Health Insurance Policy Co-Payment & Deductibles For Lower Premiums

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This video will discuss about deductibles and co-payment features in health insurance programs Apart from protection from high medical penalties, beings buy health insurance plans to get tax deductions under Slouse 80 D Hospitalisation expenses can create havoc on the family finances Health insurance premium depends on the age of the person In case of a family floater health insurance plan, any of the members can take the sum insured accessible, say, of Rs 5 lakh The premium is charged on the basis of the age of the eldest member of the family There are age circles for health insurance premiums like 20 -2 5 years, 25 -3 0 years and so on. As you traverse senility straps, the premiums go up The premium increases at a greater rate in the bands above age 45 To abbreviate the premium and have adequate coverage you have the options of co-payment and deductibles You can opt for a deductible which meant that from a claim amount the deductible sum opted for by the insured person is subtracted Due to this your premium will be lesser compared to the premium without a deductible Some insurance companies too call it as co-pay Depending on the company, it is on the basis of a percentage of the protected amount and some times it is on the basis of an amount of money In India, it is fixed amount for deductible that is prevalent Should one opt for a deductible? Here,. one has to see what is the health condition If health provision is fine of all the family members in a floater health insurance project, one can go for a deductible.

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