Understanding Your Policy Coverage
80% of policyholders in India have no real idea of what their policies cover.
The Myth: "I know what I'm insured for."
Most people think that when they purchase their insurance policy, they know exactly what they are covered for. The truth? Nearly 80% of Indians have no idea. Their policies are stuffed with fine print language, room rent caps, exclusions, waiting periods, sub-limits, etc., that are rarely explained clearly during sales conversations.
This is dangerous! For example, if you think your plan covers every hospitalization or is comparable, then you receive a bill for a therapy or cost that is excluded. By the time you realize it, it is too late; you have a financial shock rather than financial protection.
The Reality: Clarity is Security
Knowing or understanding your policy coverage does not require an insurance degree; rather, it is about being prepared. With platforms like Bima Analyze, it simplifies reading the fine print. You get to see, in simple words, what provision is really covered, what is not covered and what warrants attention.
What's the Takeaway?
Don't assume, don't blindly trust sales agents, brokers or brochures. Clarity today is security tomorrow.
