7 Tips on How to Save Money on Health Insurance in India

 We all know that having life and health insurance cover brings peace of mind when it comes to doing the best for you and your family but you might worry that the cost of having this sort of protection might stretch your household budget.

 You definitely have options that allow you to get the cover you want but make great savings by being savvy about where you go for your health insurance and what options you choose.

 The Arogya Sanjeevani policy, for example, which is offered by Royal Sundaram offers cover that could cost as little as Rs. 7 per day, so you can save money and still have that all-important peace of mind that comes with knowing your family is protected.

 Here are some top tips to help you make some smart choices and save money on your health insurance in India.

 The sooner you start

 A bit like putting money into your pension, the sooner you start the better your options, and that is the same with buying health insurance.

 Buying your policy when you are young and fit will mean you get good coverage for less money and there is no time like the present to make sure that your family’s health needs are taken care of.

 Look at your whole family to get better rates

 You might want to look at what is called a family floater plan, which tends to offer better value for money than a standard plan.

 The reason for this is due to the fact that you are arranging so-called umbrella coverage.

 Your buying power is greater when you are arranging cover for more than one family member and that usually means you enjoy good options at competitive prices.

 Start with the basics

 A good tactic can often be to choose a basic plan that gets you started and then look to add a top-up plan as your needs change.

 This keeps your costs low and allows you to be very efficient with your coverage needs.

 Look for deals online

 The internet is usually useful for allowing you to compare prices easily and the general trend you should find is that shopping for health insurance online can often be cheaper.

 India is a country that has embraced digitization and you can take advantage by shopping around online.

 Work out what you need

 A cost-effective way of arranging health insurance that suits your budget is to do your calculations to work out exactly how much health cover you actually need.

 Only buying what you know you need will help you avoid overpaying by buying excess coverage.

 Make it easy to save money

 Insurance companies tend to reward people who lead a healthy lifestyle with lower premiums because they are less of a risk when it comes to making a claim.

 A great way to get the best rates is to adopt a healthy lifestyle and avoid bad habits like smoking, which sends premiums higher every time.

 Think ahead

 Good financial planning is always about trying to work out your future financial needs well in advance and buying longer-term health plans is often a good way of paying a lower premium overall.

 If you are savvy with how you approach buying the health cover you need for you and your family you should be able to enjoy peace of mind at the lowest possible cost.