pays for your hospital bills for diagnostics, surgery etc.
With an increased Risk of developing diseases and spread of new and unknown outbreaks of epidemics today, it makes increasingly better sense to opt for health cover. However, it is also important to choose Health Insurance Policy that fits your bill, so that you have the protection of health Claim without having to dig deep into your finances.
1. The earlier the better: It is best to buy a policy as early as permitted so that the Premium is low. It is also advisable invest when young as the health condition of the person is good and allows him or her to buy a health cover of his choice. The eligibility to buy health cover declines with increasing age due to health related conditions and associated expenses.
2. Go for a basic cover: A basic Hospitalization cover will help in times of emergency situations warranting sudden hospitalization. The premium for basic cover will be less compared to other health claim policies
3. Take your employer’s help: If your employer offers health cover, the money deducted by the employer for your health cover will be significantly less than otherwise. In case the company provides a group health cover for the employee and his dependents, it is indeed an excellent option to save money on health insurance.
4. Search for the right policy: Shop for an economical health policy option before choosing one that provides value in terms of sum insured. Browse online and study different health covers before deciding on one that suits your budget.
5. Top up the basic: If health cover provided by the employer seems insufficient, you could also top it up instead of buying a separate health insurance- this saves you on your premium.
6. Go for group savings: In terms of economy, group floater policy would be a wiser bet than an individual health plan, as the person needs to pay only a single cover for insuring the health of his family members.
7. Take advantage of good health: Back to basics, keeping good health can cut down health cover costs. If the person has not been hospitalized, he would be eligible for rebate from the insurer. It also helps in saving on medical expenses and doctor visits. A cumulative Bonus on sum Insured is offered to people who do not make a health claim and renew their policy on time.
8. Further, you could save on premium by buying a separate health insurance for parents – the premium is calculated based on the age of the oldest person buying a health policy, and you could cut down on the cost factor.