Health Insurance 637 views May 22, 2021

Health insurance plans, which offer financial protection to individuals amid a medical emergency, come with different premiums based on the coverage amount, the age of the insured, existing health conditions, etc. The premium payable towards a plan goes on to cover expenses during hospitalization as well as before and after it. But paying more through the premium than an individual for the same coverage amount may make you feel slightly aggrieved! So, it’s important to analyze carefully and look for a plan with a high coverage amount and low premiums.  But many don’t know how to go about it and err while choosing a plan. So, if you want a health insurance plan offering a high coverage amount and low premiums, the below-mentioned tips may interest you!

Health Insurance

Please fill the details below and our policy experts will call you to help figure out the correct health insurance policy for your needs


Check the Tips for a Low Cost Health Insurance Plan

The tips for a low-cost health insurance plan include comparing offers online, choosing a policy at the earliest of ages, making the most of wellness rewards, etc. We will discuss each of these factors below. Take a look!

Compare Health Insurance Plans Online

Firstly, you need to compare different health insurance plans online in terms of coverage as well as the premium. We at take pride in helping you compare plans and choose the one that is top-notch in terms of coverage and premium. Come to us and choose the low-cost health insurance plan from India’s top insurers.

Health Insurance PlansCoverage Amount (In INR)Annual Premium Payable (In INR)
Niva Bupa Health Companion3 Lakh - 1 CroreStarts from 5,085
Niva Bupa ReAssure Health Plan3 Lakh - 1 CroreStarts from 9,111
Star Health Comprehensive Plan5 Lakh - 1 CroreStarts from 7,015
Star Health Family Optima Insurance Plan1-25 LakhStarts from 7,285
Aditya Birla Activ Health Platinum Enhanced Plan2 Lakh - 2 CroreStarts from 7,722
Aditya Birla Activ Assure Diamond Plan2 Lakh - 2 CroreStarts from 6,371

Note – The premium mentioned against health insurance plans above are exclusive of Goods and Services Tax (GST). 

Don’t Delay in Taking Health Insurance

Often people take health insurance much later than they should and end up paying more through premiums. Yes, the premium depends on your age. The common belief regarding one’s health likely to deteriorate when they are 40 and above forces insurance companies to hike the premium for people of such ages. What’s more, the health insurance premium does not remain the same throughout – it changes as you move on in your life. Typically, health insurers keep slabs of five years, and when you move from one slab to another, the premium goes up accordingly. That further reinforces the need to have health insurance at the earliest.

Premium Discounts via Advance Payments, Addition of Members

Paying the multi-year premiums fetches you a discount on your health insurance plan. So, if you pay the premium for 2-3 years in a lump sum, you could fetch discounts on the same. Similarly, premium discounts are available on adding family members to your health insurance plan.

Make the Most of Wellness Rewards

Health insurance companies also offer wellness reward points to people maintaining good health. The reward points result in premium discounts on renewal. All you need to do is participate in the wellness programs launched by the health insurer. These programs could be about health risk assessment by which an insurer can get an idea about your health. If your health is found good in the assessment, you could be greeted with reward points that would reduce your premium on renewal. Some insurers may ask you to walk for a specified number of steps daily, which has to be confirmed by a health application tool. So, depending on the wellness programs, the reward points can vary.

Health Insurance PlansWellness RewardsCriteria for Rewards
Bharti AXA advantEDGE InsurancePremium discounts of up to 5% in the form of redeemable pointsParticipation in wellness programs as specified by the insurer
Aditya Birla Activ Health Platinum Enhanced PlanPremium discounts of up to 100%Accrual of rewards only when the four members of a plan walk for at least 6,000 steps daily for a minimum of 16 days in a month
Star Health Young Star Insurance PolicyPremium Discounts of 2-10%Participation in wellness programs as mentioned by the insurer
ICICI Lombard Complete Health Insurance100-2,500 redeemable pointsHealth activities such as GYM/Yoga, participation in professional events like Marathon/Swimathon/Cyclothon

Micro Health Insurance Plans

These plans come with substantially lower premiums than their mainstream counterparts. Due to such low-cost premiums, the coverage also remains substantially lower. Most of these plans would come with maximum coverage of around INR 2-5 lakh and have premiums of about INR 500-1,000 annually.

People Also Read