5 Reasons Why Flexi Health Insurance is Perfect for Millennials

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Written By Berry Mathew

As a millennial, you’re probably familiar with the importance of maintaining good health. However, finding the right health insurance policy can be a challenge, especially if you’re on a tight budget. That’s where Flexi Health Insurance comes in. Also known as flexible health insurance, it is a type of health insurance plan that offers the policyholder the flexibility to customise their coverage based on their individual needs. 

With rising healthcare costs, it’s crucial for millennials to have health insurance that fits their budget, lifestyle, and needs. Here are five reasons why Flexi Health Insurance is perfect for millennials, who are well advised not to neglect health insurance until later:

Flexi Health Insurance plan allows the policyholders to tailor their coverage to fit their needs. This means that the millennials can choose the amount of coverage they need for hospitalisation, outpatient treatment, diagnostic tests, and more. This ensures that they are not paying for coverage they do not need, while still having the option to add coverage for services that are important to them. For example, if a millennial doesn’t have any pre-existing conditions, they may choose to exclude coverage for such conditions to save on premiums. On the other hand, those who have a history of allergies or chronic conditions may choose to add coverage for these conditions. They can also choose between the add-ons available for the ones they require.

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  • Affordable premiums

Most millennials are just starting their careers and have limited disposable income. Flexi Health Insurance plans are designed to be affordable, making them desirable to millenials to secure their health without breaking the bank. These plans allow them to choose the coverage amount, deductible, and other features based on their budget. Because of this, they offer lower premiums compared to traditional health insurance policies. 

  • Wide Network

Millennials tend to be more mobile, often moving from one city to another for work or personal reasons. Flexi Health Insurance plans are portable, therefore allowing the policyholders to take their coverage with them wherever they go. These plans typically offer coverage for a wide range of healthcare providers. This ensures that they have access to healthcare no matter where life takes them. 

This flexibility is ideal for those millennials as well who value freedom and want to have the option to choose their healthcare providers based on their preferences. They can choose any hospital or doctor that accepts their insurance, giving them more control over their healthcare.

  • Cashless Treatment Facilities

Flexi Health Insurance plans typically offer cashless hospitalisation services. This means that the insured doesn’t have to worry about paying out of pocket for medical expenses while they are in the middle of a medical emergency. They can simply visit a network hospital and receive treatment without any hassle.

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  • Policy Terms

There are a number of benefits of the Flexi Health Insurance policy offered by Chola MS Health Insurance which makes it a perfect choice for millennials –  

  • Such a policy comes with the option of sum insured restoration for unrelated claims. This means that if due to any prior claim, the insured sum has replenished or is inadequate, the policy will provide a complete sum restoration for any unrelated claims. 
  • There is also a recharge benefit available once a year for any related claims. 
  • Since millennials don’t like to bind themselves to contracts that are long-term, this policy comes with a tenure of 1, 2, or 3 years with a renewal option. If the policyholder renews without any interruption with Chola Health Insurance, they receive a cumulative bonus worth up to 50% of the amount covered for each year they go without filing a claim. 
  • It offers various add-ons which might prove to be beneficial –
    • If a policyholder with a sum insured of Rs. 3 lakhs or above has to be hospitalised due to a road traffic accident, the basic sum insured will be increased by 25% up to Rs. 3 lakhs.
    • It covers a family member’s travel costs if the insured is admitted to a hospital in another city due to a life-threatening medical emergency.
    • It also covers the cost of getting a second medical opinion up to an amount of Rs. 25,000.
  • Under Section 80D of the Income Tax Act, the policyholders can claim a tax benefit. This amount will depend on your premium amount of the Flexi Health Insurance policy. 

The world of insurance can be overwhelming, especially for millennials who may not have a lot of experience with insurance policies. There is always a fear of spending more than needed but still not getting the desired benefits. By choosing a Flexi Health Insurance plan from Chola MS Health Insurance, they can secure their health and financial well-being while also maintaining their preferred lifestyle. From cost-effectiveness to customisable coverage, the policy comes with a range of benefits that perfectly suit the requirements of the millennials. Visit the Chola MS Health Insurance website to know more about the Flexi Health Insurance plan they offer.