9 Secrets to Save on Health Insurance Premium

mediclaim cost cutting tips

Those who are planning to buy health insurance in India online should know few important factors to save some huge amount of money on premium. Once customers know below mentioned secrets, then they will surely know how to save money on health insurance costs:

  • Buy health insurance in India at early stage

Insurance purchased at an early stage costs less as compared to the one purchased for a higher age category. Customers should know that a late start may invite a deprived cover because of exclusions and waiting period.

  • Always stay covered!

Buying family health insurance online is a good decision to protect economical peace of policyholders. It helps insured person to preserve his savings in case of medical emergency or accident.

  • Be alert about the latest options

The security element differ based on a product, hospitalization cost, permanent disablement, accidental death, hospital cash benefit, lump sum on occurrence of critical illness etc.

  • Enough coverage

Decide the right insurance amount for you and your loved ones. Some important factors taken into consideration before purchasing online family health insurance policy are gender, age, pre-existing diseases, existing cover and family or individual cover.

  • Review your health insurance policy regularly!

Family floater plan and an individual health insurance in India cover is the need of the hour. Health related expenses are rapidly increasing in spite of advanced technology, due to the rates of new equipment.

  • Disclose the right information

Always give all information correctly including previous health issues which buyer may have had. Similarly, the insurance service provider must give all critical details which customer need to know regarding his insurance plan.

  • Aware of the claim process

Policyholder can avail cashless facility only at network hospitals, else insured has to settle the medical expenses by him and all claim procedures for a hassle-free settlements.

  • Know long term benefits

Insurance companies in India give a certain ‘bonus’ to policyholder’s sum insured for every claim-free year. In fact, free medical checkup is one of the advantages insured person can get after renewing his insurance policy continuously without a claim.

  • Be an informed customer

Now, product literature is standardized and insurance plans have life-long cover as well as certain duration as the ‘free-look’ period allows insured person to revisit the plan.

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