Even though the Indian Government in its Union Budget 2020-21 has announced several initiatives to provide affordable healthcare to all, rising treatment costs across the country still remain a persistent issue. Even with Rs.69,000 crore allocated towards the healthcare sector, most families have to turn to private facilities to avail competent treatment. Consequently, they are handed hefty bills, paying which can deplete their savings significantly.
To counter this problem, financial institutions have introduced health EMI cards that can simplify medical bill payments to quite an extent. With an easy health card apply process, and several accompanying benefits, these make for one of the most comprehensive solutions to tackle a rising cost of seeking healthcare.
What does a health EMI card entail?
The most pressing problem when it comes to availing treatment from private facilities is the bill that accompanies it. Furthermore, some procedures are not covered under a health insurance policy, which makes it all the more difficult to bear these expenses from one’s pocket.
In this scenario, one can choose a health card to overcome this hurdle. They need to complete a simple health card apply process to avail one. By doing so, they can convert their medical bills into EMIs that can be paid over a tenor of their choosing. Furthermore, this card can be used in a plethora of medical facilities, including pharmacies, hospitals, diagnostic centres, and the likes, to avail all-round benefits.
Who can opt for a health EMI card?
This card comes with extremely simple eligibility criteria, which helps to increase its accessibility. For example, the Bajaj Finserv Health EMI Network Card can be availed by any of the NBFC’s existing customers, through their website.
Individuals who are not registered with the financial institution can avail the card from any of its partner medical facilities like a hospital or clinic. In this case, however, they will have to complete formalities like KYC registration and submit the NACH mandate.
What are the benefits offered by this health EMI card?
Before one decides to undertake the health card apply process, he/she should be aware of its complete list of features and benefits –
- An extensive coverage
Perhaps the most attractive benefit offered by this health EMI card is the extensive list of treatment costs it covers. Users can easily convert the following treatment expenses, few of which are not covered under health insurance policies, into EMIs for their convenience of payment.
- Diagnostic care
- Various surgery costs, including cardiac, general, bariatric, vascular, etc.
- Oncology treatment
- Orthopaedics treatment
- Pulmonology
- IVF treatments and maternity care
- Cosmetic treatments and plastic surgery
- Dental care
- Slimming treatment, etc.
- A high pre-approved limit
Such health EMI cards are available with a high pre-approved limit of up to Rs.4 lakh, which can be utilised to cover costs of any of the treatments included in the coverage list. Furthermore, this high pre-approved limit can be availed at an extremely affordable price.
- Instant activation
This health card comes with the facility of instant activation on application, which allows users to avail its benefits without delay. This feature is especially beneficial if one needs to convert their medical bill into EMIs on an emergency basis.
- Avail pan-India benefits
The benefits of this card are available in every state across the country. Irrespective of the state/city the card is availed in, one can swipe it at any of the medical facilities in any city in India and convert his/her bills into EMIs.
- Coverage for all family members
The benefits of this health EMI card are extended towards the cardholder’s entire family. One can purchase this card and enjoy its benefits for his/her entire family, including spouse, children, parents and siblings.
- Flexible repayment tenor
This health EMI card comes with a flexible repayment tenor, ranging up to 24 months. Cardholders can choose the tenor as per their convenience and make the EMI payments without hassle.
- Hassle-free application process
The health card apply process is extremely simple and can be carried out online. Further, it does not require any documentation, thus making it accessible to all.
Application process for the Health EMI Card
To apply for the health card from Bajaj Finserv, one needs to complete the application process given below.
- Visit the official website of the financial institution and navigate to the page for the product.
- Click on the tab marked “Get it now”.
- Verify credentials with your registered mobile number.
- Pay the card’s purchase fee.
- The digital card will be approved and activated instantly.
Nonetheless, as mentioned previously, one should note that this application process is applicable only for existing customers with the financial institution.
Thus, by following the simple steps mentioned above, individuals can easily avail this health EMI card and prevent utilising their savings for footing medical bills. Given the rising medical inflation rate, this is one of the most useful tools one can have to fulfil their healthcare requirements efficiently.
