The healthcare industry is expanding rapidly, encompassing several elective treatments enhanced with technology. The expansion has exceeded the basics and included various wellness and cosmetic procedures. However, the rising inflation and the cost of such elective treatments make it impossible for many to consider undergoing such treatments. The rising rate of inflation in the healthcare industry acts as a hindrance to affordable private treatments.

This makes it imperative to make health insurance reasonable and within reach of people. The affordability of health insurance plans is a roadblock that keeps many from availing of a comprehensive health plan.

Further, it is equally important to note that traditional health insurance plans may not encompass elective and advanced treatment procedures, which incur huge costs. At the same time, falling into the trap of credit cards, loans, etc., to incur the costs of elective treatment is also not worthwhile. So, what is the solution?

No Cost EMIs (Equated Monthly Instalments) for Elective Healthcare

What is a No-Cost EMI, and how does it support incurring costs of your elective treatment procedures?

No-cost EMIs for paying healthcare premiums have evolved as a game-changer in recent times. These solutions offer health insurance on EMI and let you split the treatment cost of your hospitalization into monthly payments that you can afford easily. The no-cost EMIs serve as pioneering financial solutions offered by fintech platforms focusing on healthcare in collaboration with banks and healthcare companies.

Let’s take an example to understand this solution better. Let’s say you underwent a cosmetic procedure that incurred INR 1 lakh on the treatment. You may not be in a position to make the payment in one go. With no-cost EMIs, you can make payment of the charges through monthly EMIs of INR 9000, which makes it easily affordable for you. Thus, this new approach can make elective healthcare affordable, and at the same time, you are not required to make a huge payment upfront.

How Do No-Cost EMIs Work?

Let’s explore the possible ways the health insurance no-cost EMIs function. So, as discussed above, fintech healthcare platforms offer no-cost EMIs in collaboration with banks and health insurance companies. Hence, a part of the interest cost is shared by the healthcare provider, while the customer has to incur a small processing fee.

The fintech platform that lends the money assesses the creditworthiness of the customer availing of the cosmetic treatment and communicates the terms and conditions of the company to the customer. The health insurance on EMI process is paperless and quick and is done in compliance with the mechanism of digital banking.

How Do No-Cost EMIs Benefit Policyholders?

The No-cost EMI on health insurance solutions are popularly used in the electronics and travel sectors. The concept of making health insurance affordable is now emerging in the healthcare sector. Looking at the crucial role that health insurance plays, it is essential to make consumers aware of the benefits of health EMIs or installment healthcare options.

The No-Cost EMIs benefit everyone involved in the procedure. The lending company of the EMI pays the health insurance provider. Being a collaboration between traditional lenders, healthcare providers, etc., all these entities are working together towards transforming the landscape of the healthcare sector. The aim is to provide consumers easy access to healthcare, including preventive and elective care, without burning their pocket.

Popular Health Insurance Companies India, 2024

Know more about Health Insurance Companies


The no-cost EMIs will empower the healthcare system and support consumers in safeguarding their health and overall well-being. Once these no-cost EMI solutions emerge as popular financial solutions, they can transform the healthcare landscape completely. This will make treatment accessible as well as affordable to a wide section of society.
Health Insurance from PayBima

Related Articles

Other Health Insurance Products

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *