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How to purchase the cheapest health insurance

The exponential rise in healthcare rates has made it extremely difficult for the common man to afford good quality healthcare. Currently, an unexpected accident or illness is enough to wreck the financial stability of a family. Only a health insurance policy​ can safeguard you from the possibility of a financial catastrophe. Moreover, wouldn’t it be great if we could find a medical insurance policy that provides the right coverage at the cheapest rate? Follow the below mentioned list to buy the cheapest health insurance policy.

  • Opt for a Family floater policy: A family floater policy provides coverage for the entire family. The sum insured of the policy is shared between the family members. Think about it, have you ever used your entire sum insured yet? A family floater gives you an opportunity to utilize the entire sum insured as there are more chances of someone from your family falling sick in a particular year. Apart from utilizing the sum insured, you can even save a lot of money on buying individual policies.
  • Enhance your voluntary deductible:  A deductible is your contribution when there is a claim situation. In all, there are two types of deductibles, namely, mandatory deductible and voluntary deductible. Mandatory deductible is the compulsory pre-decided amount that you have to pay when there is a claim. A voluntary claim is the addition amount that you are willing to pay during a claim to reduce the premium amount and get cheap health insurance. The higher the voluntary deductible the lower the premium. Note that with voluntary deductible you would be taking the risk of paying extra in case of a claim.
  • Compare online:  Do a thorough research and compare policies online. This way you get to select on the features that suit your requirement and avoid the features that are excess. This will empower you to reduce the premium amount and find the cheapest insurance policy.
If you follow the above mentioned steps you can certainly finish your quest of purchasing the cheapest health insurance policy.