Discounts Offered by Health Insurance Companies

By | February 16, 2022

There are several types of discounts available on health insurance (Mediclaim) policies. No-claim bonus, cumulative bonus on premium, reward points for policyholders with healthy lifestyle, special discount for women, vouchers, etc. So let’s talk more about that today.

Discount for Family Members

Most Health Insurance Companies offer discounts if the policyholder takes out a policy with other family members. This discount is available not only when you add more members to the Family Floater policy, but also when you purchase a different policy for each member.

Long Term Discount

If customers pay more than one year premium at a time, they are given a discount. Equally large to the company It is natural that they give a discount if they get the amount. generally If two to three years premium is paid simultaneously, 5 to 10 percent discount is given in premium.

No Claim Bonus

If the insured does not make any claim during the term of the health insurance policy, he is given a bonus every year. This is called a no claim bonus. A certain amount or percentage This bonus is added to each claimfree year. Bonuses Percentages range from 5 to 50 percent And up to a maximum of 200 percent Can go. Policyholder own There is also a facility to transfer the no claim bonus when the policy is ported to another company.

Shirpav For a Healthy Lifestyle

Most companies offer rewards for a healthy lifestyle to attract customers. E.g. A pioneer Two consecutive medical insurance companies. If the report shows a healthy condition 5% discount on premium Giving. Similarly, a policyholder who walks 10,000 steps daily for 20 days per month is given an additional 2.5 per cent discount.

Discount For Women

Some Health Insurance Companies offer premium relief to women to promote women empowerment. This discount for women 5 to 10 percent.

Network Discount

If the insured gets treatment in a hospital which is involved in the network of the company, he would give a discount Have. Hospital and insurance company Mutual discounts Treatment is given. The cost of treatment due to this feature Comes low.

Zone Discount

Most of the companies have created three zones in the country namely ‘A’, ‘B’ and ‘C’.

Zone ‘A’

Zone ‘A’ includes Delhi/National Capital Region, Mumbai (which includes Navi Mumbai, Thane and Kalyan), Hyderabad and Secunderabad, Kolkata, Ahmedabad, Vadodara and Surat.

Zone ‘B’

Zone ‘B’ covers all areas not in Zone ‘A’ and ‘C’.

Zone ‘C’

Zone ‘C’ includes Goa, Punjab, Chandigarh, Chhattisgarh, Bihar, Jharkhand, Andaman and Nicobar, Arunachal Pradesh, Himachal Pradesh, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Orissa, Sikkim, Tripura.

Zones ‘B’ and ‘C’ offer 20 to 30 per cent discount on premium. However, it is pertinent to note here that persons who have purchased a policy in a low premium zone have to pay a co-pay of 8 to 15 per cent if they are treated in a high premium zone.

Companies are active in promoting Mediclaim in India and that is why they offer different types of discounts. Also, insurance If the borrower also gets any facility They are willing to take the policy, which is ultimately in their own interest. A policy taken at a discount can be said to be useful both economically and practically.

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