Health insurance is a misunderstood product generally stemming from a lack of understanding. Here are the common myths around health insurance.

1. DEBUNKING SOME MYTHS ABOUT HEALTH
INSURANCE
SINCE 1989

2. I AM FIT , I DO NOT NEED HEALTH INSURANCE.
This is a myth. Health insurance policies are best bought when the person is young and healthy.
This way the premiums will be lower and in the case of any emergency, the policy can come in
handy. Buying health insurance early also ensures that you serve through the waiting periods for
pre-existing and temporarily excluded diseases while you are still in good health.
Source : Moneycontrol

3. Only Hospitalization is covered by a health insurance policy.
Typically, people believe that to avail the benefits of health insurance, one has to be admitted
to a hospital for at least a day. But that is a thing of the past. These days, many health insurance
providers, have started providing coverage for day care procedures that can be performed in a
few hours at a hospital, owing to technological advancement.
Source : Moneycontrol

4. Price is the deciding factor.
It is quite common to believe that a cheap policy is equivalent to the best policy (at least for the
pocket). Typically, people while buying health insurance, seldom look beyond the premium. But
when it comes to purchasing health insurance, it is wrong to seek a plan with the lowest
premium. Low-cost/basic plans have restricted offerings, with essential features excluded.
Source : Moneycontrol

5. With the financial year coming to a close, there is a flurry of activity to ensure that we use our
tax exemptions to the full limit. And while health insurance does provide tax benefits that
should not be one’s primary objective while buying health insurance. Better buy insurance for its
main purpose and that is to insure your health against all eventualities. Always remember health
can never be a compromise and thus, the cover should not be dictated solely by the objective of
tax benefit. Do assess the cover required and the plan best suited for you. Tax benefits under
Sec 80D should be considered incidental at best.
Source : Moneycontrol

6. www.latinmanharlal.com
Email: info@lmspl.com I Tel No: 022-40824082
Viraj, 5th Floor, 124, S.V. Road, Above HDFC Bank , Khar (w), Mumbai- 400 052.
SINCE 1989
TO KNOW MORE CONTACT