10 Reasons Why You Should Buy Health Insurance
You never know when a medical crisis will attack you and without appropriate planning, you can not fight the cost of inflation in the health sector. Health insurance plans are designed in a way that provides coverage for your medical expenses during an emergency. And toppling one’s hard-earned money in medical expenses seems not to be a good idea in this era. It’s the end of this hour that you own a safety net that can provide you and your family with the coverage that’s required in a situation of emergency.
Medical emergencies come without a warning. Considering the rising inflation and increasing medical costs, an unexpected medical treatment in today’s age can topple your life savings like a pack of cards. The youth is continually grappling with career and relationship aspirations; they may hardly invest their thoughts in health insurance. Most young people share a misconception that health insurance is for old and married people.
Some may think of health insurance as an additional investment that may hamper their savings. Few consider their workplace health insurance to be sufficient. However, it’s more sensible to buy health insurance before your 30s rather than wait until your 40s.
What are the reasons you should buy Health Insurance?
These are the reasons with benefits that justify why you need to buy a health insurance premium:-
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Waiting Period:- Most health insurance plans come with a waiting period during which you can not claim medical coverage. The waiting period generally spans from 30-90 days or some can expand up to 2 years as well. This kind of policy has a list of which kinds of ailments are covered under the plan. It’s hence suggested you buy a health insurance plan during your 20s or 30s when you’re very less prone to diseases.
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Comprehensive Coverage at a Low Premium:- An individual aged between 25-30 years is likely considered to be less prone to diseases. That’s why the insurance provider does not hesitate to offer them health insurance and charges them comparatively lower premiums. It often provides comprehensive coverage to the policyholder if purchased at a very young age.
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Broader Coverage:- To those individuals who are under the age of 30 years, insurers are least suspectant to an illness for them. Hence, they provide young age policyholders with daycare expenses, OPD, critical illness, maternity benefits, etc.
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Pre-existing Conditions:- There is not a single company in India that provides medical coverage for people having a pre-existing condition as they are more likely to make claims for advanced treatments for their ailments.
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Affordable Premiums:- As compared to other types of insurance policies, a health insurance plan with basic coverage costs you, not the heavy-on-pocket amount, it generally comes with an affordable premium amount.
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Financial Protection & Planning:- When you’re worry-free from all health-related expenses, you and your family get wider coverage with a health insurance plan. Beyond that, you can conveniently plan your finances for long-term investments rather than worrying about a medical emergency expenditure.
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Protects your Family from a Medical Condition:- In the long term, it usually helps to get better treatment for your whole family and yourself. In contrast with the changing times that are coming with inflated medical care, health insurance plans are worth all the hype.
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Rectifies a Sedentary Lifestyle:- Since insurance companies provide the policyholders with a no-claim bonus amount, the policyholder is more likely to maintain a healthy lifestyle throughout his/her life. As it’s said, we humans are meant to have more benefits for free, so we cannot afford to let go of all the bonuses that we’re gonna get out as a non-claimed bonus amount. And to achieve this benefit, we’ll try to have a good lifestyle first that will help us live our lives happily and worry-free.
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Tax Benefits:- With the ownership of health insurance plans for yourself or your family you get tax exclusion benefits on the policy when you file a claim.
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Routine or Alternative Check-ups:- Health insurance plans give you the freedom to get yourselves examined medically/physically such that, even if there’s a one per cent possibility of you getting an illness or a disease, it’ll be cured without any fail.
Conclusion
To sum it up, it’s a wise decision to make your small amount of money work as an investment for the future. The right way to utilize it is by buying a health insurance policy for yourself and your family members and loved ones. It’s better to buy health insurance plans when you’re young and earning potentially high. Because at a young age, you don’t have that much of responsibilities to carry, that makes you save more of your money. A health insurance plan protects you from spending a hefty amount on your medical bills incurred due to a medical condition or a health issue.
A responsible individual should be aware of the best health insurance quotes available online, and policyx.com provides you with the best health insurance quotes for free. To buy or take a consultation for a health insurance policy, you can easily reach out to the expert advisors at policyx.com
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