While the out-of-pocket expenditure (OOPE) on healthcare by Indian households has seen a gradual reduction over the years, it still maintains a relatively high level compared to global standards. This elevated OOPE can push approximately 55 million Indian households into financial vulnerability on an annual basis.
Life is inherently uncertain, and even a minor surgical procedure can significantly erode your savings due to high OOPE. Although health insurance covers a portion of unforeseen medical expenses, it frequently proves insufficient to cover the full costs, particularly for non-essential procedures.
Moreover, health insurance policies typically come with limitations and exclusions based on your chosen plan. In such situations, a medical emergency financing solution becomes invaluable. It empowers you to manage various expenses, encompassing medical treatments, diagnostic tests, and prescribed medications, thus helping you bridge the gap left by OOPE.
Additionally, opting for a medical emergency loan provides the benefit of competitive interest rates, leading to substantial savings in terms of interest payments. These loans generally feature straightforward eligibility criteria, a swift application process, and the convenient direct transfer of funds to the healthcare facility of your choice.