New Delhi: Medical Emergency Fund – India is witnessing an unprecedented second wave of Coronavirus as the number of daily Covid cases have been hovering around 3.5 lakh. At this crucial juncture, health or medical policy has become essential.
However, even if one has a health policy, having cash in hand is very crucial. Health Policy Companies often takes a stipulated time for approving cashless facilities at hospital or other medical facilities. Patients’ families are often asked by the hospital authority to make advance payment. Sometimes cash becomes essential in the hour of emergency. That’s why one should have provisions or make some arrangements to get cash in quick notice.
Here are some easy ways to get cash if there is any emergency.
Personal loan is provided banks both private and government. Obtaining a personal loan is one of the easiest things in banks these days. All you need to do is to visit a nearby branch of bank in which you have an account. Banks will provide you personal loan as per your eligibility.
You can use your bank credit cards to make any urgent payment at hospitals and nursing homes. You can opt for EMIs and repay the amount later to your respective banks.
You can opt for taking Gold loan in case there is emergency and you need cash badly. Gold jewellery can be mortgaged to take loan and fulfill the requirements. It generally takes a few hours to obtain Gold loan. One look for this avenue if he or she requires emergency cash.
Salaried class can withdraw loan from their Employees’ Provident Fund (EPF) on the ground of medical emergency. An employee is eligible to medical emergency loan for own, spouse, parents or children. One can withdraw employee’s share with interest or six times of monthly salary, whichever is lower.
You can also borrow emergency loan against insurance schemes, mutual funds, shares, and fixed deposits.
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