Tips to Help You Reduce Your Health Insurance Premiums

A health insurance cover has a deductible -- the amount that you pay on your own before your insurance cover starts.

As important it is to have a health insurance cover, what many people fear are the premium ofhealth insurance costs of health insurance policy.

However, keep in mind that the lower you pay, the lower coverage you receive as the premium costs are non-negotiable.

So, here we give you six ways in which you can lower your health insurance premiums:

• Buy at young age

  Your medical history, health and age decides your premium. So, it is important that you buy best health insurance plan in India when you are young and relatively healthy and disease-free. More the diseases or ailments, more premium you will have to pay for.

• Family floater plans can be a good bet too

  When two or more people are involved in the health coverage, the cost for an individual goes down and they all come under a floater plan coverage.

• A multi-year premium payment works well

  You can opt to pay premiums for two or more years instead of the usual one -- one of the options or discounts offered by companies. This reduces the premium as well as the policy stays for at least two years.

• Higher deductible

  when you pay a higher deductible, you reduce the amount you pay as premium for your health insurance coverage. There are policies offering voluntary deductible option. In this, a customer can pay a part of the medical bill himself before making a claim. However, while a higher deductible will lower your premium, you may end up bearing more healthcare costs on your own.

• Top-ups are good for higher coverage

  It is obvious that if you have higher coverage, you will end up paying more premiums. Hence, a wise move would be to split the required cover and add a top-up plan. This top-up comes into effect when the base sum assured is exhausted.

• Compare and buy online

  Scanning across the marketplace is a necessary step you need to take while buying a good health insurance plan or any insurance plan. Online, you can access products from multiple insurance providers and do a comparative analysis. Further when you are buying a health insurance policy online and not through an agent, you save costs in those fee too.

  Checkout HDFC Life's Click 2 Health plan. Choose wise.

Tips to Help You Reduce Your Health Insurance Premiums