6 Common Mistakes to Avoid While Buying an Overseas Health Insurance Policy


Ahh! That’s just the visa requirement! I’ll buy the cheap health insurance policy.

 

Most often, people looking to study or work in Australia have the same thought when they are asked to have an OSHC (Overseas Student Health Cover) or OVHC (Overseas Visitor Health Cover) to meet the health requirements for visa.

There is a tendency to look for options which are relatively cheap or suitable to the pocket or buying the one without knowing the details of varied health plans available as per the personal requirements. As a result, they don’t get the right kind of financial assistance when any mishap or unfortunate situation happen.  

However, it is of utmost important to take a number of aspects into consideration before buying or even renewing your health insurance policy. It is only then, that you can zero in on the right policy for yourself as well as your family.

Let us look at some of the most common mistakes people make, so that you can avoid them when you decide to choose the ideal health plan for yourself to apply for any Australian visa.
 

 
1) Caring for Money over Coverage

Whenever you buy anything, you must look at the money aspect of it; that is only natural. But, unlike any other things and services available in the market, which you can choose primarily based on their cost, you cannot do the same when you’re out there choosing a health insurance plan. 

The reason is simple. The right plan might not seem too important in your normal routine life, but it is meant to protect you from falling into undue financial circumstances at the time of a medical emergency. 

The word ‘emergency’ is important here. So, do not choose a plan with an insufficient coverage, to save yourself a financial inconvenience now; because it could cause a bigger mess when you’re already inconvenienced health-wise.

2) Always looking for the basic cover

A health insurance plan has to be comprehensive in its nature; otherwise, what’s the use? Most people, when they decide to buy a plan, are so adamant on saving a few bucks, that they tend to choose a very basic plan over a detailed one. 

If you’re buying an insurance plan, just for the sake of it - it is almost as good as not having one. If you fail to realize how big a role a comprehensive insurance plan can play towards helping you out in your need of hour, then it is a matter of concern. 

The right way of going about this is through choosing a plan that covers a critical illness rider and a personal accident rider, in addition to the basic insurance plan. A complete plan is one, which also provides you with certain added benefits, such as cashless hospitalization, domiciliary hospitalization, and ambulance charges. 

3) Not Reading Every Claim Properly

To err is human, they say; and when it comes to making an error while reading the fine print on your insurance plan, misunderstanding something, or leaving something out completely - is an error not too uncommon. Just so that you don’t have to face any problems due to that, later on, you’ll find almost every health insurance company providing a 15-day ‘look period’. 

As the name itself suggests, this is a 15-day time you get, after you have already bought your policy, to look at the fine print, and understand each detail properly. This is a free look period, at the end of which, if you do find something problematic, you can ask for your plan to be scrapped right then. 

The company will initiate the cancellation procedure, and offer you a payback as per their Terms and Conditions. This period is extremely important ; and do not waste it. Make sure you have gone through each and every clause, before you agree to go further with the plan.

4) Hesitating in Going for a different Insurer

For some reason, people feel a bit shy when it comes to changing their insurance provider. The question is, why? If there is another provider who’s offering you a plan with better benefits, you should not refrain yourself or hesitate from reconsidering your current plan, and skip to the better one. 

5) Keeping Certain Things from Your Insurer 

Do not conceal any medical facts about yourself. If you keep any of your health conditions undeclared in front of your insurance provider, at the time of purchasing a plan, you might face problems ahead. This could be held against you, at the time of claim settlement. 

For instance, if you are suffering from a pro-longed illness but you didn’t bother to mention the same in your application. And by any chance if you are hospitalised due to medical emergency, your claims get rejected on sending the hospital bill to the insurer. 

6) Delay in Renewing the policy
 
Without the proof of adequate health, overseas visitors and students cannot spend a single day in Australia. If you fail to renew this policy means you are breaching the health insurance condition, which ultimately result into visa rejection or cancellation.  That’s not all, there are also other disadvantages if you renew the policy after the due date. To know them visit now 
 

 

Whether you are traveling for weeks, undertaking a course of study for few months or living for years, considering an international health insurance carefully is essential to prepare for or avoid potential dangers. Discussed above are a few things that people take for granted, while choosing an OVHC policy or OSHC policy. We hope you don’t make the same mistakes and buy the one that covers the maximum benefits you need. 
 
If you want to compare health insurance plans before making any decision, then www.getmypolicy.online is the perfect resource for you . It allows you to compare a wide range of health insurance plans by Australia’s leading providers like Allianz, Bupa, Nib and AHM and buy the one that perfectly meet your needs along with the immigration department for Australian visa. 

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