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Tips to plan health insurance premiums considering inflation!

Online Health insurance plans by Bajaj Allianz include individual health insurance, family floater health insurance, add on health cover, senior citizens and women specific critical health insurance policies.

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Tips to plan health insurance premiums considering inflation!

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  1. Best Health Insurance in India

  2. Tips to plan health insurance premiums considering inflation!

  3. However, many people fail to plan for an important aspect of health insurance – the premium. With rising inflation, not only are health care costs rising, but also health insurance premiums. • This is because health insurance companies are forced to shell out higher amount when there is a claim due to soaring medical costs. • How can you as an individual plan to meet these rising premium payments

  4. Build a health corpus by investing in equities: Over the long term, return on equities beats inflation levels. By regularly investing in mutual funds in the form of Systematic Investment Plans (SIPs) over the long term, you should plan to build a health corpus for later years of your life. • Usually Best Health Insurance in India premiums are very expensive when you cross 60 years of age. This is when you can make use of this corpus and reduce your sum assured on your health insurance. • This can reduce a high health insurance premium and offset inflationary effects.

  5. Instead of taking a health cover with a single insurance company, you can consider splitting it across 2 companies. • For example, instead of taking Rs. 10 lakhs cover with one insurer, you can take Rs. 5 lakhs each of health cover with 2 companies. Not all companies increase premiums uniformly. • Therefore, you can benefit from a lower price increase if you split the cover. Although this is not a definite way of reducing your outflows, there are chances that the two separate premium payments will be lower than a single premium payment. • Health insurance premium is an essential expense head in your personal balance sheet and you should give it the importance it deserves. By planning well in advance for the rise in premiums, one can manage such increase in outflows effectively. • [Source: https://blog.bankbazaar.com/tips-to-plan-health-insurance-premiums-considering-inflation/]

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  7. Click to know more on Best Health Insurance in India visit: https://www.bajajallianz.com/Corp/health-insurance/health-family-floater.jsp Thank You…..

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