Article

Why You Should Buy Health Insurance At Young Age?

07 Aug 2019 Sumit Kati

We often hear about a distant relative, who despite his age, suffers from no ailment. However with our hectic schedule and work lifestyle, the adage may not be applicable to the current generation. Although the life expectancy in India has increased, thus the diseases that affect the younger population has increased as well. In such a fast paced scenario, there is no better time to get your health insured.

Straight to the point
It is well known that with progressing age, the annual premium for health insurance increases accordingly. An older person, as compared to his younger counterpart, will have to pay more in order to get his/her health insured. The reason here is clear; as a person gets older, his or her chance of falling ill is higher, due to the weakening of his or her immune system. 

One never wishes to use his/her hard-earned money to pay the hospital bills. It is advisable that one gets a health insurance policy at an early age to make most of it and also avail various benefits. Here are a few reasons to make the right health decision before your next birthday. 

1) Best offers
A plan with Rs.10 lakh coverage would cost around Rs.10,000 at the age of 25. At the age of 35, the premium for the Rs.10 lakh coverage might be as high as Rs.14,000. As one grows old, the premium keeps increasing. So, book your policy at the lowest price possible. Also, you get discounts in premium or other benefits from the insurance company for leading a healthy lifestyle.

2) Health coverage
When compared to your company's health coverage, hospitalization for regular illness can cost you a lot more than you can imagine. The need for medical attention increases as you grow old. The need for insurance can not be overlooked with the increasing healthcare costs. 

3) Financial planning 
Accidents occur without any prior knowledge and it is the best to be well-equipped. Buying a health insurance ensures that you're prepared for any unprecedented occurrences. By paying your insurance premium, you can also save tax.

4) Wide-ranging deals
With a lower scope of pre-existing diseases at a young age, any illness that crops up later in your life might automatically be covered.  A wise decision of buying insurance at an early age means holistic and wide-ranging coverage. 

5) No waiting period
When you buy an insurance at an early age and you do not have a requirement for that, you have covered the waiting time. This means that you can avail the full benefits later when you are in dire need of the same for surgeries, treatments, etc.

Summing It Up
Many a times, health insurance companies offer a loyalty or bonus for people who continue with the policy, year after year. Depending on the cover, the health policy may pay not only for serious hospitalization or treatment, but also for an ambulance, medications, and other such non-hospital related things. It's also possible to customize your health insurance cover according to your family needs. In the end, the phrase stands true; make hay while the sun shines.

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Why You Should Buy Health Insurance At Young Age?

07 Aug 2019 Sumit Kati

We often hear about a distant relative, who despite his age, suffers from no ailment. However with our hectic schedule and work lifestyle, the adage may not be applicable to the current generation. Although the life expectancy in India has increased, thus the diseases that affect the younger population has increased as well. In such a fast paced scenario, there is no better time to get your health insured.

Straight to the point
It is well known that with progressing age, the annual premium for health insurance increases accordingly. An older person, as compared to his younger counterpart, will have to pay more in order to get his/her health insured. The reason here is clear; as a person gets older, his or her chance of falling ill is higher, due to the weakening of his or her immune system. 

One never wishes to use his/her hard-earned money to pay the hospital bills. It is advisable that one gets a health insurance policy at an early age to make most of it and also avail various benefits. Here are a few reasons to make the right health decision before your next birthday. 

1) Best offers
A plan with Rs.10 lakh coverage would cost around Rs.10,000 at the age of 25. At the age of 35, the premium for the Rs.10 lakh coverage might be as high as Rs.14,000. As one grows old, the premium keeps increasing. So, book your policy at the lowest price possible. Also, you get discounts in premium or other benefits from the insurance company for leading a healthy lifestyle.

2) Health coverage
When compared to your company's health coverage, hospitalization for regular illness can cost you a lot more than you can imagine. The need for medical attention increases as you grow old. The need for insurance can not be overlooked with the increasing healthcare costs. 

3) Financial planning 
Accidents occur without any prior knowledge and it is the best to be well-equipped. Buying a health insurance ensures that you're prepared for any unprecedented occurrences. By paying your insurance premium, you can also save tax.

4) Wide-ranging deals
With a lower scope of pre-existing diseases at a young age, any illness that crops up later in your life might automatically be covered.  A wise decision of buying insurance at an early age means holistic and wide-ranging coverage. 

5) No waiting period
When you buy an insurance at an early age and you do not have a requirement for that, you have covered the waiting time. This means that you can avail the full benefits later when you are in dire need of the same for surgeries, treatments, etc.

Summing It Up
Many a times, health insurance companies offer a loyalty or bonus for people who continue with the policy, year after year. Depending on the cover, the health policy may pay not only for serious hospitalization or treatment, but also for an ambulance, medications, and other such non-hospital related things. It's also possible to customize your health insurance cover according to your family needs. In the end, the phrase stands true; make hay while the sun shines.