The Biggest Lies in Context to Health Insurance

A health insurance policy is very much important in the current scenario where people are following an unhealthy and improper lifestyle. And with the advancement in technology, now we have options to choose from offline and online mode of buying a health insurance policy. But contacting an agent for a health insurance policy is one of the most traditional ways of buying a policy and it is still prevalent. Most of the people trust their insurance agent while the agents focus on their commission instead of helping the buyer to make an informed decision. The agents even lie to the policyholder to push the product which gives them the highest commission, which leads to bad surprises for the policyholder in the near future.

1. All Pre-existing Diseases are Covered

If the agents know that you are not aware about the terms and conditions of a health insurance policy and not bothered to go through each and every clause of the policy then he can mislead you easily. And one of the biggest lies in the context of the health insurance policy told by agents is a cover for all the pre-existing diseases. It might sound very fascinating, but it’s not true. None of the health insurance policies give cover for all the pre-existing disease. There is a list of pre-existing diseases which are covered under the policy and is clearly mentioned in the policy brochure and cover for these diseases come with a waiting period.

2. Best Plan offering Lowest Premiums

The agent will only sell you the plan that offers him highest commissions. However, the fact is there are various insurers in the market offering almost similar health insurance plans at varying premium amount. Competition makes them offer attractive deals and lower premiums, but you have to check them on your own rather than just relying on your agent.

3. Plan Covers all Medical Expenses

In the search for small premiums, they compromise on the coverage that you deserve. They would claim that your plan covers everything, but sometimes a health plan may not cover post-hospitalization expenses or some routine medical tests that may prove costly for you. Better to find out yourself than blindly believing the agent.

4. Policy Offer is for Limited Period

To make you decide in a hurry, so that you will not get enough time to think, the agent might say that there is a special offer in the policy which is available for a limited period of time and if you will not buy it soon, you will miss that special offer. But that’s not true. Benefits and offers of Health insurance policies are not like the discount on clothes, which will come and go. If there is a special benefit in a health insurance policy, then it will stay there, regardless of any time limit. So don’t rush for buying a health insurance policy on such misleading information.

5. Best Fit Policy as Per Your Need

Since the agent’s interest lies in selling you a policy, he would claim that the one he is offering you is the best one for your requirements. Regarding policy features, premium and coverage nothing can beat this policy and he has brought it to you after lots of research. The fact is this policy will give him maximum returns! There is no one fixed policy for you. Rather, there are various insurance plans that can also be customized as per your needs. It is up to you to find out about them and then select the one that best suits your requirements.

Dependence on insurance agents is not new. It happens because we are busy, not aware about insurance industry or plain lazy. However, it is high time that we take control over our insurance needs as any decision directly impacts us. The agent will not get affected in any manner if we happen to buy an insufficient health cover or a wrong policy for our family. The best thing you can do is doing a thorough research about insurance products online, compare various plans based on terms and conditions and premium payable and then take a decision regarding buying a plan that offers maximum health insurance benefits to you.

Trust yourself rather than an agent for the insurance needs that can bring a difference in your life!

Harjot Singh Narula

Harjot Narula is founder and CEO of ComparePolicy.com, an IRDAI approved insurance web aggregator focussed on selling online insurance for companies. Harjot has more than a decade of experience in software development and has also spent 5 years in US working for the mortgage and risk management industry.

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