Health insurance is very important in today’s times. This is because now the cost of treatment has increased a lot. If you do not have health insurance, you may have to pay a huge amount from your pocket if you fall ill.
But the biggest problem is that health insurance premium is also continuously increasing with time. In the last one year, the premium of health insurance policies has increased by 10 to 25 percent.
Insurance companies say that treatment costs and insurance claims are increasing. Because of this, they are also forced to increase the premium of their insurance policies. Since the Corona period, people have become very aware about health insurance.
There are many ways to keep health insurance policy premiums low. But, due to common people not being aware of them, they are not able to take advantage of it and pay higher premiums. Today we are telling you five such methods.
When you do not take any claim then you are entitled to No-Claim Bonus (NCB). No claim bonus reduces your premium. Therefore, claims should not be filed for small expenses incurred on treatment. By doing this you will be entitled to no claim bonus and you will have to pay less premium next year.
By increasing the sum insured on the base cover, more money has to be paid in the form of premium. If you take a super topup plan instead, it will be cheaper. Linking a base policy of Rs 10 lakh with a super topup plan of Rs 50-90 lakh is cheaper by up to 60 percent compared to increasing the sum insured on the base plan.
Many insurance companies also offer the benefit of restoration. Suppose you took a policy with sum insured of Rs 20 lakh and used only Rs 10 lakh. In such a situation, you can restore the sum insured. That means the company will again give the sum insured of Rs 20 lakh in the same year. This provides additional coverage when needed and acts as a backup plan.
Now you can also port the insurance policy. If you feel that the existing insurance company is charging high premium but giving less benefits, then you can port the policy to such a company where you get more benefits and have to pay less premium.
Choose the amount of insurance cover wisely. It should neither be less nor unnecessarily more. For more health cover, you have to pay more premium. Similarly, if you choose a lower amount, you may have to pay from your own pocket if you fall ill. For this you can also take expert advice.
