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Tips to Smartly Use Your Health Insurance Policy

By Finserv MARKETS - Feb 26,2019
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Tips to Smartly Use Your Health Insurance Policy

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Health insurance can be costly if you fail to select the right plan. There are plenty of health insurance plans available in the market. That’s why it’s important to conduct extensive research and compare many policies before settling for one. The most vital aspect of your health insurance plan is that it should provide adequate cover for your specific needs and requirements. This write-up will provide you with all the important information you require to be able to make the most of your health plan.

Tips To Smartly Use Your Health Insurance:

  • Start young
  • Avoid switching between different policies
  • Engage in the services of an insurance agent
  • Know your needs
  • Choose a high-deductible plan
  • Pay your premiums on time

1. Start young

Opting for a health policy at an early age will provide you with a host of long-term health insurance benefits. There are no medical tests required for clients below the age of 40 and the monthly premium will also be significantly less. If there are any subsequent ailments, then they will get covered by the health policy. However, this won’t be the case if you don’t opt for a plan while you’re young. Purchasing an insurance policy after the diagnosis of a disease will be costly as the premiums will be higher.

2. Avoid switching between different policies

Sticking with a single plan comes with a plethora of advantages. This is because your health insurance provider will offer perks to retain you as their customer and this can be advantageous for both parties.

3. Know your needs

Do you need health insurance just for yourself or also for your family members? If you want to insure your loved ones too, then researching about the various family health insurance plans would be beneficial. Opting for a family floater plan will result in extensive coverage at affordable premiums.

4. Choose a high-deductible plan

This type of plan is appropriate for people in excellent health condition and who don’t visit the doctor often; helping them save a lot of money. Conversely, there are risks involved with this policy as exhaustive coverage won’t be offered for life-threatening illnesses.

5. Pay your premiums on time

This goes without saying, but to avail flawless services from your insurer, it’s advisable that you make timely premium payments as per the agreement. Your health provider may also offer discounts in the form of a reduced premium if you stick with your schedule.

Selecting a policy from the best health insurance plans in India is bound to provide a plethora of benefits to you and your family.

Now that you know everything about how to manage your policy, buy one with Finserv MARKETS today and avail a host of benefits and features.

Read our top blogs to know more about health insurance in India:

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Bajaj Finserv Direct Limited ("BFDL") is primarily engaged in distribution of financial products and services through its digital platform (“Bajaj Finserv MARKETS”) and inter alia renders services of customer acquisition, providing preliminary credit support activities, fulfilment services and post-acquisition customer services to Banks, NBFCs, HFCs. BFDL is also a registered Corporate Agent (Composite) under valid IRDAI registration number: CA0551 valid till 10-Apr-2024 for solicitation and servicing of Insurance Products. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522