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Top Differences Between Health Insurance on EMI and Monthly Subscriptions

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Good health is the biggest asset that you can possess today. You can achieve anything you want with a sound body and mind. It may not be obvious because many people take their health for granted and regret it later. Even the best health insurance policy can only cover medical expenses after you fall sick. But maintaining good health is solely your responsibility.

Life can take unexpected turns. Despite your best efforts to stay healthy, you can still fall seriously ill for reasons beyond your control. The matter worsens if you are hospitalized for surgery and advanced medical care. A few days’ stay can set you back by several lakhs. You may end up spending your life’s savings in a short period. The only recourse to avert this situation is a comprehensive health insurance plan that can protect you and your family from financial worries.

Prioritizing Health Insurance at any Cost

Although people are now aware of the benefits of getting health coverage, many ignore or put it off until it’s too late. The primary reason appears to be the cost. Many families find the premiums unaffordable and prefer to avoid health insurance not by choice but by compulsion. Their earnings are just sufficient to cover their basic expenses.

But a sudden medical emergency can devastate a family with no savings and insurance coverage. Having no health insurance in India is not a risk worth taking as it is a matter of life and death. So what is the way out of this mire for people who want to protect their families from such adverse situations?

Buy Health Insurance on EMI and Monthly Subscriptions

With the primary objective of making health insurance more affordable to the people, the IRDA has recommended that insurers offer flexible premium payment options to policyholders.

Paying a lump sum annual premium may be difficult for many people, such as students, senior citizens, and people working in the unorganized sector. But thanks to the EMI option, they can buy a mediclaim by paying the premium in monthly, quarterly, and half-yearly instalments.

Since the onset of the monthly premium payments, a few innovative health insurance plans in India also offer a monthly subscription model. It is similar to an OTT subscription fee, where you pay for a specific month and watch the content for that month. This enables the policyholders to check out the insurer’s services before they make a significant financial commitment.

Key Benefits of Paying Monthly Premiums

Paying monthly premiums offers numerous advantages to policyholders:

  • Ease & Convenience: Paying a small amount every month is easy and affordable to many people as compared to paying a huge amount at one go
  • Lower Premiums: When premiums are affordable, more people opt for insurance coverage. This also reduces the premium for individual policyholders who can easily buy health insurance online.
  • Higher Insurance Penetration: Students, senior citizens, the rural populace, and people in low-income groups can now get access to health insurance schemes
  • Higher Insurance Coverage: Existing policyholders who want to enhance the sum insured amount can easily afford to do it with the monthly premium option
  • Avail Tax Benefits: You can avail of income tax benefits under section 80D and claim deductions for the monthly premiums, also

Key Differences Between the EMI & Monthly Subscription Modes

  1. Regular health insurance companies offer Equated Monthly Installments (EMI). But monthly subscription plans are offered by a platform that has designed customized health care plans for its registered members. Traditional online health insurance schemes generally provide the EMI option.
  2. When you pay premiums through EMIs, you get a standard mediclaim policy that covers only hospitalization and related expenses. But a health platform that offers a monthly subscription provides other services like doctor consultations, annual checkups, fitness & nutrition programs, mental counselling, etc., along with insurance coverage.
  3. EMIs are for mediclaim policies that are general; a monthly subscription on a health platform can be used to get plans that are personalized to the needs of individual members. The platform also partners with other service providers.
  4. Monthly subscription plans typically cost lower than market rates and also provide various other health, fitness & wellness services.
  5. Various features of a monthly subscription plan can be utilized even when you are fit & healthy. But a regular mediclaim policy reimburses the cost of your medical treatment in a hospital.

Health insurance in India has seen a paradigm shift providing an array of choices to customers. Although the EMI and the monthly subscription plan look similar to a customer, there are a few operational differences between the two.

If you want insurance protection, you can choose a mediclaim policy with an EMI option. But if you want customized plans with a host of related services, you can sign up for the monthly subscription plan on a health platform. Both are registered with the IRDA and, therefore, 100% secure.


  • Do not compromise on the amount of insurance coverage in a bid to lower the premium. The policy should sufficiently address your needs & objectives.
  • Carefully read the policy document to know the terms, conditions, inclusions & exclusions.
  • Check the reviews online and seek feedback in the market before signing up for an insurance scheme.


Changing lifestyle patterns and rising medical treatment costs have severely pressured the country’s healthcare system. Health insurance is no longer a luxury but a basic necessity to protect families from dire situations. With flexible EMI & monthly subscription insurance plans, you can get the best health insurance policy without much financial burden. A heavy premium is no longer an excuse to avoid health insurance. Be it a student working part-time, a young professional who has just started working, a farmer in a village, or a senior citizen with limited income, the monthly premium payment option is indeed a lifesaver!

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