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.

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      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 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 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.

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

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      *We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881. Product information is authentic and solely based on the information received from the Insurer. Policybazaar is acting only as a facilitator and claims settlement shall be at the sole discretion of the Insurer. As per the Insurance guidelines, you are allowed to cancel the policy with-in 15 days from the date of Issuance of policy. For more details, please read the Plan Brochure carefully or talk to our advisor at the time of purchase.

      *All the health insurance plans cover hospitalization expenses including COVID-19 treatment cover up to the specified limits. You can also buy specific COVID-19 health insurance policies such as Corona Kavach Policy and Corona Rakshak policy.

      **All savings and online discounts are provided by insurers as per IRDAI approved insurance plans. #Tax Benefits are subject to changes in tax laws. GST Exemptions depend on fulfilment of qualification criteria and submission of relevant documents.

      *₹1748/month is the starting price for a 1 crore health insurance for an 18-year-old male, with no pre-existing diseases. Discount on renewal premium is subject to the number of wellness points earned in the health insurance policy. For more details about the plans, please read the sale brochure carefully to get upto 100% discount on renewal premium.

      *₹400/month is the starting price for ₹ 5 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹541/month is the starting price for ₹ 10 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹762/month is the starting price for ₹ 1 Crore Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹243/month(₹ 8/day) is the starting price for a 5 lakh health insurance for a 20-year-old male, non-smoker, living in Bengaluru with no pre-existing diseases

      *₹2020/month is the starting price for ₹ 1 Cr Health insurance for a 50 year old male & 50 years old female, living in Bangalore with no pre-existing diseases rounded off to nearest 10.

      *₹390/month (₹13 per day) is starting price for 1 cr. Health insurance for 25 years old male, with pre-existing diseases, residing from tier 1 city rounded off to the nearest 10.

      *No medical tests are required unless requested by the insurer’s underwriter. In-case of pre-existing diseases relevant medical proof would be required as per the terms and condition of the policy opted.

      *The values taken for effective cost calculation are indicative values and may change as per the selected plan.

      *Coverage upto double the amount of Sum Insured is available on certain covers for a minimum plan of Rs. 5 Lakh on the first claim only to an individual of upto 45 years of age with no pre-existing diseases. The benefit is available with or without extra cost depending on the plan chosen.

      *Coverage of pre-existing diseases is provided by insurer as per their underwriting policy.

      *The scope of coverage may vary from plan to plan.

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