The Repercussions of Not Investing in a Health Insurance Policy

The number of people falling sick or contracting major diseases is indeed increasing every day. Along with the government of India, insurance companies are also are trying their best to reach out to maximum people and spread awareness about health insurance policies. However, this is not as simple as it seems and will need time, dedication and efforts too. Not many people here in India are aware of the importance of health insurance plans. Most of the population from the rural areas must have no clue about the benefits these policies have to offer. While the remaining avoid purchasing it due to the premiums. People also skip buying a health plan because it is not mandatory to purchase one in India. It will be great if more people knew how health insurance has become the need of the hour and should not be treated as an option anymore.

There are several challenges or consequences that you can face if you do not invest in a good healthcare plan. We all must agree to the fact that life is unpredictable; if you’re healthy today, there is still a chance for you to contract a serious illness tomorrow looking at how drastically the lifestyle of people has changed over the years. If you do not have a policy, your medical expenses will remain uncovered, which can put you into a serious financial risk.

Life-threatening diseases are everywhere, and so living under the assumption that if you’re healthy and so you don’t need a health insurance policy is wrong! The money that you earn after working so hard is definitely not for spending on the long hospital bills. Keep that aside for yourself, and invest a little in buying an adequate health plan.

Not just that, an unfortunate accident can leave you hospitalized & unable to generate income for your financial security. Well, in this situation it will be best to have personal accident insurance. An earning family member may fall sick and this could have a burden on finances & savings. This would call for investing in a family health insurance plan that covers all your loved ones. All of these situations might arise suddenly without a warning. However, these incidents do have the power to drain all your savings within no time. On the other hand, if you have a health insurance policy, the insurer will take care of all the hospitalization expenses, along with ambulance charges, day-care procedures, etc.

Another repercussion of not investing in a health insurance policy would be not getting the advantage of enjoying the cashless treatment. Every health insurance company has tie-ups with various hospitals, also known as ‘network hospitals’. If you get hospitalized in any one of these network hospitals, you can avail of cashless health insurance, which means all the medical bills will be settled by your insurer with the hospital directly and you don’t have to worry about a thing.

Moving on, some people who already have an insurance policy can remain uncovered too. This is because they rely heavily on employee group health insurance. You should know that these are basic types of health plans and won’t cover major illnesses. Therefore, it is advised that even if you have an employee mediclaim, purchase an individual health insurance policy as well, just so you remain covered completely.

Health insurance policy could be easily bought online in a few clicks, without facing any hassle. All you need to do is add a few details and make the payment on your preferred insurer’s website. Purchase the policy only after you’ve done thorough research.

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