Health Insurance

10 Reasons Why You should Buy a Health Insurance in Your 20s

There are some decisions that you must take early on in life. Doing so brings you many benefits and helps you to save money too. One such decision is buying health insurance. Health insurance…

There are some decisions that you must take early on in life. Doing so brings you many benefits and helps you to save money too. One such decision is buying health insurance. Health insurance plans are available at a lower cost for younger people. The process to buy the cover is more straightforward too. Look at this article to know more about the various benefits of buying a health insurance plan in your 20s.

  1. Economical: The health insurance plans are priced lower for younger people. A plan that costs a 23-year-old person INR 5000 will cost a 42-year-old person INR 10,000. This is mainly because a younger person is fitter and less likely to make a health insurance claim. You can get a plan at a lower cost with a lifetime renewability option and stay covered till the last day of your life affordably.
  2. Better terms and conditions: - Since you are fitter in your 20s, you will be offered the plan on flexible terms and conditions. An older person with many health conditions may have to agree to many exclusions and other clauses. But since you are young and fit, the insurer won't bother attaching too many complicated clauses to your health insurance plan.
  3. Fewer Health complications: - As mentioned, in your 20s, your health is in excellent condition. As you age, your health will begin to fall. You may develop certain illnesses. Getting a health plan at that stage will be difficult. Make use of this advantage and get your health policy when you are young and fit.
  4. Lesser financial duties: - As an unmarried youngster, you may not have too many financial duties. It is thus more accessible for you to get a health insurance plan at this stage of life. In a few years, you will get married, have dependent children, buy a house, pay its EMIs, etc. So, get health cover now and stay protected for a long time.
  5. Easy to see off the waiting period: - Every health insurance plan has a few waiting periods that you need to see off. Getting a health insurance plan in your 20s helps you here as you can quickly see the waiting period. It is unlikely that you will make a claim now, so the three- or four-year waiting period will be covered. Then, when you are older and need to make a claim, you don't have to bother about any waiting period-related issues. 
  6. Coverage for lifestyle disorders: - Sadly, lifestyle disorders have become a part of our lives. These illnesses seem to be more common among youngsters. If you have a few faulty lifestyle habits such as smoking, not sleeping enough, and eating unhealthy foods, you may be susceptible to lifestyle illnesses such as obesity and hypertension. These ailments are hazardous and can make you very sick. Stay protected by getting a good health insurance plan so that even if you get sick, you can get treated in the best possible manner.
  7. Lower chance of rejection: - It is common for people to have their health insurance applications rejected. When someone has many pre-existing disorders, their health insurance proposal is rejected. Then, if the person is overweight or has a history of ill-health, the health plan may not be given to him. These are problems that older people primarily face. When you are young and fit, the chance of rejection is practically nil. You are pretty assured of getting the best health insurance in India at a reasonable price.
  8. Reduced dependence on group health cover: - As a young working professional, you will have group health insurance cover. However, this cover has various limitations. You can lose the health cover overnight if you get fired or leave the job. There is a lot of uncertainty associated with it. Then, there are many limitations in a group health insurance plan. You cannot make the plan flexible as per your needs. This is why you need to have an individual health insurance plan as a backup. The health plan will not just cover you, but also your dependents which at this point in life may be your elderly parents. So take care and get a good health insurance plan that will offer comprehensive, continuous, and wholesome cover to cater to your needs.
  9. Tech-savvy: - Modern-day insurance plans are available online. As a result, older people struggle to understand the digital nuances. For you, this should not be a problem at all since, as someone in your 20s, you are indeed very tech-savvy. You can buy health insurance online rapidly and effortlessly. You can get the plan instantly without even having to leave your home. So go online and run a comparison. Once you locate the ideal cover, make a purchase then and there. You can also renew the plan online in a matter of a few minutes. These are some of the benefits you get when buying a health insurance plan online in India.
  10. Tax benefits: – And last but not least, you can enjoy tax benefits when you buy a health insurance plan. You can get income tax deductions under Section 80D. When you get a health plan as a youngster, these tax rebates are available to you early, giving you a better understanding of tax savings.

Keeping the points mentioned above in mind, it can clearly be said that getting the health insurance plan as per your need at a young age is the best decision you can make. Explore your options, compare health insurance online and make a purchase smoothly and straightforwardly. You will end up with an excellent medical insurance cover that would be wholesome and economical as well.

Disclaimer: The information published in this article is for reader′s reference only. The content of this information is to provide an overview of your health insurance needs. It should not be relied upon for personal, medical, legal or financial decisions, and you should consult an appropriate professional for specific advice. The makes no representations about the suitability, reliability, timeliness, and accuracy of the information, services, or any other items mentioned on this subject for any purpose whatsoever.

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