How to Save Money on Health Insurance Premiums Without Compromising Coverage
Living in a fast-paced world has become increasingly stressful, which is impacting the health of many people, especially in India. According to a large-scale survey by Statista, almost 61% of Indian women and 47% of Indian men were unhealthy based on their diet and lifestyle choices. Therefore, having the best health insurance plan has become crucial in a bid to manage the rising healthcare costs.
Today, there are several insurance plans available for you and your family. However, the policies may differ on several aspects, such as premiums, benefits, coverage, and more. It can be a possibility that you might be paying a higher premium if you do not have the right knowledge and information. In this piece, we will discuss how you can save money on premiums and get the best affordable health insurance.
One can get several benefits from purchasing health insurance at an early age, as the premium for health insurance increases with age. In other words, the rate of the health insurance premium is directly proportional to the age of the policyholder. This is due to the fact that people are more susceptible to diseases as they age. Therefore, the premiums will cost less at your young age owing to the lower risk to the insurance companies.
Buy insurance for the entire family.
Another way to save money for an individual is to purchase a health insurance policy for family instead of buying individual plans for each member. A family health insurance plan provides coverage on a floated-sum insured basis. The benefit of this floater plan is that all the family members share its benefits, and you only need to pay a single premium amount. Thus, it leads to huge cost savings on premiums.
Go for long-term tenure.
The long-term tenure of a health insurance policy can help you save on premiums. Typically, plans that come with a tenure of two or three years are less expensive than one-year plans. Therefore, you get the best affordable health insurance with a long-term policy discount, which also saves the hassle of renewing the policy every year.
Choose the coverage wisely
In order to save on the premium you are going to pay, you must choose the coverage with the utmost care. However, the terminology of insurance can be overwhelming for some people, and choosing the best health insurance plan can become difficult. This is where consulting a licenced insurance broker, such as Policy Ensure, can be the best option. Their insurance advisors or point-of-sale people (PoSP) can comprehend your needs and help you choose the coverage by suggesting the most affordable health insurance for you.
Lead a healthy life with Policy Ensure
Having health insurance has become crucial in today’s time and age, whether you are purchasing one for yourself or a health insurance policy for family. However, in a bid to save money on health insurance premiums, one must purchase a policy at a young age, buy a floater plan for the family, consider a long-term tenure plan, and choose the coverage wisely.
For some people, purchasing the best health insurance plan can be daunting, but fortunately, licenced brokers such as Policy Ensure are here to help. You can reach out to a PoSP, who will understand your requirements and then suggest the best insurance policy that is affordable for you. This is how a broker can help you future-proof your health in a hassle-free and convenient manner.