Policybazaar finds 13% of customers use health EMIs, average ₹17,500
More people are ditching big, one-time health insurance payments and choosing EMIs instead.
Policybazaar said 13% of its customers now pay their premiums monthly or quarterly, with the average annual premium being about ₹17,500.
This shift highlights a growing preference for flexibility when it comes to managing insurance costs.
Installments make multi-year health policies affordable
Paying in installments makes multi-year health policies more affordable: think paying ₹1,000 a month instead of shelling out ₹36,000 over the policy term.
Plus, there are no extra fees if you stick to equal payments.
But before jumping in, it's smart to read the fine print: missing payments can have consequences and your premium might change at renewal time.
As Rohan Goel, Business Head, Health Insurance, Policybazaar, puts it, "Health insurance is gradually moving beyond the traditional annual purchase-and-renewal cycle toward a more flexible, long-term protection model," just make sure you know what you're signing up for!