Claim Assistance
Get In Touch
Health Insurance Myths
Nov 25, 2023

Dispelling Everyday Health Insurance Myths

Protecting one’s health and that of their loved ones is a universal priority for everyone. While you may start practising a healthy lifestyle, no lifestyle is complete without medical insurance. But for many, health insurance plans can be a complex and often confusing topic. Many people hold misconceptions about how the policy works. This may lead to frustration and financial difficulties when it comes to managing healthcare costs. In this article, we will dispel some common myths related to the policy to help you better understand your coverage.

Health Insurance Myths You Should Not Believe

In this age of misinformation, it is easy to get influenced by wrong information. This can rob you of getting medical care with the help of health insurance plans. The following myths and facts can help you make informed decisions:

Myth #1: I am in my early 30s. Why would I need insurance?

It's a common belief that people in their early 30s do not face the risk of potential health problems. So, it may seem that they are generally healthy and don't need health insurance. However, accidents and unexpected illnesses may happen. Having health insurance provides financial protection and ensures that you can access necessary medical care without incurring exorbitant costs. Claims are subject to terms and conditions set forth under health insurance policy.*

Myth #2: Not all policies have a waiting period

A common misconception is that policy coverage begins from the first day. This, however, is not true. All health insurance policies, for example, health insurance with maternity coverage, have waiting periods. Depending on the type of policy, the waiting period ranges anywhere between 1-3 years. Even for policies that offer cashless hospitalisation, such as a Mediclaim policy, the waiting period is the same. Claims are subject to terms and conditions set forth under health insurance policy.*

Myth #3: My employer’s medical coverage is more than enough

Employer-sponsored health insurance typically involves cost-sharing between you and your employer. While your employer may cover a significant portion of the premium, you will likely be responsible for a portion of the cost through deductions that may be from your salary. The coverage is valid as long as the employer is the same. Changing employer may lead to cancellation of the coverage. If your group insurance plan does not offer maternity benefit, make sure to buy it with your personal insurance policy.

Myth #4: I can always buy the policy later

Your age does play a major role in the pricing of your policy. Buying it younger means you are still in better shape with fewer health ailments, which means your policy will be affordable. Buying it older means paying more due to health issues, which may require higher coverage. Additionally, buying the policy sooner allows you to enjoy medical insurance tax benefits at an early stage of your life.

Myth #5: Why waste money on a higher coverage

At the time of purchasing your policy, you might feel like a lower coverage might benefit you in the long run. But it is hard to predict what type of health ailment you may develop in the future. It might be prudent to opt for a higher coverage in your policy from the beginning to avoid any unwanted burdens later.

Myth #6: More riders, the merrier

Riders allow you to enhance the coverage of your policy and reduce the additional financial burden during your treatment. However, riders increase the cost of the policy, and thus, it is important to assess your needs before you select the add-ons you require. For example, if you and your partner are expecting a child, opting for health insurance with maternity coverage will benefit both, the mother and the baby, in the future. Claims are subject to terms and conditions set forth under health insurance policy.*

Additional Myths For Your Understanding

Apart from the major myths busted above, here are some additional myths you may consider:

Health Insurance Covers Everything

One of the most prevalent misconceptions is that health insurance covers all medical expenses. In reality, health insurance comes with various deductibles, co-payments, and out-of-pocket expenses that you must bear. Additionally, not all medical services or treatments are covered, so it's essential to review your policy to understand what is included and what isn't.

I Can Cancel My Health Insurance Anytime

Health insurance policies usually have specific enrolment periods during which you can make changes or cancel your coverage. Instead of cancelling the policy, you may simply port your policy to another insurer. Health insurance portability allows you to port your current plan to another insurer without having to lose any of your existing benefits. This way you can enjoy the service of the new insurer rather than being without any health cover. Claims are subject to terms and conditions set forth under health insurance policy.*


Understanding your health insurance is crucial for making informed decisions about your healthcare and financial well-being. Dispelling these common myths can help you navigate the world of health insurance more confidently and effectively. Use the health insurance calculator to see what your ideal policy would cost. Remember that your health is a valuable asset, and having appropriate coverage ensures you can access the care you need when you need it, without unnecessary stress or financial strain. *Standard T&C Apply Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

Was this article helpful? Rate it

Average rating 5 / 5. Vote count: 18

No votes so far! Be the first to rate this post.

Like this article? Share it with your friends!

Share Your Thoughts. Leave a Comment Below!

Leave a Reply

Your email address will not be published. All fields are required