Health is not always the same. Despite taking all the care, you never know when will you contract an infection, fall sick, harm yourself due to faulty food, or meet with a physical injury necessitating medical emergency. Unfortunately, people in India do not plan for medical expenses which can arise anytime. Though there are health insurance and employee healthcare plans, but to no advantage for a large majority of people who do not avail them either due to unawareness or being unprivileged. The result is that, people end up losing their hard earned savings, financial assets, and capital assets to meet the huge medical bills. After all, life and health comes first!
You can rescue yourself from the burden of killing medical bills with “Medical Loans” offered by a number of private institutions.
Benefits of medical loans in India:
- Approval for medical loans is quick and easy as compared to any other loan, which is much needed at the time of an emergency health condition.
- A good credit history qualifies you for the loan and no guarantor is needed which falls to the benefit of the person securing the loan.
- Minimal documentation is needed and a counsellor’s guidance is also provided to help you out with the right information.
- It’s a quick online procedure that does not require you to visit places and meet different people.
- You can select the tenure for repayment yourself.
- Maintain financial stability and retain your family assets at the time of crisis.
- Medical loans are available for a wide range of treatments.
Also, the loans are offered at 0% interest initially and the interest is charged only after a pre-specified period of time. This gives the patient quite a relief to recover, get stable, and plan the repayment with complete peace of mind. However, this clause varies from firm to firm.
Information you might need to provide to get a medical loan.
Different loan providers have different set of information requisites. A few common information details you need to fill in the digital or physical form are listed below. Related documents also need to be provided to support the information you give.
- Address with pin code and contact information
- Treatment type with estimated cost
- ID proof
- Financial details like Form 16
- Valid income document
- Recent bank statement
- Passport size photo
Most of the loan providers facilitate the users with online application to apply for the loan which takes only a few minutes to start the process. The applicant is contacted shortly through call, email or in person to carry forward the process. This helps the patient or patient’s representative to get the loan quickly and continue with the treatment, uninterrupted.
Further to patient’s advantage, the concept of pre-approved medical loan is also there for all those who remain positive and prepared for any future medical emergency.
Did you know about pre-approved medical loan?
The pre-approved medical loans prepare you for the uncertainties of health, requiring immediate expenses to be done. With this loan, you can avail treatment at the earliest in some specified hospitals at a number of locations, as per the clause of the loan provider. Without incurring any unexpected financial dent, you can choose to repay the loan in easy EMIs.
Know more about medical loans by getting in touch with us at [email protected]
There is a lot done recently in the healthcare segment to enrich patients’ experience of accessing and availing healthcare services. The introduction of medical loan in India is one of those steps which will allow patients to seek the best treatment and care without bothering about momentary financial constraints.