This weekend sees the release of Rajkumar Hirani’s ‘Sanju’. As part of the movie’s promotion, a teaser was released depicting Sanjay Dutt’s Munnabhai MBBS visuals. Only this time it was Ranbir Kapoor re-enacting it.
Munnabhai MBBS not just entertained us, but gave us different outlook about medical emergencies. Well, we are not Munnabhai, but we at Loan Singh, would love to give each one of you a ‘Jaadu Ki Jhappi’ when in dire straits.
Medical Loan in India
Every millennial feels this about life – ‘Carrom ramwanu, juice peevanu, majja ni life’. But, that’s not true. A work hard, party harder lifestyle might seem full of bliss, but a sudden health scare can knock your carefree attitude into oblivion. We all are working so hard in our professional lives trying to reach new heights in our career.
We are working non-stop, looking at different opportunities in life where we can excel and do our best. We are engrossed in so much that is happening in our lives, that we turn a blind eye towards health – both ours and that of our loved ones.
Many of us are salaried and have never given a serious thought to medical expenses or an emergency fund. We know life is unpredictable, there are highs and lows. High is when we see our career and personal life get a green day, and low is when we are struck with ailment or an accident that hampers our chances of reaching our life’s goals.
A financial cocoon is therefore needed in order to help us get out of tricky medical emergency situations. A medical loan falls under the category of a personal loan. They can be availed for obvious medical contingencies such as health scares, medical needs, surgery procedures, therapy or any other grave health concerns.
Being an unsecured type of loan makes a medical loan apt for emergency situations. Not everyone can afford a really solid health insurance plan which will protect you from all possible medical uncertainties. Medical expenses may include anything from medical prescription bills to hospitalization bills.
Medical Loan at Loan Singh
The unsecured aspect of a medical loan in itself makes it a potent financial solution in dire straits. Suppose you remove the offline paperwork, delayed verification, repeated trips to the bank and delayed approval, from the medical loan availing process.
And then you turn the process online, with only 3 documents (to be uploaded), an approximately 10-minute application process and doing all this from the confines of home. These features, my friends, make an online medical loan even faster to avail.
An online medical personal loan is a fantastic option during times of medical duress. Sometimes, your savings might not cover an expensive medical procedure or a prolonged treatment. You might sometimes need to supplement your emergency fund with a shot of cash from other sources.
You might sell your hard-earned property or break some investments, and if all this does not work, then you might think about applying for an online medical personal loan. It is true that a number of traditional lending institutions provide medical loans. But, isn’t an emergency medical loan synonymous with quick, instant and less paperwork?
The doctors might need you to pay the cash up-front or pay each day as the treatment goes. In such cases, applying for a medical loan through manual applications and waiting for a long overdue approval makes no sense.
In India, health insurance is definitely popular, compared to an online medical loan. This is simply because we have fit this point inside our mind, that a medical insurance is actually cheaper, but that is not the case. A medical loan can be availed and then paid to a doctor/medical institution upfront. This obviously makes a medical loan scalable for a number of health ailments.
So, what’s the best source of emergency medical funds during accidents? How can you pay the doctor’s fee towards lengthy treatment? How to apply for an instant medical loan? Are there any online medical loan providers in India? The answer to these questions is…Loan Singh.
Medical Loan Eligibility
The eligibility criteria for an online medical loan with Loan Singh are:
- Salaried (receiving a monthly salary directly into your bank account)
- Indian and above 21 years of age
- A credit-worthy repayment history
- No collateral needed
Benefits of Online Medical Loan
The benefits of applying for an online medical personal loan are the same as that of applying for an unsecured personal loan online. And because you can apply for it online, you have the freedom for applying for it from the confines of your home, hospital lobby, outside the doctor’s consultation room or the operation theatre. Its benefits include:
- A medical loan is affordable
- You get an instant loan pre-approval
- There is no security deposit
- There is no collateral involved
- You pay easy EMI repayments
- The application process is fully online
Online Medical Loan Over Medical Insurance
A medical loan is easily the speedier of the two, in terms of application and in terms of disbursement. Some more benefits of medical loan over medical insurance are:
- Quick Approval
You don’t have to search for the insurance agent’s number on your phone or travel to their respective offices to start with the insurance paperwork. You simply apply for an online medical personal loan from Loan Singh’s digital lending platform. You can do all this and get the approval within minutes if all goes well that is.
Another advantage that a personal loan holds over medical insurance is the coverage. Majority of insurances don’t cover sexually transmitted diseases such as AIDS or critical illnesses such as brain tumor or leukemia. An online medical personal loan can cover almost any sort of medical expenses.
- Lengthy Disbursement Period
Health insurances normally include longer wait periods for certain ailments. A medical personal loan online however, can be availed off quickly and used for medical expenses. No waiting period is involved with a personal loan online.
- Financials Only
An online medical loan can be availed irrespective of the applicant’s current medical condition, age, or health history.