Reasons to Buy Health Insurance on EMI
Most of the Indian population doesn’t have medical cover as paying insurance premiums in a single installment seems a financial burden to them. But now anyone can buy a medical insurance policy, as healthcare financial services allow individuals to pay in easy EMIs. You can pay a fixed amount every month against your health insurance cover.
Advantages of Buying Health Insurance on EMI
The facility to pay a premium in EMI has made health insurance affordable for all income groups; as they do have not to worry about paying the entire premium in one go. Health insurance on EMI, along with the facility to buy insurance online and with premiums to be auto-debited from your bank account, has made buying health policies a lot more convenient.
Higher Coverage: Paying in small amounts provides you with an option to opt for higher health coverage. You need not compromise to avail the facility of the best health care facilities, as you can afford policies with high-sum insured, and can pay in easy EMIs.
Accessible: As buying in EMI is a lot cheaper, it becomes accessible for all. As there is no need to pay a large sum in one shot, paying in EMI keeps your monthly budget in balance, while providing you with financial protection at the same time.
Better Option for Senior Citizens: Seniors are more prone to disease, and need higher health coverage. Moreover, it can be less affordable for them to buy a health cover with higher coverage. Paying in EMI makes it an affordable option for seniors who may have a limited monthly income.
Online Payment: You can also pay for your EMIs online. Healthcare financial services even send reminder alerts for your EMI when due. Also, you can choose an auto-debit option where an EMI can be directly paid through your bank account on the respective dates.
Tax Benefits: Paying for your medical insurance in EMI allows you to get tax benefits under Section 80D of the Income Tax Act 1961.
Digital Health Cards from Gmoney
GMoney has introduced a unique digital health card to take care of your finances in times of medical emergencies. Even if you have a cashless health insurance cover, you should consider applying for this unique health card, as it makes healthcare facilities affordable to patients all across the country. Along with instant loan approval based on your existing medical insurance, this smart card offers a number of facilities including the following:
You can opt for your medical treatment from your choice of hospital, even if it is not on the list of cashless network hospitals from your health insurance provider.
With a digital health card from GMoney, you can get an advance against your existing medical policy. It facilitates you to pay for various healthcare services at hospitals that don’t offer cashless treatment facilities.
You can pay with a digital health card for out-of-pocket expenses during your medical treatment, or can pay for your medical bills when your health policy is falling short of the funds.
GMoney health cards allow you for quicker medical payments with no waiting for approvals and disbursals, and without any collaterals.
You can repay in flexible no-cost EMIs as per your budget, and with 0% interest.
Conclusion
There are many health insurance companies in the market offering EMI options. Research in advance before finalizing a health insurance cover and consider choosing a medical cover that offers no-cost EMI. Moreover, read carefully all the terms and conditions before any commitment and enquire in detail from the healthcare service provider.