Getting Health Insurance On EMI? Is it the right decision?

Oftentimes, people with little insurance coverage are satisfied with health insurance because of the high premiums it attracts. Because of this, they choose to have poor coverage or no health insurance. How about telling yourself that it is now possible to get adequate health insurance with adequate coverage? It is true! Now you can get EMI health insurance and pay the high premiums at affordable prices.

Insurers in India have started accepting premium payments in the form of monthly payments or EMI. The reason is that most people looking for health insurance have a hard time making a one-time payment on the policy. For this reason, IRDAI has required all insurance companies to accept monthly premium payments.

Why was the provision introduced?

The majority of the population of India does not have health insurance. In fact, the reason for this is the only major payment made under the plan. The main goal of introducing this provision is to make health insurance affordable. Also, people who cannot pay the lump sum can now do so in the form of EMI.

But do you think this is a great way to promote the importance of health insurance in the country?

In this article, we will discuss this. Let’s start by understanding the benefits of getting health insurance with EMI.

Reasons to buy health insurance on EMI

Every step or provision that IRDAI imposes benefits ordinary citizens of the country. We think paying monthly insurance payments can be helpful

You have access to health insurance (regardless of whether you belong to a small town or a city). However, it is certain that it will benefit the inhabitants of small towns since it will be much cheaper this way.

In fact, it is also beneficial for people in urban areas, as they can pay bonuses with their income every month. In addition, it is a great opportunity for the insurance industry to prosper in large cities as well.

Thanks to the Internet, you can now get health insurance online. Furthermore, you can easily make your premium payments online through secure online portals. If you feel good, you can set up an automatic premium deduction directly in your account. This way you will not miss any delivery.

If this makes the insurance industry prosper, it will surely offer the public a wide range of insurance products. This will not only improve the industry but will also have a positive impact on customer service and improve the complaint process.