low premium health insurance Health insurance has become very important in view of the increasing medical expenses. Since Covid-19, more and more people are turning towards health insurance. The older a person gets, the more expensive health insurance becomes. However, by adopting some easy methods, you can reduce the premium amount of health insurance.
Today, everything from school fees to medical expenses is getting expensive. If you want to avoid rising medical expenses, then health insurance can be a great option. After taking health insurance, you do not have to worry about expenses. At the same time, sudden medical expenses do not affect your pocket.
Along with health insurance, you can also keep some amount of your salary in emergency fund. If you are also planning to get health insurance for your parents but are worried about the increasing premium amount, then you can use some methods to reduce it.
Get insurance cover till the age of 60
The younger you get health insurance, the more benefit you will get. If you take insurance at the age of 30, then it will be available at a lower premium as per the age of 60. So, get insurance cover as soon as possible.
Along with this, you can also avail the benefit of 5 to 10 percent claim bonus every year. On the other hand, you can get a discount of 15 percent on taking a three-year insurance plan.
The insurance can also be reduced by these two methods
You can also reduce the premium amount through deductible and co-pay. Deductible is the amount which you have to pay yourself before claiming. For example, if your total expense is 6 lakhs, then you will pay 2 lakhs in deductible amount. You can claim the remaining amount of Rs 4 lakhs through insurance cover.
Co-pay is the percentage of amount that you pay yourself. Suppose your total expenditure is Rs 10 lakh. The co-pay amount is 20 percent. So Rs 2 lakh goes from your pocket. The remaining amount is paid by the company. In this way, you can reduce the premium by increasing both the amounts.
Compare different insurances
Along with this, you must compare the health insurance offered by different companies. This can be very beneficial for you. With these methods, you can reduce the health premium amount to a great extent. By comparing, you will be able to know about the benefits you get on health insurance.
