10 lakh cover at a premium of just ₹6,000 a year. That’s the offer in front of you. Which is way better than the market price and due to joy, you just buy it.
🔸 And then, one day, your worst fears come true. A slipped disk forces you into the operation theatre. You require extensive treatment. The final bill is hefty. ₹6,00,00 — inclusive of all costs. But despite your 10 lakh cover the insurer tells you they can only cover ₹2,00,000. You are outraged and you press for a clarification.
Eventually, they tell you your policy has disease wise sub-limits. Meaning, they have a cap on the total coverage amount specifically mandated for certain diseases.
🔸 For instance, cardiovascular diseases — They only pay ₹2,50,000
For knee replacements —₹2,75,000
For other major operations like the one you just had — ₹2,00,000
And finally, you realize how the company could offer you a ₹10 Lakh cover at such a low premium. They probably never end up paying the full cover amount in most cases.
➡️Don’t fall prey to this devious practice. Make sure you always know there are no disease wise sublimits. Because you don’t know what will hit you. It’s alwaprudent to pick a policy that has no such stipulations.
Source: Ditto
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#healthinsurance #insurance #insuranceagent #treatment #hospital #financialeducation