Top 5 Myths About Medical Insurance You Still Believe
Don’t let common misconceptions keep you from protecting your health and your money.
Introduction:
Let’s be honest — most of us don’t grow up learning about insurance. It’s one of those adult responsibilities that we either put off, ignore, or just “figure out later.”
But when it comes to medical insurance, believing the wrong things can actually cost you lakhs of rupees — or worse, leave you stranded in a real emergency.
In this post, we’ll break down five of the most common myths people still believe about health insurance in India — and why it’s time to rethink them.
Myth 1: “I’m young and healthy. I don’t need health insurance.”
This one sounds reasonable — until something unexpected happens.
Accidents, viral infections, or sudden medical conditions don’t check your birth certificate. You might feel fine today, but a single hospitalization can drain your savings overnight.
In fact, buying health insurance when you’re young is actually the smartest move:
- Your premiums are lower
- You won’t have to deal with long waiting periods later
- You build a safety net before you need it
The truth is, medical insurance isn’t just for the sick — it’s for the smart.
Myth 2: “My company already gives me insurance. Why should I buy another?”
This is a common trap, especially among salaried employees.
Yes, your employer might offer a decent policy — but what happens when you leave the job? Or switch companies? Or retire?
Most company policies:
- Offer basic coverage with limits
- End the moment your job does
- Don’t always cover your family fully
It’s always better to have your own personal health insurance plan — one that stays with you no matter where you work or what you do.
Myth 3: “My insurance will cover every medical expense I ever have.”
We wish this were true. But insurance isn’t a blank cheque.
Most policies have exclusions, limits, and terms that many people overlook. For example:
- Pre-existing conditions often have waiting periods
- Routine dental or cosmetic treatments usually aren’t covered
- Some plans won’t cover maternity or outpatient visits unless clearly included
The bottom line? Always read your policy carefully, ask questions, and don’t assume every hospital bill will be paid in full.
Myth 4: “If my claim gets rejected, it means insurance is a scam.”
This one causes a lot of frustration — and often, the problem comes from the application itself.
Most claims are rejected not because insurance companies are dishonest, but because:
- The buyer didn’t disclose a health condition
- Documents were missing or incorrect
- The treatment wasn’t covered under the plan
Health insurance works, but only if you’re honest and informed while buying it. A 15-minute conversation with a trusted advisor can save you a world of regret later.
Myth 5: “I’ll buy insurance when I really need it.”
Think of this like trying to buy an umbrella after it starts raining. By the time you actually “need” insurance — maybe after falling sick or being diagnosed — it may be too late to get coverage.
Health insurance is not something you buy when you’re sick — it’s something you buy before.
And the longer you wait:
- The more expensive it becomes
- The more likely you’ll face waiting periods or rejection
- The more you risk paying everything out of pocket
If you’re healthy right now, that’s actually the perfect time to get covered.
Final Thoughts:
Medical insurance can feel confusing, and it’s easy to believe the first thing a friend or relative tells you. But the truth is, it’s too important to leave to guesswork.
At myinsurancedost, we believe everyone deserves to understand insurance — in simple language, with no pressure, and with a little human touch.
If you ever feel unsure, reach out to us. We’ll help you choose wisely — not expensively.
You’re not alone in this. We’ve got your back.
Visit: myinsurancedost.com and policyzar.com for more interesting and informative information about insurance.
