Health insuranceis purchased as a financial safety net. It helps us when times are tough and health expenses are high. A shift in lifestyles has led to an increase in health-related problems as well as their intensity. Consequently, it is crucial to have a health insurance strategy in place for a prolonged and safe life. When we experience medical emergencies, health insurance provides financial security by covering our medical-related expenses. It’s a contract between you and your insurance provider under which the latter will cover your hospital stay and associated medical costs. But it is not as simple as it seems, and there are many criticalities that are to be understood. One such aspect is “Exclusion” in health insurance.


Let us know what exclusion actually is and how it affects your benefits in the long term.


What is health insurance?

A health insurance policy is not only necessary but also a lifesaver in times of medical emergencies. It offers a financial safety net during a medical emergency and settles any medical costs that might otherwise deplete one’s own funds.


Health insurance is what pays for unexpected medical costs brought on by a disease. These expenditures could be associated with the price of drugs, hospitalization, or medical visits. Additionally, it may provide compensation for lost wages resulting from an accident. You require health insurance regardless of your age, gender, or profession. Health insurance will protect you if you become sick or get hurt, just like auto insurance protects your car in case something happens to it.


Understanding “Exclusion” in a health insurance policy


While the majority of medical issues are covered by health insurance policies, there are a few “exclusions” that, if many aren’t aware of them, may come as a surprise to us. It is sometimes best to comprehend and be aware of all the limitations in your health policy. Isn’t this better than finding out that something is not covered later on when you really need coverage? Hence, a medical problem or healthcare cost that is not covered by your health insurance plan is an example of “exclusion”. Since it isn’t covered, your health insurance company won’t cover the cost.


Key Exclusions that people generally miss out:

      Pre-Existing Disease (PED): It is crucial that you disclose any health conditions you have when buying medical insurance. At the end of a certain lock-in period, which can be anywhere between 2 and 4 years after the purchase date, all such pre-existing conditions are covered.

      The Waiting period Claus: In health insurance policies, the waiting period refers to the time you must wait before receiving insurance benefits, thus the name. The insured cannot make any claims for health insurance benefits during this time, which starts on the day the coverage started.

      Dental Treatment: Teeth are not considered to be essential for living and their deterioration is mostly due to self-neglect hence, are not covered by policies.

      Permanent exclusions: Permanent exclusions are congenital diseases or damages due to war or nuclear waste that are not included in a general health insurance policy.

      STDs: In Health insurance STDs such as HIV/AIDS, Chlamydia, Gonorrhea, and other similar ailments are generally not included in a plan as they are termed as self-inflicting diseases and could have been prevented.


How to choose the best health insurance plans:

It is always advisable to check an online health insurance calculatorbefore the purchase of a health insurance policy. Visit RenewBuy to get the best health insurance calculator online. You may use the health insurance premium calculator to estimate the premium for a new or renewed insurance policy. Even the most difficult computations may now be completed with the aid of computers. The health insurance premium calculator is an online application that allows policyholders to determine the precise amount to be paid by entering various inputs and information. Choose the best health insurance plansfor your needs according to your budget. Compare plans based on their features and inclusions while keeping an eye out for exclusions. Once you get a policy document, go through the exclusions before finalizing the same.