Can I Get Discounts When Buying Health Insurance Online In India?

Everyone wants to buy comprehensive and exclusive health insurance policies which meet their requirements at an affordable price. People invest in policies that are suitable for them and provide a wide coverage within the financial budget of the individual. Inclusions like hospitalization expenses, medication, healthcare check-ups, room rents, ambulance charges, etc. makes a health insurance cover attractive for the customers looking forward to purchasing it. Some insurance providers offer add-on covers like critical illness plans, maternity benefits, etc. at a negotiable price to the policyholders and benefits like tax reduction, lifelong renewability of policy, and much more add value to the health insurance covers. 

With the increase in inflation in the healthcare sector, getting discounts on your purchase of health insurance policy sounds too good to be true. But, there are certain plans and criterias under which the insurance providers offer heavy discounts to the customer. There are different types of discounts that are offered by the insurers. You can research about these discounts that are available and avail them on your purchased health insurance policies. 

Discounts On Health Insurance Policies

The policyholders are eligible for a lot of discounts on their health insurance policies. Let us look at some of these different types of discounts that are available for the customers: 

1. Family Discount 

There are certain health insurance providers that offer discounts to the policyholders on adding a family member to their existing health insurance cover. It is a flat rate of discount which remains constant as specified by the insurer and does not increase with the increase in the number of members added to the policy. For example, ManipalCigna Health insurance provides a 10% discount for covering 2 members of a family under their ProHealth Insurance Protect Plan. 

2. No Claim Bonus 

Almost all the insurers provide this benefit of No Claim Bonus to their customer under which a certain amount of discount is provided to the policyholder for each claim-free year. The amount of sum assured is increased under this benefit for the subsequent year after claim free year. For example, Bajaj Allianz Health Insurance offers a no claim bonus starting from 10% to the maximum of 50%. Under this the sum assured of the policy will increase by 10% every claim free year until it has reached 150%. 

3. Cumulative Premium Payment Discount 

At the time of buying a policy, if the policyholder is willing to pay the premium of two years altogether, then the insurer offers a certain percentage of discount on the premium amount. The rate of discount ranges from 5% to 15% of the annual premium and ensures continuous coverage of the policy. 

4. Discount Vouchers

Companies roll out discount vouchers to the policyholders which can be availed by them on medicines and treatments at specific outlets when hospitalized. These vouchers are a part of the plan promotion. 

5. Wellness Rewards 

Under these discounts the insurers offer rewards to the customers for maintaining a healthy lifestyle. Certain tests are conducted based on which a certain percentage of discount is offered to the customer. For example, under the Apollo Munich’s Energy Plan, a discount of up to 25% is offered to the customers after conducting two medical tests on diabetes patients. 

6. Free Health Checkups

This is not a part of the monetary discount but saves a good amount of money by offering free medical health checkups. These checkups are conducted after a certain specified period of time as mentioned by the insurer. For example, L&T’s my health medisure prime plan offers health checkup to its customers every alternate year while Care health insurance offers a free health check up to its policyholders every year. 

7. Girl Child Discount

To support the healthcare of the women and empower them, certain insurers offer discounts of up to 5% to the women policyholders. This discount is applicable on both individual and family floater plans. 

Conclusion 

You can avail these discounts by ensuring that they are included in your health insurance policy. To know your inclusions and exclusions in a policy, you must carefully read the terms and conditions in the policy-related documents. 

Also Read: Discounts You May Find in Your Health Insurance Policy

10 Exclusive Discounts That Reduce Health Insurance Premiums

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.