The online space has opened up many advantages for us. One of them is buying health insurance. You get to purchase your health cover in a quick and convenient manner. You also find the health insurance plans at much cheaper rates. Then, it is easy to pay the premiums, get the cover renewed and also file for claims. You can do all this with just the click of a few buttons. You should therefore definitely consider buying your health cover online. There are however a few factors to keep in mind when exploring the world of online health insurance. Read on to know more.
DOs and DON’Ts of buying health insurance
Like mentioned above, there are a few things and should be cautious about when buying the health insurance plans online.
- Compare: It is absolutely vital for you to compare the available options before you buy a health plan. Comparing helps you find the best plans at the best rates. So rather than buying the first policy that you come across, take some time to compare and choose your best option. Websites like Coverfox.com offer a good platform for comparing the health insurance plans from top-notch health insurers.
- Be honest: You have to be honest when buying health insurance. If you have an illness or even a family history of the illness, make a declaration at the time of application. Also be honest about your age, your income and your other family details. This will prove to be highly beneficial at the time of a claim.
- Look for an appropriate cover: This is one of the most significant things for you to do when buying your health insurance plan. You must look for an appropriate cover. There are different kinds of health insurance plans and you must see which one caters to your needs. Go through the policy wordings, understand the cover and then finalise the perfect health insurance policy for yourself.
- Hide facts: This is the biggest DON’T in the world on health insurance! Do not conceal facts when buying a health insurance plan. If you are a smoker, mention it to your insurance provider. Your premium amount may go up, but you will be assured of a successful claim. If you have any other lifestyle or existing health issues, be completely transparent. Else, your claim will surely be rejected later on.
- Let your policy lapse: This is another major thing for you to avoid. Renew your health plan well within time to avoid a lapse. You never know when danger will come knocking. As a result, even a lapse of one day can spell trouble. So stay covered and keep yourself and your loved ones protected against every health challenge that life throws. Coverfox sends you timely reminder for policy renewals.
- Buy excess health insurance: Many people have the habit of buying too much health insurance. While a large health cover is always desirable, it is also redundant and unnecessarily adds to your expenses. If the health insurance plans get too expensive because of the huge sum insured, you may end up defaulting on it and losing your health cover altogether. It is therefore important for you to assess your needs and then select the right health cover.
How is health insurance different from life insurance?
Health insurance and life insurance are very different from each other. The main difference is that one gives you the claim when you are alive and the other pays the claim out after your death. Health insurance helps you fight your health problems and live a healthy and secured life. Life insurance on the other hand gives monetary relief to your loved ones after your demise.
It is very important for you to not mix up the two types of insurance. A health insurance plan cannot be a substitute for a life insurance plan and vice-versa. You need both the insurance covers and so ensure you have a life cover as well a health cover in place at all times.
The health insurance plans are highly beneficial. You however need the right kind of plan and also need to exercise some caution before making a purchase. You also should never mix up the concepts of life insurance with health insurance. The health insurance plans are easily and widely available online. This makes it simpler for you to protect your health and finances in a suitable manner.