How to buy health insurance online?

A health insurance policy covers medical expenses incurred as a result of an accident, illness, or injury. An individual can acquire such insurance for a set policy tenor by paying monthly or annual premiums.

Online health insurance is a cost-effective and convenient way to obtain financial security in case of medical emergencies.

Here are the steps to avail the medical insurance online at Bajaj Finserv

  1. Fill in your details in the comparison engine such as name, age, marital status, the city of residence, number of members you want to get insured, occupation and annual income. Then, click on the 'get quotes' tab.
  2. In your bucket, the engine displays a variety of options offered by various insurers. The quotes can be compared based on multiple factors such as the maximum amount insured, premium, etc.
  3. You can click on a plan once you've made up your mind about it. You'll be sent to a health declaration form where you'll be asked to describe your work, medical history, and other pertinent information. You'll also be able to add riders and benefits to your plan here.
  4. After you've completed the declaration form, you'll be taken to the insurer's website, where you can select your payment method (debit, credit, or net banking) and complete the transaction.
  5. You will receive a digitally signed copy of the insurance as soon as the transaction is completed. You can print and save the policy paper whenever you want. Also, if you get stuck at any point, you can simply request a callback from an expert.

To apply for health insurance online at Bajaj Finance, follow the below simple steps:
  1. Visit our website www.bajajfinserv.in to choose the health plan of your choice
  2. After carefully reading the plan offers, click on the ‘Apply Now’ button at the top
  3. Fill in the necessary details along with your personal details such as name and contact number
  4. Make the fee payment online using your preferred mode of payment
  5. Complete the process by clicking 'Buy Now', you can also request a call back

Types of health insurance plans in India

Here are different types of health insurance plans in India:

Individual health insurance

A single policyholder is covered under this plan. The quantity of coverage will be determined by the insured person's age, medical history, and location if it is in a large city.

Family health insurance

A family health insurance policy is a type of health insurance that covers all members of your family under a single premium and a fixed sum insured. This policy gives guaranteed coverage up to six members in the family at the same time for hospitalisation, or any medical expenses incurred against the treatment taken for any illness or injury.

Critical health insurance

For severe illnesses such as cancer, kidney failure, brain tumour, and others, a critical illness plan provides a fixed benefit/payout. When a policyholder is diagnosed with a critical condition, the plan offers a lump sum payment, allowing him to receive intensive medical care without worrying about the costs.

Senior citizen insurance

A senior citizen health plan is tailored to persons over the age of 60. The plan focuses on medical contingencies (which may vary according to the policy) for people of a certain age and allows them to receive healthcare without worrying about medical bills.

Personal accident insurance

Personal accident insurance is a contract between an insurance company and the person insured. The former agrees to compensate the latter or his or her family financially in the event of death or disability caused directly and solely by accident. If an accident results in an injury that necessitates immediate care, the policy will pay the costs.

Benefits of buying health insurance

Medical bills: Coverage for medical expenses incurred during hospitalisation, prior to and after hospitalisation etc.

Pre-existing diseases: After a specific waiting period, you will be covered for any pre-existing sickness.

Reimbursement of claims: Hospitalization expenses incurred as a result of a medical condition are reimbursed on raising a claim with the insurer.

Tax rebate: Annual premium paid towards health insurance plan are subject to tax exemption under section 80D of the Income Tax Act, 1961. The amount of tax exemption varies between Rs. 25,000 and Rs. 75,000.

Hence it is imperative to have medical insurance in today’s day and age due to escalating costs of medical treatments. Online health insurance makes this process extremely easy.