How to Pay Your Health Insurance Premium Online?

Technological advancements have made our lives easier and the insurance sector is no different. Today, you can not only compare different health insurance plans online but also buy them while sitting within the comforts of your home. In fact, paying the premium of your mediclaim policy online is as easy as buying chocolates. Let’s know about different ways to pay your health insurance premium online.

Read More

Get ₹5 Lac Health Insurance starts @ ₹200/month*
Tax Benefitup to Rs.75,000
Save up to 12.5%* on 2 Year Payment Plans
7 Lakh+ Happy Customers

*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

Get insured from the comfort of your home No medicals required
I am a

My name is

My number is

By clicking on ‘View Plans’ you, agreed to our Privacy Policy and Terms of use
Close
Back
I am a

My name is

My number is

Select Age

City Living in

    Popular Cities

    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

    What is your existing illness?

    Select all that apply

    When did you recover from Covid-19?

    Some plans are available only after a certain time

    Ways to Pay Your Health Insurance Premium Online

    There are multiple ways through which you can pay your health insurance premium online. However, the modes of payment may vary from one insurance provider to another. Take a look at the various online modes of health insurance premium payment:

    • Debit Cards – You can pay the premium by entering the details of your debit card along with the OTP received on your mobile phone.
    • Credit Cards – You can also use your credit card to pay the premium by entering the card details and the OTP received on your phone.
    • Internet Banking – You can transfer the premium amount to the insurance provider by logging on to your net banking account and entering the PIN.
    • UPI – You can pay the premium amount by entering your UPI id along with the PIN. 
    • Wallets - You can log in to your wallet online using your phone and by entering the OTP received on your phone to pay the premium amount.

    Steps to Buy Health Insurance and Pay Your Premium Online

    A health insurance policy can be purchased online on the website of the insurance company or insurance broker websites like Policybazaar.com. In both cases, you can pay the health insurance premium online. Take a look at the steps to buy a health insurance policy and pay the premium online:

    • Visit the official website of Policybazaar Insurance Broker Private Limited
    • Go to the ‘Insurance Products’ tab on the menu bar and select the type of health insurance you want to buy
    • You will be redirected to a page with a form on it. 
    • Enter your personal details like name, gender & mobile number and click on ‘View Plans’
    • Choose the family members to be insured and the age of the eldest member
    • Select the city where you live
    • Provide details of your medical history 
    • Health insurance plans from different insurance companies will be displayed
    • Compare different plans and choose the plan you wish to buy
    • Choose any add-ons that you wish to add to your policy and fill up your proposal form
    • Select the payment mode through which you wish to pay your premium online
    • Enter the required details and make the premium payment
    • Once the insurance provider has received the payment, they will issue your health insurance policy.

    Every health insurance policy is valid for a fixed period. The policyholder needs to renew the policy before the expiry date to ensure continued protection. The same steps can be followed to pay the renewal premium of your health policy.

    Things to Remember While Paying Your Health Insurance Premium Online

    Here are a few crucial things that you must keep in mind while paying your health insurance premium online:

    • Always buy health insurance online from a website that is registered with the IRDAI (Insurance Regulatory & Development Authority of India). All IRDAI-approved websites will have a license number at the bottom of the website.
    • Always enter your bank account or card details on a secured internet connection only. This way the chances of facing any fraud reduces.
    • If you need to renew your policy, make sure to pay the renewal premium to the insurance company before the policy expiry date. This will ensure that there is no gap in your policy coverage and you have medical coverage at all times.
    • The premium paid to buy or renew a health policy is eligible for tax deductions under Section 80D of the Income Tax Act. Thus, you can claim the premium by filing an income tax return.
    • Do not hide your medical history while buying or renewing your health insurance policy even if it increases your premium. If you do not disclose any pre-existing illness and your insurance company finds out about it later, your claim will be rejected and your policy may be canceled.
    • Make sure to read the policy document carefully before buying or renewing a medical insurance policy. Doing so will help you have a clear idea of the coverage, benefits and exclusions of the policy. Thus, you will get your desired coverage for the premium that you have paid.
    • You can also use a health insurance premium calculator online on Policybazaar.com to check the premium of different health plans before buying. This will help you compare different plans and choose the plan that best suits your needs.

    Summing It Up

    Buying or renewing a health insurance policy has become extremely easy online. All you need to do is choose the plan you want to purchase and pay the premium online to get the policy without stepping out of your home. Moreover, given the various modes of online payments, you can pay your premium online safely. Just remember the above-mentioned tips to have a hassle-free and seamless experience.

    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
    Health Insurance for Rural India

    24 Jun 2022

    Healthcare is expensive in India and is increasing with each...
    Read more
    Health Insurance for a Down Syndrome Child in India

    23 Jun 2022

    Down Syndrome is one of the most common genetic disorders in...
    Read more
    Income Tax Slab for Women: Guide to Exemptions and Rebates

    22 Jun 2022

    In India, every person who earns beyond a certain limit is liable...
    Read more
    Is Coconut Water Diabetic Friendly?

    22 Jun 2022

    Coconut water is an excellent beverage for people struggling with...
    Read more
    How Much Health Insurance Do You Need in India?

    15 Jun 2022

    Life is uncertain and anyone can get sick or injured at any time...
    Read more
    PMJAY Scheme: Ayushman Bharat Yojana Eligibility & Registration Online
    Prime Minister Shri Narendra Modi announced the launch of (PMJAY) Ayushman Bharat Yojana in his Independence...
    Read more
    Best Health Insurance Plans in India 2022
    Finding the best health insurance plan from so many different health insurance companies can get confusing for many...
    Read more
    Best Maternity Insurance Plans
    Maternity insurance offers comprehensive coverage for medical expenses incurred during pregnancy, including the cost...
    Read more
    How to apply for Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY)
    Ayushman Bharat health insurance is a flagship scheme launched by the Government of India, as per the...
    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