Mediclaim is a health insurance policy offered by state and private insurers in India. It affects a wide range of people, from individuals to families.
A premium calculator is a tool used for calculating your monthly premiums on mediclaim plans sold by insurance companies in india. In this article, 13 benefits of using mediclaim policy premium calculator before buying a Mediclaim plan are explained.
1) Saves Time – One can save time spent going around different places to compare other options. There are plenty of online calculators’ available, allowing users to compare different plans and prices on one screen without coming across any physical store.
2) Personalized Comparison – The online calculator allows users to compare different plans on the basis of their own terms and conditions. It allows them to compare other options based on services offered by the insurer, premium amounts, age groups, family composition etc.
3) Select Their Own Parameters – One can choose the parameters of quotes according to one’s needs and requirements. All one has to do is enter data related to his or her provision, including basic information like age group, location, etc. Then select parameters like deductible amount (the higher the deductible amount is the lower will be premium), policy term (longer the duration lesser will be premium), waiting period (shorter period results in lesser premium), type of hospitalization facilities available, etc. Once the data has been entered, all the related plans will show insurance companies, their premium amount and policies.
4) Compare Plans – One can compare different options available in terms of insurer’s name, their features, etc. This ensures that adequate research is done before buying a policy. The individual may also get an idea about a particular company’s credibility and reputation in the market after comparing various quotes offered.
5) Avail Better Deals – With online tools at hand, one can easily calculate their future premiums depending on different parameters like age group, location within the state etc. Once the policy term has been decided, one can place an order for purchasing it, but if required to opt for financial products, they can do it on the same visit only.
6) Save Money – The biggest advantage of comparison of different mediclaim policies online is that one can save as much as around 10% to 20% of their total premium through this process. This may sound small, but considering the overall expenses on a mediclaim policy, this amount helps cover some unexpected expenditures that may arise during the treatment period.
7) 24X7 Availability – Mediclaim availability round the clock ensures that people have options available at their convenience and need not necessarily rush to the marketplace during opening hours. One can buy their policy from any part of the world with just a click away from a mouse or touchscreen, depending upon the device used to browse the internet.
8) Stay Updated With Policy – One can remain updated with the policy’s renewal dates and any new changes that may have been made in the policy, whether it is a change in dues or premium amount.
9) Variety of Plans on Offer – There are plenty of options offered by insurance companies for different sections of the population, including children, adults, senior citizens, etc. Each category has its own set of plans according to requirement, so one can choose accordingly while purchasing a plan online.
10) Better Understanding about Insurance – With the availability of comparison tools on websites listed, one not only learns about mediclaim policies but also gets aware about life insurance products offered by various insurers, e.g. there are term insurance plans available covers specific amount for a limited period and endowments plans which provide amount to beneficiaries after the term of policy expires etc.
11) Easy Payment Process – For purchasing a mediclaim policy online, one does not need to pay by cash only; other modes are available like credit or debit cards. There is no extra effort required in such cases for making payment such as visiting a bank branch, withdrawing cash etc.
12) Time Efficient – Buying a policy from anywhere in India can be completed within a few minutes if one visits an insurer’s portal. In addition, payments online further save time and work done in terms of making payments or doing paperwork involved, especially for senior citizens and minors who find difficulty maintaining all things in parallel.
13) Convenient – One may purchase a policy from the comfort of their home using a computer or a smartphone. There is no need to visit any agency for this purpose, and time required in visiting an insurer’s office can be utilized more productively in some other works.
These are some fantastic benefits of a premium calculator, and Care Health Insurance provides all these benefits with utmost trust.