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Affordable Health Insurance in India 2024

Health insurance policy is a necessity in today’s time. Affordable health insurance plans can offer you financial security during a medical emergency.

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Is Health Insurance Affordable in India?

Health insurance is a necessity in today’s time. Affordable health insurance plan can offer you financial security during a medical emergency so you can access the best possible treatment. Medical insurance also offers you benefits like preventive health check-ups that help you maintain a healthy lifestyle and catch an illness in its embryonic stage. Moreover, investing in a good plan gives you peace of mind and protects your savings in times of emergency.

Despite the several advantages offered by health insurance plans, a lot of people still look at them as an avoidable expenditure. The cost of purchasing a health plan is seen as an unnecessary liability. This attitude is primarily found in people of younger age groups. Since people in this age group are in the prime of their health, they do not see the need to buy health insurance.

The notion that health insurance is expensive and therefore unnecessary is completely false. Firstly, you can easily get health insurance at the lowest premium amounts in India. Many good individual and family floater health plans in the country provide wholesome, all-inclusive protection at inexpensive rates. These plans can fit into any budget or income group and can be customized as per your unique needs and medical requirements.

Secondly, fortunately, the cost of health insurance in India is comparatively lower than in other countries, such as the U.S. This is primarily because of the affordable cost of treatment in India. Buying a health insurance plan is highly recommended, regardless of your age or health status. A health emergency can strike at any time. And even though the cost of healthcare is low in India, compared to other parts of the world, it can still add up to a lot. Covering these expenses out of your pocket can hamper your monthly budget and long term financial goals.

You can buy an affordable health insurance plan to cover the costs of most medical expenses in India. Affordable medical insurance policies can offer some of the best features with comprehensive protection that secures you and your loved ones in trying times.

Factors That Affect The Premium Amount In India

The premium amount is decided on the basis of a number of aspects. Some of these have been discussed below:

  • Age: The cost of health insurance is generally lower for younger people. These costs begin to rise as the person ages. So, if you want to get an affordable medical insurance plan, you should try to purchase a plan when you are young. The longer you wait to buy health insurance, the higher will be the premium charged.
  • Investing early in life: Purchasing a health insurance plan early also benefits you in other ways. Every health plan comes with a waiting period during which you cannot raise a claim. So, if you buy a plan early, you can claim insurance at a later stage in life when you need it.
  • No Claim Bonus (NCB): The NCB is a bonus that is applied to the premium of your policy if you do not raise any claims in the previous term. For instance, if you do not raise a claim this year, you would be eligible to get the same plan at a lower premium or with a higher coverage (with the same premium) the next year. The NCB can help you fetch a reasonable discount or get a higher coverage and enjoy affordable health care. So, try to limit your claims unless absolutely important.
  • Family floater health insurance: Some plans can offer lower premiums than others. For example, the premium for a family health insurance is lower than individual medical insurance plans. If you want to get affordable medical insurance, switching to a family floater plan can be more affordable. Family health insurance plans are also more beneficial in other aspects. They protect all the members of the family and reduce the hassles of buying multiple policies.
  • Super top-up plans: You can get a top up health insurance to increase the coverage of your policy at a very low premium. Super top-ups are one of the most affordable health insurance plans and a great way to enjoy enhanced features and services at inexpensive costs. These plans increase the coverage of your policy from the base policy, so you get to enjoy better features without putting a strain on your pocket.

To Read full details visit: https://www.tataaig.com/health-insurance/affordable-health-insurance

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