6. Choose A Floater Policy

"A family floater cover usually ensures coverage for a family of four members (maximum) consisting of self, spouse, dependent children and dependant parents under a single premium. The sum insured will be also available jointly for all the insured persons of the family covered in this single policy. This will help you save money on the premium," says Bimbhet.

7. Cumulative Bonus

Make sure that you renew your insurance policy when required. If you ensure timely renewal you can get an extra sum insured by paying the same premium. From this you will get more cover and at the same time can save a lot of money.

8. Don’t Include Your Parents In Your Policy

Usually when you take a family insurance, the premium will be calculated depending on the age of the eldest person in the family. In case if you include your parents under the same insurance policy, you might be paying higher premiums than usual. To avoid this, make a separate insurance policy for your parents. Through this you can save a lot of money.

9. Quit Bad Habits

You can save a lot of money on healthcare expenses or health insurance, by just quitting your bad habits and becoming healthier. Losing weight and quit smoking can help you reduce your doctor’s visits.

Also Read:

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