Health insurance is very important. With this insurance, you can secure yourself and your entire family. Apart from this, you can also save on medical expenses. Many times consumers do not take insurance due to high premiums. In this article, we will tell you how you can take health insurance at a low premium and what things should be kept in mind while taking insurance.
While buying health insurance, insurance agents do not provide many types of information to the consumers. Even while buying health insurance online, due to lack of information, customers are not able to reduce their premium. Till a few years ago, there was no option to change the features available in health insurance products, but now this option is available. Consumers can reduce their premium by changing the features of the health insurance product as per their requirement.
This is how you can reduce the premium
If you feel that during treatment you can stay in a double room or general ward instead of a single room, then you can change the feature of the single room. This can reduce your premium by 5-10 percent. After consultation with the insurance agent, you can reduce the premium by changing many more features. Increasing the feature will increase your premium.
Decide the premium period as per your convenience
Earlier, consumers had to pay the premium of health insurance in one go. Due to the money being paid in one go, many people missed buying the insurance. But now insurance companies are providing the facility of premium payment as per the convenience of the consumers. Consumers can also pay health insurance premium on half-yearly, quarterly or monthly basis instead of paying it in lump sum.
Give full details
While buying an insurance product, you should give complete information about your old diseases. Otherwise, many times the claim gets rejected due to these reasons. – If you already have BP, sugar or heart related diseases, then you should give information about them. There is a waiting period of up to three years for these diseases. This means that the company will bear the cost of treatment related to these diseases after the waiting period.
After continuing the insurance for five consecutive years, the company cannot reject the claim of any disease.
Increase coverage amount by paying extra premium
Siddharth Singhal, Health Insurance Head, Policybazaar.com says that consumers can increase their coverage amount to Rs 1 crore by paying Rs 2-3 thousand extra in health insurance premium.
This can completely avoid the cost of illness. Financially capable people should definitely do this, because in case of a serious illness, hospitals make a bill of at least Rs 15-20 lakh. Hospital expenses are constantly increasing in big cities. In such a situation, a family should have health insurance with treatment facility of at least Rs 10 lakh.
