Why is it Important to be Honest When Buying Health Insurance?

• Written by Care Health Insurance

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Mr. Ramesh Raheja did not disclose the health insurer that he is suffering from hypertension at the time of buying his policy. After a year, Mr. Raheja was hospitalized for the treatment related to hypertension. The insurer declined the claim on the basis that the policyholder didn’t reveal that he is a hypertension patient. 

There are many people who do not reveal their health condition and then land into a problem. 

It is always said that you should be always honest to your lawyer and doctor. The same principle applies to your health insurer too. One thing upon which the foundation of the insurance lies is trust. Otherwise, you may have to bear repercussions for the same. Disclosing your personal information correctly is must when buying medical insurance. The health insurance premium and coverage are based upon disclosure of facts like your age, health, lifestyle, and many other factors. The insurer considers each information with respect to any of the previous or current medical condition. This information helps the insurers to reject false claims.   

Repercussions To Bear In Case Any Information is Incorrect

Transparency and disclosing all correct information is very important, else it can make the medical insurance invalid and you will not be able to make claims in the future. Therefore, giving complete information regarding health issues is very important. Rejection of claim can be a massive setback for the policyholder’s family. 

Factors to Keep in Mind

Before buying a health insurance policy, make sure to keep the following things in mind:

• Be sure to opt for the sum insured and the cost of the health cover. Always remember, the health insurance coverage should be increased timely because of medical inflation. Thus, it is essential to review your medical insurance regularly. 
• Be honest and tell the truth when filing the details. If you are suffering from a pre-existing disease, then make sure to mention it. To avoid claim rejection, disclose the information related to pre-existing disease and every other detail correctly. 
• You can also opt for a health cover with a short waiting period so that your illness is covered within time. 
• Make sure to check the track record of the health insurer, particularly the claim settlement ratio in the previous year, before opting for health insurance. 

Conclusion

The foundation of the insurance is based on the rule of trust, so be honest when it comes to buying a health insurance policy. While filing the proposal form, provide accurate answers, especially in the case of pre-existing illness. If you are having a doubt, then ask the insurer or the customer support team for any clarification. 

We have been hearing the idiom, ‘Honesty is the best policy’ for ages. It is time that we must apply it when buying medical insurance too. Having a health cover is like a ray of hope for you and your family during financial distress.  

If you are looking for the best health insurance plan in India, you can rely on Care Health insurance. Support us to make things easier for us, and we will support you in your tough time.

Disclaimer: Plan features, benefits, coverage, and underwriting of claims are subject to policy terms and conditions. Please refer to the brochure, sales prospectus, and policy documents carefully.