How To Make Health Insurance Premium Payment Online?

A health insurance policy is a contract between the insurer and the policyholder abiding to which the insurer compensates for the medical expenses of the policyholder. Such plans provide financial aid to the customers for medical emergencies and cover expenditures like hospitalization costs, inpatient costs, domiciliary expenses, medication costs, ambulance charges, room rents, etc. Along with the regular plans, the customers get a choice of including additional covers to enhance the coverage of the existing health insurance policy. Different types of plans are offered by various health insurance providers to give a wide range of choice to the customers.

With the growth in the technology sector, various processes like buying, renewal, and comparing of health insurance policies can be done online with a good internet connection. With the help of just a few clicks the policyholders can get anything done with respect to their health insurance plans without much effort and with efficiency. You can compare the plans online by surfing for the various plans that are available in the market and comparing their features. Before investing in a health insurance plan you must analyze your choices to get a suitable health insurance policy for yourself and your loved ones.

About Health Insurance Premium Payments

A health insurance premium payment is a predetermined sum of amount paid by the policyholders to avail the benefits and features of their purchased health insurance policy. It can be paid monthly, quarterly, half-yearly, or annually, depending on the insurer and the policyholder. The amount of premium is influenced by certain factors like applicants age, plan chosen, sum assured, co-payment clause, etc. You can alter the premium rate of your health insurance policy based on your financial budget using a health insurance premium calculator which is available online for the ease of the customers. The premium payments can be made online using the internet quickly and without any hassles.

How To Make Online Premium Payments For Health Insurance Plans?

Payments for premiums of a health insurance policy can be made online using the secure transaction gateways over the internet. Online payments provide the customers with a range of payment modes to choose from and it takes much less time when compared to the traditional offline method. For buying or renewal of the health insurance policies you can make the payments online. It is a secure, quick, and hassle free way of making payments. It saves the customers time as all it requires is a good internet connection to make the payments smoothly.

Must Read: Saving on Health Insurance Premiums

Steps Involved In Making Online Premium Payments of Health Insurance Plans

Following are the steps that are involved in making online premium payments for a health insurance policy by the policyholder:

• Visit the official website of your health insurance provider.
• Navigate the renewal section at the official website of the insurer.
• Enter the required details like policy number( in case of renewal), mobile number, email ID, etc. at the online interface of the insurer.
• Review the policy premium and other details. Make the payment using the secured transaction gateway. You can use any payment mode available at the website.

Things To Consider While Paying The Premium Online For A Health Insurance Policy

Let us look at some of the key points that should be considered while making an online payment for the premiums of the health insurance policy:

• You must keep a track of the premium payment due dates, as the payments must be made on time.
• You can avail tax deduction benefits under Section 80D of the Income Tax Act being the taxpayers.
• You must carefully read the policy terms and conditions to know about the exclusions, claim instructions, etc.
• To ensure a smooth claim settlement process in the future, you must disclose any new illness to the health insurance provider.

Conclusion

The premium payments should be made on time without any delay and you can adjust the premium rates according to your financial budget. The premium rates are determined by various factors like age, medical history, sum assured, plan chosen, etc.

Also Read: A Guide For Paying Health Insurance Premiums In Instalments

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.