In the recent scenario, medical expenses due to lifestyle diseases are increasing and many are not in a position to address the concern. In most cases, the family loses on their savings while trying to cover the medical expenses for hospitalization and treatment. This is the place where a health insurance policy comes into play. Mostly all of us are surrounded by the myth that low premium means low insurance coverage but actually, that is not the case. If checked properly on the health insurance premium calculator, you will actually come to know that extensive coverage is available to you even at a low premium. Let us try to understand through this blog as to how you can lower your health insurance premium and still enjoy the benefit of a broad coverage.
It is always preferable to get hold of a good insurance policy early, in the later stages of your life it becomes difficult for you to fulfill the requirements of the insurance company. By increasing age, the premium also increases with a lot of other health-related restrictions and check-up before issuing the policy by the insurance company. At a younger age, as your body will be less vulnerable to diseases, you can get a good sum assured at a lesser premium with limited formalities.
In many organizations, employers offer group insurance policies to the employee which covers their wife, parents, and children. At the same time, many employees end up with family floater plans too in addition to the group insurance policy offered by their employer, leading to lesser coverage and unnecessary premium payment. Remember, there is no point in overlapping the policies with the same coverage and benefits as it will only waste your hard-earned money. Rather you should opt for individual health insurance coverage in addition to the group policy offered by your employer. By doing this you save on money and get a variety of health coverage options.
Try to opt for restore plans where you get the facility of availing double the sum assured if your treatment exceeds the coverage value. In this plan, the patient is entitled to the 100% top-up of sum assured within the policy tenure. For instance, if you are admitted for the treatment and your sum assured is 5 lac but the treatment cost exceeds your sum assured, the restore policy gives you 5 lac more top-up without charging you extra and in this way your sum assured becomes 10 lac.
Most of the insurance companies have started selling their product online hence making life simpler for the policy buyer. You can easily check the premium using their online health insurance premium calculator and decide which policy to buy. The other point which needs to be kept in mind while going for comparing and buying the insurance policies is its waiting period, day-care coverage, claim settlement ratio, premium, cashless services and network of hospitals etc.
There are a lot of benefits of buying the policy online over the conventional offline approach, which are:
In the end, let us understand that only buying the health insurance policy for getting the cashless treatment and handsome sum assured should not be your motto. Try to stay healthy by sticking to the basic “stay fit” rules. Control the excessive intake of sugar, salt, and junk food. Always try to involve yourself in any sort of physical activity like jogging, dancing, and gaming. Let’s imbibe the famous line in our life “prevention is better than cure.”
Ashis is a professional blogger.