Want to Buy Health Insurance with Small Premiums?

Mr. Verma is a 30-year-old man and has a family of four including his wife, his son, and his father. He was advised to buy health coverage for all, but he is a salaried employee with a limited budget at his disposal to pay premiums. He was obviously confused as to which health insurance plan to invest in so that he got all possible benefits at a minuscule cost. Would you like to know what he did to achieve this nearly impossible-looking target? Health Insurance with low Premiums is like a blessing for us.

A few things that Mr. Verma was suggested to do and he successfully implemented them:

Factors Keep in Mind

1. Family Floater Policy

Since Mr. Verma is quite young, he was advised to buy a family floater plan that covers the entire family under one sum assured, and premiums are paid as per the opted sum assured or health cover. The only exception to it was that he didn’t include his father in the plan as the oldest member’s age and pre-existing diseases determine the premiums and that makes it go higher. It was better to buy him a separate plan and still get maximum benefits at the lowest possible cost for the entire family.

A family floater policy is a quite good option to protect a family, look health policy is the basic need of today’s time. Basic need, because there are certain reasons to write it, the way medical costs are rising it would be quite expensive to get treatment in a private hospital individually and having health issue is a common problem with everyone. And talking children, they play and they fight and they also get sick, and in such situations, there will be frequent visits to the doctor and such expenses also affect the monthly budget. So, having a health policy is like a blessing and everybody should think about buying a health policy.

2. Riders

Most health insurance plans come with additional riders like critical illness cover, accident policy, etc. which lead to rising in premiums. He was wise enough to go through those options, checked his family’s need for them at this stage of their lives decided not to include those riders, and kept his premium low.

The coverage of a plan makes it better, talk about rider benefit, so with the help of this, you can improve your health plan. We have often seen and heard that finding the best health plan is as difficult as finding a lost coin in the dark of night, but one thing we all should understand is that no health plan is the best, it should be made according to their own understanding and need. By making an account, it is made the best. Finding the best health insurance is not easy for anyone, you need to do a lot of research about the health policy

3. Limiting Hospital Room Costs

Mr. Verma had the choice of either selecting a high-end hospital room or an economical budgeted room option in case he needed hospitalization in the future. It was smart enough on his part to choose the hospital rooms with low per day costs to keep premium in check. He needs medical care, not a 5-star hotel treatment, right?

4. Co-Payment

Since his entire family was fit and healthy, he decided to go for a higher co-payment factor in his health plan. This means that in case of a medical emergency, a part of the cost will be borne by him and the rest will be taken care of by the insurance company. Higher the co-pay factor, lower the premiums! This is because it lessens the financial liability of the insurer and they pass off the health insurance benefits to policyholders in the form of a discounted plan.

5. Factored Inflation

Mr. Verma didn’t buy a plan with a sum assured on an arbitrary basis. He did his calculations based on the rate of inflation and gathered enough information to understand the rise in medical costs over the years. That’s why he neither under-insured nor over-insured himself and kept his premium in check.

6. Healthy Lifestyle

Even though he is a healthy guy, he ensured to inculcate the habit of living a healthy life with his wife and son. The insurance companies offer attractive discounted premium rates for healthy, non-smoking, non-drinking individuals.

There are only benefits of living a healthy life, and in today’s time, the first requirement of human beings is that they lead a healthy life. Healthy life keeps you ahead in everything and talks about health if you are healthy, you can get good policies at least premium and that too without any hassle, usually people think about the least premium and less A lower premium means you are living a healthier life. Health Insurance with low Premiums is like a wish come true because every people want health insurance with low premiums. But not all people are lucky enough to get this offer.

7. Online Purchase

This was one of his masterstrokes! Despite many insurance agents trying to woo him to buy health insurance plans from them, he decided to do his research online and finally buy a plan online himself. This saved him a lot of money on premiums because insurers don’t have to add the agents’ commission or other administrative costs to the premium if the customer is buying an online health plan.

Buying a policy online is quite good for you for every reason. Those days were different when you used to buy policies with the help of an agent, in today’s time everything is available on the internet, and with the help of the internet not only you can buy the policy but also you can know about the policy completely. . Apart from this, you can also pay the premium of the policy with the help of internet while sitting at home. What more does a person want than this, he is buying a policy sitting at home and paying the premium of the same policy. Talking about the earlier times, it used to take 3-4 days for you to buy the policy, apart from visiting the insurance company’s office to pay the premium.

In case you’re also looking for health insurance benefits that don’t make a hole in your pocket, analyze your health needs accordingly and take health cover following the above-mentioned facts that will save some money. You can divert these saved funds towards other priorities even as your financial liabilities in regards to the health of your family are taken care of!