Health Plans: Is It Wise To Opt For Monthly Payments?
THE INSURANCE TIMES|May 2024
Insurers have started promoting monthly and quarterly premium payment modes in an effort to make health plans affordable for all.
Health Plans: Is It Wise To Opt For Monthly Payments?

Besides, they are also offering zero cost EMI (equated monthly installment) options now. The idea seems to be appealing for many. Data obtained from insurance distributor Policybazaar shows that 33% of young salaried individuals (aged 26 to 35) prefer the monthly payment mode when purchasing such a policy for the first time. Interestingly, the trend is more pronounced in tier-III regions, where 44% of individuals have opted for monthly payments, compared to 31% in tier-2 cities and only 23% in metros.

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