Monthly Health Insurance Plans in India

While health insurance plans in India are offered annually, people find it hard to pay the whole premium in one go. To overcome this, health insurers have also introduced monthly health insurance plans in India, offering more financial flexibility and affordability to the policyholders. Read on to learn more.

Read More

Policybazaar exclusive benefits
  • 30 minutes claim support*(In 120+ cities)
  • Relationship manager For every customer
  • 24*7 claims assistance In 30 mins. guaranteed*
  • Instant policy issuance No medical tests*

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Tax benefit is subject to changes in tax laws. Standard T&C Apply

Back
Find affordable plans with up to 25% Discount**
  • 1
  • 2
  • 3
  • 4

Who would you like to insure?

  • Previous step
    Continue
    By clicking on “Continue”, you agree to our Privacy Policy and Terms of use
    Previous step
    Continue

      Popular Cities

      Previous step
      Continue
      Previous step
      Continue

      Do you have an existing illness or medical history?

      This helps us find plans that cover your condition and avoid claim rejection

      Get updates on WhatsApp

      Previous step

      When did you recover from Covid-19?

      Some plans are available only after a certain time

      Previous step
      Advantages of
      entering a valid number
      valid-mobile-number
      You save time, money and effort,
      Our experts will help you choose the right plan in less than 20 minutes & save you upto 80% on your premium

      Benefits of Opting Monthly Health Insurance Plans

      Below mentioned are some benefits of opting for monthly health insurance plans:

      1. Flexibility in Payment

        Monthly health insurance plans provide flexibility to those who may not be able to commit to an annual premium payment. By paying the premium monthly, individuals and families can better manage their finances and won’t be burdened to pay the entire premium in one go.

      2. Convenience

        Monthly premium payment eliminates the need for arranging a higher amount of money to pay the whole premium in one go. This gives a huge relief to a large section of society, particularly those who may face financial constraints. Such people may prefer to pay for their insurance policies monthly, which is more convenient.

      3. Continuous Coverage

        Opting for monthly health insurance plans ensures continuous coverage and ease of renewals. With annual payments, people may face the risk of missing their renewal dates, leading to a lapse in coverage. However, with monthly plans, policyholders can ensure their coverage remains uninterrupted, as premiums are automatically deducted every month. Moreover, they also get monthly reminders to pay the following month’s installment, making it difficult to miss the payment.

      4. Peace of Mind

        Monthly health insurance plans also offer peace of mind to people by allowing them to pay their insurance premiums in monthly installments and not in a lump sum. They also feel a sense of satisfaction that all of their savings are not being drained in paying the premium.

      How Does a Monthly Health Insurance Plan Work?

      Monthly health insurance plans divide the annual premium amount of a mediclaim policy into 12 equated monthly installments or EMIs. As a result, the policyholder has to pay the yearly premium in EMIs instead of a lump sum.

      For instance, if the yearly premium of an individual health plan is Rs 35,000, the policyholder will have to pay an EMI of Rs 2,916 (i.e. 35,000/12) for 12 months. As soon as the monthly premium or EMI is paid, the policyholder will get the receipts for the payment made.

      Grace Period for Monthly Health Insurance Plans

      If a policyholder is unable to pay a monthly premium installment by the due date, a 15 days grace period will be offered. All health insurance providers offer a grace period to pay the monthly premium. If the policyholder pays the premium within this grace period, they can get the accrued benefits; otherwise, their health policy will lapse.

      You may also read: Paying Health Insurance Premium in Instalments is Now Possible

      How to Buy a Monthly Health Insurance Plan in India?

      Here is how you can buy a monthly health insurance plan online from Policybazaar.com:

      • Click on the "Health Insurance" tab on the homepage
      • Enter your name, gender, age and contact number
      • Choose your city of residence
      • Provide details of any pre-existing health condition
      • You will now be able to see health insurance plans with a monthly payment option
      • Compare and choose a plan that suits your budget
      • Pay the premium via online payment modes
      • Your monthly health insurance plan will be issued in just 2 minutes.

      Wrapping Up!

      Monthly health insurance plans in India offer a flexible and convenient option to manage healthcare expenses effectively. By selecting a suitable monthly health plan, people can financially safeguard their health and well-being in a more accessible manner. However, it is also essential to carefully review the policy terms and conditions, coverage details, and customer reviews before making a final decision.

      Search
      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

      Health insurance articles

      Recent Articles
      Popular Articles
      Surgeries Covered by Magma HDI Health Insurance Plans

      18 Apr 2024

      Magma HDI General Insurance Company offers a spectrum of
      Read more
      Surgeries Covered by Raheja QBE Health Insurance Plans

      17 Apr 2024

      Raheja QBE General Insurance Company offers a diverse range of
      Read more
      Surgeries Covered by Aditya Birla Health Insurance Plans

      16 Apr 2024

      Aditya Birla Health Insurance Company offers a range of
      Read more
      Surgeries Covered by Cholamandalam Health Insurance Plans

      16 Apr 2024

      Cholamandalam MS General Insurance Company offers a range of
      Read more
      Surgeries Covered by Future Generali Health Insurance Plans

      16 Apr 2024

      Future Generali India Insurance Company offers comprehensive
      Read more
      Best Health Insurance Plans for Senior Citizens
      Senior citizens are the most prone to diseases. Considering the medical inflation in India, buying health insurance
      Read more
      Does Health Insurance Provide Coverage for LASIK Eye Surgery?
      A vast majority of the Indian population is suffering from vision problems. For some of them, LASIK eye surgery is
      Read more
      Zero Waiting Period in Health Insurance Plans
      Every medical insurance plan comes with a few terms & conditions, and the waiting period is one of them. A
      Read more
      How to Apply for Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY)?
      Ayushman Bharat Yojana is a flagship health insurance scheme launched by the Government of India to offer universal
      Read more
      10 Major Benefits of Ayushman Bharat Yojana
      Pradhan Mantri Jan Arogya Yojana (PM-JAY) is the second component under Ayushman Bharat Scheme. PM Narendra Modi
      Read more

      top
      Close
      Download the Policybazaar app
      to manage all your insurance needs.
      INSTALL