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How to Buy a Health Insurance Best in Pricing?

by Byrne Anderson
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One of the first steps in financial planning is protecting yourself and your loved ones from the unexpected medical emergencies by securing them with a health cover. It is advisable to buy health cover at an early age as you don’t have to pay a hefty monthly premium. If you haven’t got one now, read further to know how you can get the health cover which is best in pricing.

In India, health insurance has a low penetration as it is considered less critical. People perceive health cover as an option and not as a necessity. However, with today’s lifestyle choices, growing health risks, work pressure, adequate health insurance has become the need of the hour. With the recent outbreak of the novel COVID-19, people are becoming more aware of the importance of health insurance. It is a fact that no one can depend on hard-earned money during emergencies. It is in such situations; health insurance can provide you with a much-needed financial cushion.

Protecting the health of your loved ones should be your priority as your life revolves around your family. Would you prefer to put your family’s health at stake to save money? No, right? With the growing risk of diseases and high healthcare expenses, you and your family members need a health cover. Here’s how you can buy the best health insurance cover with the best pricing:

  1. Check health cover options: When it comes to buying the best health insurance cover, you must know what type of health cover you’re searching – whether it is individual or family health plans. If your parents already are covered under a health plan, then you may consider an individual policy. At the same time, if you have a family with multiple dependents, then a family floater plan would be an ideal choice. Based on the type, you can check for options online and compare various policies that fit in your budget and medical needs.
  2. Define your budget: Budget is the most important factor once you know what kind of policy would suit you best. In the beginning, you may choose a basic plan which is reasonably priced, offers benefits and affordable premium rates. You can choose an advanced plan after that.
  3. Compare quotes online: Whether you plan to buy individual or family floater plan, you can compare quotes online that meets your needs. The health insurance quote will help you get to know the estimate premium amount you may pay monthly. Select the best quote to buy a health insurance policy.
  4. Choose family floater over individual policy: When it comes to policy pricing, experts suggest buying a family floater health insurance plan as opposed to buying individual plans for each member. This is because the premium rate becomes affordable, and sum assured is equally segregated among each family member.
  5. Opt for top-ups: If your sum assured gets exhausted, you could opt for top-up plans. This is a cost-effective way to extend the coverage over and above your basic health policy. However, you can use the top-up plan when you cross your deductible amount, wherein a policyholder must pay the claim amount.

These are some of the ways you can use to get health insurance pricing. You can use online mode to buy health cover as there are no intermediaries and you don’t have to pay any commission.

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