Easy tips to save on health insurance premium
By Lokmat English Desk | Updated: July 18, 2023 18:17 IST2023-07-18T18:17:52+5:302023-07-18T18:17:52+5:30
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Mediclaim i.e. health insurance premium has been steadily increasing for the past few years. Companies say increasing premiums is inevitable as treatment costs rise.
In such a case, to avoid having to pay high premium while renewing the insurance, taking care of a few things can save money. Don't claim for minor treatment Companies offer no claim bonus. No claim bonus in most companies if insurance is availed for minor treatment.
No claim companies offer no claim bonus for minor treatment. No claim bonus is not available in most companies if the insurance is availed for minor treatment. Also the premium increases.
Buy super topup It is beneficial to buy super topup on top of basic coverage. If the sum assured is 10 lakh rupees, if you take a super top-up of 50 to 90 lakh, the benefit is up to 60 percent.
Restoration Option Many companies offer restoration options these days. That is, if the original sum assured is used or a part of it is used, that sum can be reinstated.
Way to Port Insurance can be ported to another company if the existing company does not provide adequate benefits. However, make sure that the company has recently increased the premium. That means, there will be no need to pay increased premium for 1-2 years.
