Discounts in Health Insurance
Discount on a product makes a buyer happy as it helps save money. In health insurance too, there are discounts available that guarantees maximum benefits under a policy.
With discounts on the premium, for instance, a policy becomes more affordable for an individual. Buying health insurance plans has become a necessity, owing to the expensive medical care and increasing ailments which result in huge expenses for a family. Choosing a health policy with no claim bonus feature is beneficial as it provides unique benefits to a policyholder like discounts on premium.
Let us understand on how discount in health insurance benefits an insured person.
Discounts on Premium
Discount on premium would be available if a policyholder opts for longer policy tenure. For example, if a person pays the premium for a policy period of 2 or 3 years at one go, he or she becomes eligible for the discount on premium. Discount may range from 5% to 10% on the annual premium costs.
‘Care’ by Religare Health Insurance is a family floater plan which offers a discount of 7.5% for buying the policy for two-year term and 10% for three-year term.
No Claim Bonus
Policyholders are rewarded for spending a claim-free year. The feature of No Claim Bonus (NCB) works in two ways. Firstly, the policyholder becomes eligible for an increase in sum insured, by a certain percentage, every year. There is a maximum limit to this increase, usually 50% of the original sum insured.
Secondly, an insured person can also get NCB in the form of premium discounts at the time of policy renewal.
Discount on health insurance policy would also be available for adding other members of a family. A discount rate of 5% on the policy premium would be applicable if other members of the same family get covered under the same health policy. A higher discount may be available for adding a specified number of members. However, discounts would not keep increasing upon addition of more members.
There are discounts offered if the treatment is availed at any healthcare centre which is listed under your insurer’s network. Such discounts are defined by your insurer and the healthcare centre. The discount may be available upon availing medical facility or purchasing medicines at a network outlet. This is beneficial for the policyholders as it helps them lower their overall medical expenses.
Annual Health Check-up
The feature of annual health check-up proves beneficial for policyholders who can easily get their diagnostic tests done on a yearly basis. This gives them get a clear picture of their health condition and helps in preventing complications.
For insured persons, the aim should be to avail maximum benefits that will safeguard their hard-earned money. So, when selecting a health insurance policy, it is recommended to check for discounts. By opting for voluntary co-payment, a policyholder may get discount on the premium. Some discounts on OPD consultations may also be available.
Keep the above mentioned points in mind and secure your health with the best health insurance plan.
Choose a health policy from Religare Health Insurance which meets your healthcare needs in the best possible way, and get the maximum benefits through features like ‘No Claim Bonus’.