How To Minimise Health Insurance Cost – Part II

In the earlier part we saw that if you buy an insurance policy, how you can save the cost on the insurance by buying the policy at an early age, opting for two year policies and availing no claim bonus. Here in this part, we will see some other measures which will help you save some money.

How To Minimise Health Insurance Cost – Part II

Buy Family Floater Plan

Family plans are health insurance policies where every member of the family is covered by one policy. The advantage of buying such a plan is that you don’t have to buy individual policies for each and every member of the family plus you end up paying one premium only for the entire family and you don’t have to maintain different policies. This saves lot of money and time and effort for the less number of policies, the less is the hassles when the need arises for claims. Usually companies offer family plans for spouse, kids and dependent parents. Some companies do offer policies which covers kin and in-laws too. They do charge some extra premium. If there is a senior member in the family and who has pre-existing ailments then it is important that you buy a separate individual insurance policy for that member and rest of the members can be covered by Family plan.

Look Around for Plans Suitable for You

Since Health insurance sector has opened up in a big way, and with the entry of many private players, there is stiff competition in this field. So, you can use this competition to determine which companies are offering what and at what premiums. This will help in giving you better understanding of the prevailing rates in the health industry for premiums and will help you in opting for a good plan which offers a good coverage but at nominal premium. It is most important to compare plans from different companies before coming to a decision to buy a policy. Read all the benefits being provided by the insurance company.

Living a Health Life is the Most Important Thing

No one wants to fall sick or get hospitalised. So to avoid such a scenario it is very important a person leads a very healthy life. It is also important to get yourself checked regularly once you cross 40. Always keep a check on weight, try to quit smoking, exercise regularly, get good sleep and avoid junk food. These are the mantras of living a healthy life and to avoid medical expenses

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