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Health insurance policies are becoming a necessity for every individual. However, with the huge number of health insurance policies offered by different companies, selecting the right policy is not an easy task. Here are some of the common mistakes that people make while purchasing health insurance policy.

Most people tend to buy health insurance without assessing their needs. They either get over or under coverage.

The cost of premium plays a vital role in deciding the amount of coverage. So, if you buy more coverage than you need, you are unnecessarily spending money. On the other hand, if you are buying less coverage than you may face financial risks at the time of need.

When buying a health insurance policy it is important to disclose your medical history and current health status. Do not hide any illness while filling up the proposal form. If you hide your medical history, you might not receive medical coverage if you fall ill because of a pre-existing medical issue.

Health insurance plans are not standard products. You can choose your insurance coverage according to your needs. So, it is necessary to first understand your requirements before final selecting a health insurance policy. This will be highly beneficial at the time of claim.

Exclusions are situations that are not covered by your insurer. Understanding the exclusions is equally important just like about the things covered in the policy. However most individuals do not bother to look at the exclusions.

Health insurance companies offer a wide range of policy options for buyers. But it has been often observed that individuals are hesitant in changing their insurance provider.