Arrange funds in medical emergency?

There always comes a time when no matter how well you plan and save for the future, an unexpected expenditure shows up at your doorstep. Emergency expenses such as a major medical bill can put a significant financial burden on you and your family. However, there are ways through which you can address unexpected costs and turn them into something less problematic. First thing is to start saving as early as possible. Get into the habit of making regular deposits into your savings account. Whether it is bi-weekly, weekly or monthly, create a schedule and stick to it. Next, you can make use of a credit card. Apply ICICI Credit cards function on a deferred payment basis which means you get to use your card now and pay for your expenses later.

The money used does not go out of your account, thus not denting your bank balance every time you swipe. In case of any medical emergency, you also have the option to apply for a personal loan. Personal loans are unsecured loans which means you are not required to pledge any collateral or security to avail it. You also have the flexibility to choose a tenure which suits you best. Lastly, you can choose EPF. It acts as a saving tool for employees. You can withdraw total corpus or six times the monthly salary (whichever is lower) from the provident fund for the medical treatment purpose. Hence, in case any medical emergency arises, you can choose from the above-mentioned ways. These are the best ways to meet any unfortunate circumstances and get you out of trouble.

ALSO READ:- How to arrange funds in medical emergency?