Health Insurance

Advantages Of Buying Health Insurance Plan In Early Stage Of Your Life

Health insurance is an insurance that aids in covering the cost of medical expenses when a person suffers from serious diseases or health issues. The changing lifestyles in today’s time have resulted…

Health insurance is an insurance that aids in covering the cost of medical expenses when a person suffers from serious diseases or health issues. The changing lifestyles in today’s time have resulted in making the human body prone to many serious diseases and health concerns. The surging healthcare expenses have resulted in the importance of health insurance to meet the expenses at the time of medical emergencies. But people do not often pay much attention to health insurance and wait till their late 30s or 40s to get one. But it is always recommended to go for one at a young age say in your late 20s. This might not seem like a good idea to a lot of people because little do they know is that availing health insurance at an early stage of your life comes with many advantages.

Some of the Advantages of Buying a Health Insurance Plan at an Early Stage of your Life are Explained below:                         

You can enjoy the benefit of a lower premium amount: Buying health insurance at an early stage of your life requires you to pay a lower amount premium. Best health insurance in India is highly dependent on the age factor of the insured. The premium amount keeps on increasing as your age increases and you move towards old age. Even if your health conditions are the same as it used to be when you were younger, you are ought to pay the higher premium amount only because of your age. Hence, it is recommended to avail it as early as possible to enjoy a lower premium.

The lifestyle we follow these days makes people of every age group vulnerable to serious health concerns in long run: The lifestyles that we are used to following in today’s time involves hectic schedules, sitting jobs, lack of exercise, junk foods and so on. This lifestyle has made us all prone to health issues irrespective of our age. Serious illnesses like diabetes, lung infection, heart disease, cholesterol, etc. do not come after seeing your age. They can occur at any age. We cannot predict what our body is going through until some major disease shows up its symptoms. Long before you know, you are hospitalized and have been diagnosed with a major disease. And then lies a huge amount of expenses ahead. Hence, you should buy health insurance as early as possible to meet such expenses in unforeseen circumstances.

Aids in better financial planning: Buying a health insurance policy at an early stage aids in better financial planning.  At the initial stage of our job life, the total earning is less and expenses are more. If any serious diseases show up, the expenses for the same could cost you quite a fortune. If you buy health insurance at an early stage, then your medical expenses will be covered by the insurance. You can have good savings of your hard-earned money and allocate your money in better investment schemes. Premium amount paid on health insurance in India is also allowed for deduction under Section 80D of Income Tax Act thus reducing your total tax liability.

Makes you eligible for comprehensive deals and add on services: If you buy a health insurance plan at an early stage of your life, you will be able to avail comprehensive deals for any disease specific expenses and other add-on services in the plans. Besides serious health issues, new plans and schemes also cover normal daycare procedures, vector-borne diseases, maternity benefits, OPD expenses and so on. You are eligible for these additional benefits only when you purchase the plan at an early stage. Also, if there are any pre-existing diseases in your body, the same gets covered up when you opt for the health policy early. Postponing it to a later time would not cover your pre-existing diseases.

The insurance plan turns more beneficial when you age: Some best health insurance requires you to serve a minimum waiting period before becoming eligible to availing certain benefits like special treatments and surgeries. When you buy it at an early stage of your life, you would have automatically served the requisite waiting period till the time you attain an older age. Thus, when you are older, you will be eligible to avail these special benefits if the need arises.

Last updated on