Health Insurance Premium Payment Online

The following are some of the key reasons as to why you should purchase health insurance on EMI: 

1. Enables customers from major cities to purchase the policy from their monthly earnings, while the insurance providers grow their business in these major cities 
2. You can purchase health insurance online and set auto-deduction or premium to avoid missing out on premium installment payments 
3. Benefits the customers, improves customer service, and simplifies the claim settlement procedures

How to Calculate EMI Premium Amount of Health Insurance?

The following are the points that should be considered before calculating the premium amount of health insurance: 

1. Number of family members insured 
2. Pre-exiting medical conditions, such as high-blood pressure, asthma, or diabetes 
3. Lifestyle habits, such as smoking, alcohol, or others 
4. Sum insured chosen 

1. Age of insured members 
2. Type of health insurance plan opted 
3. Medical cost of the city where the policyholder is residing 

Advantages of Purchasing Health Insurance on EMI

The following are the advantages of buying health insurance on EMI: 

1. Enhanced affordability: Making lump sum payment monthly can be quite challenging, therefore, EMI payment of health insurance premiums offers easier access to affordable health insurance without compromising on the quality of the treatment. 
2. Advantages for senior citizens: Health insurance premiums for senior citizens are comparatively higher than regular customers, as they are more vulnerable to health risks. EMI option for paying health insurance premiums makes them access high-quality medical treatment without draining their savings at a time. 
3. Offers higher coverage: EMI options ensures that you get access to high coverage health insurance policies without experiencing the burden of making lump sum payment all at once. 
4. Provides tax benefits: As per Section 80D of the Income Tax Act, a health insurance policyholder is eligible to claim tax deduction even after buying the health insurance on EMI. 
5. Convenient option: Purchasing health insurance plan through EMI makes these policies way more accessible to the rural population, as most people depend on monthly income. The system of monthly payments through online modes ensures hassle-free premium payment for the policyholders. 

1. Supports financial to cope with increasing medical cost: To helps individuals deal with the increasing medical cost, purchasing health insurance through EMI makes it way more accessible and helps manage the load of higher premiums. 

How to Choose a Health Insurance Policy on EMI?

The following are the steps to select the suitable health insurance policy on EMI: 

1. Opt for those plan that does not incur any additional charges for opting the plan on EMI 
2. Check the list of exclusions under the particular health insurance that you have selected 

1. Ensure the policy covers your medical needs and covers all the insured members 
2. Ensure the insurance provider has a track record of good customer service 
3. Select those insurance plans or insurance provider that offer cashless hospitalisation