How to maximise your health insurance coverage affordably?

Health insurance is a boon to everyone looking to safeguard their savings from the rapidly rising healthcare expenses. Nevertheless, the level of coverage you desire might lead to higher premium costs. This article aims to guide you in optimising the benefits of your health insurance plan while guiding you to help keeping your premiums low. Learn how to make the most of your health insurance by achieving a favourable balance between coverage benefits and premium expenses. This article outlines some key factors to consider when selecting a health insurance plan.

Family floater plan
If you are young and your family medical expenses are high, you can go for a family floater plan. When you purchase a family health insurance policy, you can cover the maximum members of the family by paying a lower premium. 

On the other side, if you have a family member with a pre-existing disease, you can go for an individual health insurance policy. Remember, having a similar health insurance policy for a family member with a pre-existing disease can hike your premium.

Healthy lifestyle
Your healthy living habits can help you pay less premium for your health insurance policy. Reducing tobacco use and alcohol consumption, improving your diet, and exercising regularly can reduce your chances of various ailments and, in turn, reduce the premium you need to pay to get a health insurance policy.

Add-on covers
Most health insurance plans provide additional benefits called riders that are priced individually. Based on your lifestyle, habits, overall health parameters, etc., you may choose only necessary riders and leave out some of the more expensive ones. By choosing what is required and what’s not required you can make sure your health plan covers all that is essential for you. 

Get a plan that you can customise according to your needs and choose your riders wisely before finalising your policy. 

Limiting hospital room cost
In your health insurance policy, you can choose your hospital room coverage too. You can select from high-end private rooms to economical budget rooms. Take a smart decision and choose a hospital room with a low per-day cost to keep your premium amount in check. 

Co-payment
When you decide to pay a part of your expenses during hospitalisation then you opt for co-payment. When you opt for co-payment, it automatically brings down your premium since you offer to pay a part of your bills thereby reducing the coverage that you will need to take from the insurer. Co-payment lessens the financial liability of your insurer, and this benefit is passed on to the policyholder. 

Online purchase
Make sure you purchase your health insurance policy online after comparing various other policies. You can compare various health insurance plans online and select the one that aligns best with your requirements and offers a lower premium rate.

Lastly, remember there are multiple ways to reduce your premium amount. You need to make sure you go with the ones that resonate with your needs. 

Port your health insurance
If you are not happy with your current policy, you can also opt to transfer or port your health insurance coverage to a more suitable one. You can look for health plans that offer better coverage within your budget.

In conclusion, maximising your health insurance coverage while keeping your premiums low requires proper research, comparison, and evaluation of your healthcare needs. You should also consider factors such as deductibles, network coverage, and value-added services. Fortunately, Bajaj Finance Insurance Mall offers a range of health insurance policies through leading insurance partners on their platform, making it easy for you to find the right policy that meets your needs and budget. So, take advantage of this platform today and protect your health without breaking the bank.

At Bajaj Finance Insurance Mall, you can find health insurance and pocket-friendly health insurance plans that offer extensive medical coverage. You have the option to choose from 300+ health plans across various categories like teleconsultations, critical illnesses, accidents, and more. You can explore multiple health insurance plans from our trusted partners. By just providing a few basic details, you can get quotes from multiple insurers in one go. Plus, you can view product features, compare prices, and purchase a plan that is best suited to your needs. All this in a matter of minutes and from the comfort of your home.

Disclaimer : *T&C Apply. Bajaj Finance Limited (‘BFL’) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, SBI General Insurance Company Limited, ACKO General Insurance Limited, ICICI Lombard General Insurance Company Limited, HDFC ERGO General Insurance Company Limited, Tata AIG General Insurance Company Limited, Niva Bupa Health Insurance Company Limited , Aditya Birla Health Insurance Company Limited, Manipal Cigna Health Insurance Company Limited and Care Health Insurance Company Limited under the IRDAI composite CA registration number CA0101. Please note that, BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. Please refer insurer's website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. URN No. BFL/Advt./23-24/202