Buy a Life Insurance Plan in a few clicks
Now you can buy life insurance plan online.
Insurance and Investment in one plan.
Protect your family's financial future.
Kotak Guaranteed Fortune Builder
A plan that offers guaranteed income for your future goals.
A plan that works like a term plan, and Earns like ULIP Plan.
Kotak Assured Savings Plan
A plan that offer guaranteed returns and financial protection for your family.
Kotak Assured Pension
A plan that offers immediate or deferred stream of income
Kotak Lifetime Income Plan
Retirement years are the golden years of life.
Kotak Guaranteed Savings Plan
A plan that offers long term savings and life cover.
Our representative will get in touch with you at the earliest.
Ref. No. KLI/22-23/E-BB/492
Often health insurance is perceived as confusing and limited by people. Here, we are debunking six common myths about buying health insurance in India.
With a global pandemic at large, people have become more cautious of where they invest their money and how they protect their health. When it comes to safeguarding health while ensuring not to drill holes in your pockets, health insurance plans prove to be one of the most dependable and beneficial solutions. Of course, buying life health insurance is an important decision, and you must have tried learning about its features, how it works, who can take it, etc. Though the information acquired from various sources cannot always be relied upon. False information, inaccurate facts, and incomplete data can confuse you and give you wrong ideas.
With this article, we aim to debunk a few of such myths associated with health insurance.
We often assume that the plans with the lowest premiums will be the best ones. However, this may not always be true. Lower medical insurance premiums might seem pocket-friendly but may only have a few basic benefits. Paying a slightly higher premium may get you a larger sum assured and additional benefits. Ensure that you choose as per your requirements to arrive at a suitable solution.
Though smokers are prone to health hazards, most insurers extend medical insurance to them. However, as the risk is high, smokers and alcohol consumers have to pay a higher premium and undergo strict pre-policy medical checkups.
It is an added incentive that the company covers you under their purchased medical insurance policy, however, it may not always be sufficient. This may be either in terms of the amount that you are getting as your coverage or because the coverage is limited to the period that you work with the particular company. Therefore, it is often recommended to have your own individual policy.
Earlier medical procedures would take more than a day, however, due to technological advancement and progress made in the healthcare industry, today we do not necessarily need 24 hours for every procedure. This has led health insurance plans in India to incorporate cover for the procedures under 24 hours.
This may seem like one of the most obvious notions, because people misunderstand health insurance as the means to alleviate all the financial burdens concerning medical assistance. However, health care insurance policies come with their set of terms and conditions. They either have exclusion of certain treatments or include a co-payment clause, where the insurer only covers a certain amount and the rest is to be paid by the policyholder.
No matter how frequently you hit the gym and how well maintained your diet is, unforeseen incidents such as accidents and life-threatening illnesses like dengue, malaria can hit anyone at any age. It is important to note that hospital bills are not as easy on your pockets as before. Depending on the severity of your ailment, a single day at a hospital can hugely impact your savings, making health insurance a must-have for you.
It is advisable to choose your policy keeping all the above-mentioned points in mind. People sometimes tend to buy or stay away from these plans without being fully informed about all their features, terms and conditions. It is better to know what you are getting into to stay on top of everything!