It’s true that the three essentials of living are clothes, food and shelter. But there is one more essential that we always forget to factor in, and that is our health. Without health the other essentials are of no use. Your health condition is judged on the basis of two factors – internal and external. When either of them gets affected, then enters the fifth and final essential of living i.e. money.
If you have lived your whole life believing that health is wealth then think again because wealth and health go hand in hand. To continue living a healthy life, wealth plays an equally important role. We are talking about medical emergencies where you have zero to little savings; finding avenues from where you can arrange money during such instances might not be feasible due to time constraints. That is where a medical loan comes into play.
What is a Medical Loan?
Medical loans come under the category of unsecured category of personal loans. A loan can be used for multiple emergency situations like operation, surgery, procedure, therapy and so on. It also covers expenses that are incurred for the treatment.
How to get a Medical Loan?
The procedure to apply for a medical loan is a standard one. You have to check for your eligibility and accordingly pick the plan that you wish to get. Following this you have to submit all your important documents, and the money then gets added to your account.
Can you apply for a Medical Loan online?
Gone are the days when getting an approval for a loan would take days. Now the whole process from applying, to getting the loan approved takes only about a few hours. Another advantage of applying online is that the step of submitting the required documents is reduced manifolds which otherwise would take days to get approved.
With apps like Healthpass, there is an added bonus of many other healthcare needs besides medical emergencies such as hospitals, doctors, diagnostic labs and pharmacies. You can pay through the app, online, that too with a variety of cashback options.
Is applying online for a Medical Loan better?
Although a medical loan in itself is a security cover that everyone should have, applying for it online does have a lot of benefits over the offline method.
- HIDDEN COSTS – Online application is a fully transparent method with no extra or hidden costs added in the process
- PROCESSING TIME – The online method processes your loan within a matter of hours in comparison to days of approval required in case of the offline method
- PAPERWORK – A quick digital application is way better than long paperwork, and this is what online application offers
- SUPPORT – Online support is available 24/7 and all your queries get answered immediately in case you’ve applied for an online loan
However unfortunate it is to come face to face with a medical emergency, it is always better to be prepared for such situations in advance. Getting a medical loan is the key to keeping your health secure, so be prepared, be informed and take care of your life along with your loved ones lives.