What are the pros and cons of buying a health insurance policy?In India the level of awareness of the people about importance of having a health insurance policy is not up to the mark. Many people buy health insurance for availing tax benefits without going into the details of its importance and significance.
Health insurance in India pays for inpatient hospitalization and for treatment at hospitals only. Outpatient services were not payable under health policies at present. However, the insurance companies offer a number of innovative products like family floater plans, top-up plans, critical illness plans, hospital cash and top up policies etc.
I, personally, have not taken any health insurance as I am covered under Central Government Health Scheme (CGHS).
What are your observations in this regard? What are the pros and cons of buying a health insurance policy?