6 Healthy Tips to Save on Health Insurance Premiums No One Will Tell You
Updated On Jan 22, 2021
Only 27% of people have health insurance in India. This means 100 crores of 135 crore people have no cover against catastrophic health expenses.
This may be primarily due to:
- Fear of premium anxiety
- No idea of health insurance savings
- Prevailing insurance myth in the market
- Unaware of health insurance benefits
Many people don’t buy health insurance because of too many premium rates. For others, health insurance is an expensive nuisance. They don’t understand the importance of a health insurance policy until they fall into an emergency situation and get help out of their policy.
If you’re among such people, I’m damn sure you’ve not heard of a good health insurance plan and know the tips to enjoy savings on health insurance premiums.
A comprehensive good health policy doesn't cost an arm and a leg. The premium you pay is far less than its worth.
In this post, I would like to discuss certain tips and tricks of health insurance savings.
Here are 6 healthy tips to save on health insurance premiums:
1. Buy Insurance When You’re Young
Buying a health policy at a younger age can help you reduce your premium amount. As you age, the chances of health risks increase. And so is the premium of the health policy. That’s why it is advisable to purchase a health plan when you are young.
2. Keep Blood Pressure Under Control
High blood pressure is another reason for a higher premium. It’s not a good sign. If you keep your blood pressure control, you are able to reduce your premium costs. Remember that a healthy body automatically reduces premium costs.
3. Don’t Drink and Smoke
Every single cigarette you smoke, you get closer to health risks. So if you smoke, you will end up paying more premium than a non-smoker. To cut the rates of premium, you need to quit smoking.
4. No Claim Bonus
No claim bonus is an upfront discount on your premium. If you don’t claim, the insurer will reward you ‘No Claim Bonus.’ This means they will increase your sum assured without increasing the premium amount. Besides, discounts on claim-free years can also reduce the premium at the time of renewal.
5. Compare Quotes Online
For savings on health insurance premiums, ask for quotes at different insurance companies. Getting insurance premium quotes from different insurers will help you compare costs and coverage. Thus, you will be able to get the best plan for you.
6. Compare Benefits
Don’t just compare the premium, but also coverage benefits of the policy you want to purchase. Dig deeper and get insights into what discounts the insurance provider is offering you and what is included under the health policy.
Make your choice based on the coverage you require. Selecting a plan randomly can lead to paying out more than actually required.
Also Read
Smart Ways to Lower Health Insurance Premium
3 Easy Ways to Pay Premiums of United India Insurance Online
Conclusion
Getting the right and affordable health insurance is always appreciable. The affordable plan depends on a few aspects, including choices, the capability to choose and your health conditions. But, one healthiest formula is to stay healthy. If you are healthy, your premium will be lower and more affordable. So, do follow the above tips if you want to reduce your premium amount. This will enable you to save a lot on your health insurance premium.
