Health insurance is a boon to everyone who is looking to safeguard their savings from rapidly rising healthcare costs. However, the amount of coverage you want could cause your premiums to be high. Let’s understand how you can be sure to maximise the advantages of your health insurance plan by striking a good balance in your coverage and premium.
Moreover, we strive to make your insurance journey easy and quick. You can check out the health plans on our Bajaj Finserv and compare & buy accordingly.
Here, we have mentioned a few pointers that you can consider while buying a health insurance plan.
- Family Floater Plan
If you are young and your family medical insurance expenses are high go for a family floater plan. When you purchase a family floater insurance policy you can cover maximum members of the family and you will have to pay a low premium rate.
On the other side if you have a family member with a pre-existing disease you can go for a separate policy. Remember, having a similar health insurance policy for a family member with a pre-existing disease can hike your premium.
- Riders
Most health insurance plans provide additional benefits called riders that are priced individually. Based on your lifestyle, habits, overall health parameters, etc., you may choose only necessary riders and leave out some of the more expensive ones. By choosing what is required and what’s not required you can make sure your health plan covers all that is essential for you.
Get a plan that you can customise according to your needs and choose your riders wisely before finalising your policy.
- Limiting Hospital Room Cost
In your health insurance policy, you can choose your hospital room coverage too. You can select from the high-end private room to the economical budget rooms. Take a smart decision and choose a hospital room with a low per-day cost to keep your premium amount in check.
- Co-Payment
When you decide to pay a part of your expenses during hospitalisation then you opt for Co-payment. When you opt for co-payment, it automatically brings down your premium since you offer to pay a part of your bills thereby reducing the coverage that you will need to take from the insurer. Co-payment lessens the financial liability of your insurer, and this benefit is passed on to the policyholder.
- Healthy Lifestyle
Your healthy living habits can help you pay less premium. If you are a non-smoker and non-drinker, you can get a discount on your premium rate too. A healthy lifestyle makes you pay less amount.
- Online Purchase
Don’t miss this one! Make sure you purchase your health insurance policy online after comparing. Compare multiple health insurance policies online and purchase the one that best suits your need, and it is providing a low premium rate.
Lastly, remember there are multiple ways to reduce your premium amount make sure you go with the one that resonates with your needs.
Pro Tip: You can always port your policy if you are not happy. To know more about health insurance plans or if you want to buy one, you can visit our Bajaj Finserv.
