What to Do If Health Insurance is Not Affordable?


Health Insurance is Not Affordable

Let’s think deeply about whether it’s easy to pay yearly premiums or an uncertain, massive medical bill at the hospital, which can affect your lifestyle for a very long time.

A lung cancer surgery can cost you around ₹ 3 lakhs and, in addition to that around ₹ 27000- ₹42000 per cycle.

Similarly, the average cost of dialysis ranges from ₹ 12000 – ₹15000 per session.

Let’s have a look at the points below to make health insurance affordable:

1). Awareness: Most people believe that they will not be able to pay their huge premium bills on a regular basis. But, that‘s not the case. The insurance industry has evolved in the last few decades, and now we have health packages that fit every pocket.

2). Your Claims do not get approved: Most of us are of the opinion that what if we have been paying premiums and what if our claims get rejected when we need it?

There are many insurance companies with extremely good claim settlement ratios.

To be more certain on the claim settlement part, it’s advisable to connect with an insurance broker who can guide and refer you to top health insurance companies.

3). Policy Type: The best thing about personal health insurance is that it can be customized based on every individual’s type. The premium depends on a number of factors, like the number of lives covered, age & demography, features, etc.

There are many packages available that cover basic to advanced health plans.

You can always seek the help of your insurance broker, who can provide a tailor-made health package that is most suitable for you.

It’s time to make health insurance a domestic product.

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Susheel Agarwal

Namaste. I'm Abhinay Nedunuru, a Fellow of the Insurance Institute of India with a passion to make insurance simple and crisp. I write on insurance and investment. I have a passion for teaching and training in particular to insurance. I'm currently doing my PhD from IIM in Management.