Finance

Fulfil the Need of Rising Healthcare Costs with a Medical Loan

3:46 AM Rajesh singh 3 Comments



In the face of rising health care charges and widespread proliferation of lifestyle diseases, managing your medical expenses can be a real challenge. Learn how you can tackle a medical contingency with medical loans and what its benefits are.

Rising cost of healthcare facilities combined with the widespread proliferation of lifestyle diseases has the ability to disrupt your financial budget. You might be secured against medical contingencies by having a health insurance policy, but this is only partially true, as not all afflictions are covered by a single policy. Consider Medical Loans to finance your healthcare expenses when the policy is not enough.

Medical inflation in India is rising by 15% annually. Medical advances have improved the healthcare ecosystem and our life-span, but they have also contributed to the rise in medical costs. In the face of steep health insurance premiums and spiraling health care costs, managing health-related expenses can be challenging.

How to survive during a medical emergency?

Unfortunately, your health insurance policy may not cover all type of medical emergencies. To add to the muddle, the insurance claim is a time-consuming process involving meticulous paperwork and stringent verification process. This can often present itself as a barrier, especially when urgent liquid funds are the need of the hour.

This is where you can avail a personal loan for a medical emergency to tackle all your medical expenses without draining your savings. A personal loan can provide you with the requisite liquid funds to meet all your financial obligations including pre-treatment and post-treatment charges during a medical exigency.

Benefits of a medical loan

When you run out of your health cover and require emergency funds, you can easily apply for a medical loan to bail you out during the crisis. Here are the benefits of availing a medical emergency loan:

Instant approval: A medical loan takes no time for approval and you can find instant money disbursed in your bank account within minutes of your loan application. It ensures that you get the best possible treatment in time and money, or lack thereof never stands in your way of getting quality healthcare facilities.

Easy eligibility criteria: Lenders usually follow a lenient approach when it comes to medical loan eligibility. You can get timely access to emergency funds with the easy application process and minimum documents required for a medical loan. Since these are unsecured loans, you don’t have to worry about arranging collateral to avail funding for your medical treatment.

Flexible tenor: You can choose a convenient tenor for your medical loan and repay them according to your financial condition. With the Flexi Loan facility, you can borrow and repay as per your requirement. This enables you to get the best medical treatment possible without worrying about the funds.

Substantial loan amount: You can avail a personal loan up to Rs.25 lakh to meet all the financial requirements of your family, and not just the hospitalization expenses. It ensures you don’t have to take multiple loans for various financial obligations that you may incur during the course of your rehabilitation.

How to apply for a medical loan?

You can apply for an instant medical loan online by filling up the relevant form and uploading the required documents. Alternatively, you can also visit the nearest branch of the lender to inquire the process of applying for a medical loan and get your money disbursed in your bank account in no time.

With pre-approved offers on a gamut of loans from lenders like Bajaj Finserv, availing finances for tackling health care costs is easier than ever before. All you need to do is just share your few basic details and select your exclusive offer to avail attractive interest rates and higher loan amount.

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