you should buy the policy after assessing your requirements and comparing it with other similar options.

2. Getting Insufficient Coverage To Save on Premium

Choosing a health insurance policy with lower coverage to save on premium is a bad idea. It is wise to go for an affordable health insurance policy but considering only premium and going for insufficient coverage should be avoided. This is because if you compromise on health insurance coverage today, you may end up paying a lot from your own pocket in case of hospitalisation in future. And nobody would want that, especially with a health insurance policy in hand.

3. Hiding Pre-existing Conditions in Health Insurance Application

Hiding pre-existing conditions in health insurance applications is another mistake most people make which may cost them a lot in future. They may do so thinking that the insurance company would not take notice of it and they will be able to get reimbursement for the same. But this is not true. And to avoid any fraud, insurance companies offer health insurance plans with different waiting periods. Also, one must know that it is a misconception that if a pre-existing disease is declared in advance, then it would not be eligible for claims.

4. Over Insuring Yourself

In order to keep it safe, people sometimes over insure themselves and end up paying huge premiums that are not even required. A lot of diseases that health insurance plans cover are rare and one may never contract it. So, paying premiums for them is not a wise option. To avoid this mistake, you must read policy documents thoroughly and choose a plan with benefits that you require.

5. Inadequate Research About The Insurer

Many people do not give importance to factors like an insurer's financial history, claim settlement record, etc. before choosing the right insurance company. You must do adequate research as it tells about the credibility of the insurer. Also, you must read about the insurer on portals like InsuranceDekho to check the reliability of the insurance company.

Conclusion

When buying health insurance online, it is recommended to read policy documents carefully and make informed decisions. This will minimize the scope of making mistakes as well as keep you from losing peace of mind at the time of claim settlement. In case of any doubt or query, you must get in touch with the knowledgeable customer care executives at InsuranceDekho and get them solved in no time.