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How To Select A Budget Health Insurance Plan?


In the times of ever-soaring medical care cost, buying a health insurance plan is a must. There are a number of benefits that a health insurance plan has to offer including medical expenses cover as well as an ultimate instrument to save tax. Though there are individuals who enjoy a group insurance cover from their insurer, there are those as well, who do not have employers such as considerate or run a business. In such a situation budget health insurance is a must. The best health insurance plan should offer you financial freedom from medical care expenses without hampering your existing financial planning.


Buying a budget health insurance plan:


Besides choosing the best health insurance plan, it is also important to choose a plan that comes in your budget. Buying an expensive plan that your affordability can rip you apart from your savings which isn’t the ultimate goal of health insurance. The importance of buying the best insurance plan cannot be overlooked. Small medical expenses can ruin your financial planning significantly and leave you stunned. However, with an efficient health insurance plan, you can easily make up for unwelcomed medical expenses, without going broke. Here are a few reasons you need a health insurance plan in the first place:


• It offers you a cover from an unexpected medical expense.


• The health insurance plan covers even expensive medical expenses.


• Health insurance plans have lower premiums than other insurance plans.


• They offer an extensive cover against medical expenses.


• When you avail a health insurance from a trusted insurer, the chances of rejection are a bare minimum.


• Easy, and swift claim process.

Important things to keep in mind while availing budget health insurance plan:

When buying an insurance, you must have your budget in mind. Even though you might think of the future value the insurance would offer you, it is also about maintaining your financial composure at the current state. You need to choose the coverage amount smartly but do not overlook your premium paying capacity. Here are a few things to keep in mind while buying a budget health insurance.


• Annual income:

First and foremost, ask the insurance policy consultant to offer you a policy that matches the annual income of your family. You should buy a medical cover which is neither under nor overvalued for your income level.


• Premium:

Make sure the premium is affordable. Many times, people buy expensive life insurance cover which calls for a higher premium payment. However, this can create a problem in the future in case you lose your ability to arrange for a higher premium.


• Short-term and long-term financial goals:

A family or even an individual has financial goals that need to be met in near or distant future. While buying an insurance plan, one should make sure that the premium and the cover is well aligned with the long and short-term goals.


• Cumulative bonus:

A cumulative bonus is a great way to secure a budget health insurance. When you have a claim free year, you can enjoy either a discount on the premium or an increase on the premium. This is a great way to make your insurance more affordable.

These are a few ways to buy the best health insurance in your budget.

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ManipalCigna Health Insurance Company Ltd (Formerly known as CignaTTK Health Insurance Company Limited) | CIN U66000MH2012PLC227948 | IRDAI Reg. No. 151 
Reg. Office: 401/402, 4th Floor, Raheja Titanium, off. Western Express Highway, Goregaon (East), Mumbai- 400 063 | Toll free number – 1800-102-4462 | Website address – www.manipalcigna.com
Trade Name / Trade Logo belongs to MEMG International India Private Limited and Cigna Intellectual Property Inc. and is being used by ManipalCigna Health Insurance Company Limited under license. For more details on risk factors, terms and conditions, please read the sales brochure/ sales document available on our website (Download section) before concluding a sale.

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