The question, “Am I eligible to get health insurance?”, may surprise many people. However, considering that only about 27% of the total population in India has health insurance, while 73% remain uninsured, the question should not appear too surprising. There are so many myths related to health insurance, one of which is health insurance is not for everyone.
Let’s bust a popular myth — health insurance is only for a select few. Health insurance is actually for everyone. Whether you are an adolescent or senior citizen, male or female — everyone can get health insurance. Your health insurance premium may differ though depending on your age, health condition, sum insured and so on.
I have a lifestyle-related illness, so, can I still get health insurance? Yes, despite lifestyle diseases, one can get health insurance with higher premiums or a waiting period or both. This depends on the underwriting guidelines laid down by the health insurance provider.
Several people push buying health insurance to a later stage in their lives as they are of the opinion that they don’t need health insurance when they are young and healthy. However, when they reach a certain age they believe that it is too late to buy health insurance. In reality, you are never too late to buy health insurance. The only time you may be considered late in buying health insurance is when you are lying on the hospital bed worrying about your mounting medical bills. IRDAI states that anyone up to the age of 65 should be offered health insurance, provided the health conditions of the prospect is acceptable to the health insurance provider. Some new-age insurers may also offer health insurance cover to people beyond the age of 65. So, better late than never.
The sooner the better. Why wait till tomorrow if you can protect your child today? Moreover, illnesses can come at any age, and if you are prepared to deal with them financially with a health insurance policy, the better treatment you can afford for your child.
Chances are that you might have a corporate health insurance policy from your employer, and, therefore, you are not interested in buying personal health insurance. However, are you aware that your corporate health insurance is only valid till the last day of your employment? Let’s assume you are moving from one job to another. If you happen to suffer from an ailment during this gap between jobs, corporate health insurance from neither your former nor your new employer will cover your medical expenses. In such a case, you can use your personal health insurance policy, and if you don’t have one, you will have to pay your medical bills from your own pocket.
One of the several reasons people don’t get health insurance is because they are not sure whether they would be eligible to get one.
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