Why you need to upgrade your health insurance cover

By: | Published: March 9, 2017 11:00 AM

Healthcare is a critical aspect of our lives. Seeing the rising costs of healthcare services, it is important that we keep it aptly covered. However, being covered is not the very solution to stay assured of your financial status in case of any need. You need to be covered substantially to have ease of operation when an adversity hits in.

Upgrading a health insurance policy is a little time-taking process. It is always better to assess your coverage today and check out how much it is able to support your needs.

Healthcare is a critical aspect of our lives. Seeing the rising costs of healthcare services, it is important that we keep it aptly covered. However, being covered is not the very solution to stay assured of your financial status in case of any need. You need to be covered substantially to have ease of operation when an adversity hits in.

“Contemplating the present scenario of expensive healthcare services, one-time hospitalization is enough to exhaust your entire cover in a single-day hospitalization. To evade regret and stay fully equipped to face any untimely circumstances, it is important that you consider upgrading as a vital decision to stay full-proof,” says Naval Goel, CEO & Founder, PolicyX.com.

It is always better to get your health insurance upgraded when you are all fit and fine. This will help you at a time when you will be sick, old and unable to think. Here are some points that explain why upgrading health insurance is a must:

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Leaving it for later is a bad decision:

Upgrading a health insurance policy is a little time-taking process. It is always better to assess your coverage today and check out how much it is able to support your needs. If you are satisfied having a health insurance cover of, say, Rs 5 lakh, you must know that this is the present day cost of one-day hospitalization with some added services. You must right away upgrade your health insurance. Upgrading it would require a fresh application to be filed. You won’t be able to upgrade your policy in old age when even doing little things become a difficult task.

The later you upgrade, the lesser you get insured:

Filing a fresh application for health insurance means you need to undergo the medical test process from scratch. “We all know that the older you grow, the more you become prone to illnesses. You have to disclose all your diseases and health issues to the health insurance company. There is a higher possibility that you won’t be covered for some of them,” says Goel.

Better is always the best:

You must keep on comparing your health insurance with the others available in the market. If your present insurance provider is not able to offer you a better cover, you must look for other options. If you have invested on a high sum assured with the existing insurance provider, you can opt for a secondary plan with more coverage to add on to the overall cover.

Go for riders:

If you already have a good base policy, it is a good choice to buy riders. Riders are additional benefits offered by an insurance company that you can buy along with the base policy. They are the best tool to upgrade your simple policy to a 360-degree coverage plan swiftly and easily.

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All these points are strong enough to prove the importance of health insurance upgrade. “The sooner you go for the update, the better it is to have a complete cover against adversities. You must look for upgrading your plan right away and avail a coverage that offers you everything at the best price possible. For, without an assisting health insurance cover, you won’t be able to bear the cost of healthcare in the future,” says Goel.

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