The
tips listed in this article will guide you in buying health insurance and
saving on premium!
None of us like to shell out extra bucks. Most of us are
looking to save our money, whatever the situation or occasion may be. The same
holds true for when we are buying health insurance.
A medical insurance is a must by all means; but what about
the premium that we have to pay? Now that is something we can surely do away
with right?
Well if life turned out the way we thought it would, I
would have been a Nobel Prize winner and you a millionaire. Now we can’t
entirely eliminate premiums from our lives but we can certainly work towards
reducing the cost of them.
Does that sound good enough? If yes, then these tips listed
below will help you in purchasing health insurances in a way where you can save
your premium!
A Note
To Remember: Various Factors Affect The Premium That You Pay
It is vital for
policyholders to note that health insurance premiums keep undergoing
transformations every year. However, if you purchase a life-insurance plan,
then the premium is paid only after the policyholder is deceased. That way, the
premium for lifetime insurance plans is fixed.
·
In case you find your health deteriorating, you
will end up paying more premium as it has a direct relation to the benefits of
the policy taken up by you.
·
You may also end up paying a high premium if
you don’t claim any medical benefits for more than a year.
·
In order to make sure that you are paying the
right amount of premium, make sure you do an online check of the premium that
your policy provider is giving to fresh customers.
· You should also check the premium policies that
are being awarded to customers by other insurance providers.
Stay Healthy, Wealthy And Wise
·
This has to be the most important tip
from the lot; always aim to stay healthy.
·
If you are a smoker, quit the habit as
smokers are at a greater risk of passing away than most.
·
Also those suffering from high blood
pressure should make it a point to keep the same under control.
We Before Me: Buy The Insurance Plan Not Just For Yourself But
For Your Family Too
·
Buying a policy for
an individual always costs more. Stick to buying the medical insurance for your
entire family.
·
By doing the same,
you also benefit by availing a high cover.
Also keep in mind
that the likelihood of more than a single member of your family making a claim
under the family insurance policy within the same year is minimal.
Look Out For That Discount
Always be on the
lookout for insurance providers that offer discounts. There are some that offer
discounts to families that have more than four people covered for insurance.
·
There are others
that offer a special discount for the girl child; a gesture that has been
implemented owing to the sad truth of families not buying insurance policies
for their daughters.
·
Discounts can help
you save up on the premium.
The Two-Yearly Ritual: Always Review Your Policy Every Two Years
·
If you renew your
policy for two years, you will be able to save on health premium by a large
margin and you also succeed in saving yourself from paying an increase in the
premium for the next year. How cool is that!
Know What You Need- Choose Your Policies Smartly
·
Choosing the
correct insurance policy is no rocket science.
·
All you have to do
is judge your current situation and the likelihood of your future shaping up
according to your plans.
·
By doing this, you
can choose the appropriate insurance plan to save on premium. If you are ill
and your health is deteriorating, choose a plan for which you would have to pay
minimum premium.
·
If you are healthy
and keeping well, choose a cover that has the lowest amount insured. Without
claiming the benefits through the years, you can increase the cover without
paying added premium.
Say No To Extra Insurance Facilities
·
Insurance providers
package facilities in a way that can make the customer pay extra for the added
advantages.
·
Most insurance
policies come with added features and policies that cost extra money. Some of
these features include coverage fees for accidents, critical illnesses, health
check-ups etc.
·
It’s best to avoid
purchasing insurance policies with such added benefits. Stick to the basics and
save on premium.
From One Insurer To Another
·
You can always
transfer your insurance policy from one insurer to another, if you feel that
there is no way possible to save on premium.
·
If you choose this
option, you can successfully stop your insurance providers from demanding a
high premium from their existing customers.
So next time you buy an insurance policy, keep
these tips in mind and you will end up saving on premium like never before!
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