India spends only around 1.28% of its GDP on healthcare, which translates to just around Rs.1,657 per person in terms of per capita public expenditure. Add to that the rising cost of treatment and availing quality healthcare is often beyond the average individual’s ability.
It is one of the reasons why the population requires alternative financial tools, such as the Bajaj Finserv Digital Health EMI Network Card to tackle the various health problems in India. This card minimises any immediate financial liability that arises from medical emergencies, allowing users the time to arrange the funding without overburdening their finances.
How does a health card work?
Individuals availing a health card can utilise the pre-approved limit that this card brings to pay for their treatments, consultations or any other type of medical care. After paying for treatment with the health card, one can convert the entire bill into convenient EMIs payable over up to 24 months. This greatly increases the convenience of seeking even the costliest of therapies or treatments.
From various surgical procedures to homoeopathic remedies, your health card can finance every type of medical aid that you require. Some health problems in India can be highly expensive to treat, including cancers and others. In such cases, this Digital Health EMI Network Card can prove to be immensely helpful.
Additional benefits of a health card
While EMI conversion of medical expenses is one of the biggest advantages of owning such a card, it is not the only one. Here are some additional benefits that can reduce your financial and emotional stress, especially during a medical emergency.
- Flexibility of tenor
Besides paying your medical liabilities through instalments, you can also choose just how many instalments you want to pay. The card allows you to pick any tenor ranging between 3 and 24 months for such repayment. Even in cases where you need to repay a substantial sum, division of this amount into 24 equal parts should make meeting these liabilities much easier.
- Pan India coverage
Regardless of the city or location where you avail this card, its features and benefits remain valid throughout the country. When a cardholder suffers from a sudden medical emergency during a domestic trip, he/she can seek treatment at one of the network hospitals from its 5,500 partner facilities across 1,000+ cities in the country. Doing so would allow the user to utilise the Bajaj Finserv Digital Health EMI Network Card with ease.
- Protection for your entire family
You do not need to avail a health card in each family member’s name. Instead, an individual can opt for just one such card and ensure coverage for medical liabilities of the full family. The pre-approved limit of up to Rs.4 lakh on these financial tools is shared amongst the cardholder, his/her spouse, children and parents.
- Attractive cashbacks and offers
The financial institution offering the card also provides a range of discounts and rebates when using the card at certain select outlets. These discounts can reduce your expenses further, allowing you to avail quality treatment at just a portion of its original price. These offers are constantly refreshed, and so, one must stay updated of such cashbacks and discounts.
- Coverage for both conventional and alternative forms of remedies
Various individuals pursue different avenues of healthcare to avail treatment for diverse health problems in India. While some stick to traditional medicine, others may prefer homoeopathic remedies for their lack of side effects. Regardless of the type of treatment you seek, your health card will help you bear the costs from the same.
Additionally, you can use this card to pay for medical diagnosis, general consultations, therapies and even complicated surgeries. The consultations and treatments can thus be availed for more than 800 conditions via this card. Many of these are considered exclusions under a standard health insurance policy.
How can you apply for this card?
Existing members of Bajaj Finserv’s EMI network can apply for the health card online. These individuals can follow the steps mentioned below –
- Step 1: Navigate to the health card’s official page and click on ‘Get it now’.
- Step 2: Provide your registered mobile number and verify using OTP authentication.
- Step 3: Fill up the online application form.
- Step 4: Check your pre-approved limit on this card.
- Step 5: Complete joining fee payment procedure to receive approval.
Depending on the type of card you pick, your card may even be activated instantly. However, individuals who are not Bajaj Finserv EMI network members can also avail this card for the treatment of various health problems in India. To apply, they would need to visit one of the network outlets nearby and complete the application process.
These individuals would also need to submit certain documents during the application. They include –
- KYC documents
- NACH mandate or a cancelled cheque if IMPS service is temporarily down
Individuals should consider the other beneficial features of this health card as well, which ranges from a substantial sanctioned limit to its affordability. EMI network members can also look forward to a speedy approval process thanks to a zero-documentation approach.