What are the disadvantages of an Insurance policy?

<p>One thing I've realised after dealing with health insurance for a few years is that the “disadvantage” usually isn't insurance itself, but how little we understand it when we buy it.</p><p>On paper, most policies look similar. The problems show up later — room rent limits, sub-limits on treatments, long waiting periods, or exclusions you never noticed. Premiums can also rise over time, and if you only rely on a basic cover, today's medical costs can quickly make the sum insured feel inadequate.</p><p>I went through this confusion myself, which is why I tried BimaScore and Bima Analyze. What helped me was getting a simple clarity rating (between 400–1000) and seeing how my policy actually performed when real-world factors were considered — without uploading documents or decoding policy jargon.</p><p>Insurance isn't a scam, but it is technical. A bit of clarity early can save a lot of frustration later. If you want to sanity-check your own cover, you can explore it here:</p>

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<p>Here are some disadvantages of an Insurance policy:</p><ul><li><strong>Expensive for old people: </strong>People who buy a policy when they develop a medical condition or cross a certain age, will get charged more.</li><li><strong>Issues with claim settlement:</strong> Insurance policies have certain inclusions and exclusions along with terms and conditions for claim approval. There are many instances of claims being rejected or the compensation amount being reduced due to certain clauses of the policy.</li><li><strong>Too many options: </strong>There are many insurers in India offering a wide range of life insurance policies. While this means more choices for buyers, choosing the right one can be overwhelming. Also, many policies are not straightforward and require an understanding of financial products.</li></ul>

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