Home Health Why is it better to get health insurance early on in life? 

Why is it better to get health insurance early on in life? 

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Getting health insurance when you are young has many benefits. You get the plan at a lower cost and your health stays protected too. 

No one can afford to live without health insurance in today’s day and age. This is because the healthcare costs are very high and to be able to afford the best hospitals and doctors, you need the assistance of a good health insurance policy. This is why everyone needs to invest in good medical coverage as early as possible. There are several advantages to buying health insurance when you are young. Let’s find out more in the article below.

Getting health insurance early on in life

Here are some of the most logical reasons that tell you why you should get health insurance early on in life:

1. You are fitter

The biggest benefit you get is your health. As a youngster, you are fit and healthy. This is why health insurance plans cost a lot less at this stage of your life. The health insurance company takes on a risk when they insure your health. This is why an older person with existing health conditions is seen as a riskier client as compared to a young and fit person. Take full advantage of this and get your medical coverage as soon as possible.

2. You have fewer responsibilities

As a youngster working at your first job, you would surely have fewer responsibilities now. You don’t have a spouse and child to support. You probably don’t even have a home loan to repay. As a result, your disposable income is higher and this makes it very easy for you to afford the health plan. Exploit this benefit and get your health plan right away in the most affordable manner.

3. Easy to exhaust the waiting period

Most health insurance plans in India have the concept of a waiting period in them. Here, you need to wait for a few years before you can make claims for specific ailments, such as maternity costs and ailments related to pre-existing diseases, such as diabetes and hypertension. When you are young, you take the health plan as a backup and don’t always need to make claims on it. This tenure works very well to exhaust the waiting period. Later on in life, when you get sick and need to make claims, you can do so without worrying about any waiting period.

4. Easy to accumulate NCB

The no-claim bonus is a benefit you get for not making any claim in an entire policy period. This is a reward that is given to you in the form of extra coverage at no added cost. The NCB accumulates each year, and you can have almost double your initial coverage amount in a few years. As a young and fit person, you may not have to make any health insurance claims and this will help you pile up your NCB very easily. 

5.Financial independence 

And last but not least, you get a lot of financial independence. As a fresher working at your first job, you may not have a huge salary. One health issue or accident resulting in hospitalisation can wipe off your entire bank account and make it very difficult for you to manage your money. When you have health insurance, you get a lot of financial independence as you know that even if a health issue strikes, your money will be safe.

As you can see, the reasons mentioned above are all very obvious and help you to understand how beneficial it is for you to get the best health insurance in India when you are young and fit.

Advantages of having health insurance

If however, for some reason, you were unable to get health insurance when you were younger, you should get a plan right away. It is very risky to stay without insurance and so invest in a good health insurance policy if you haven’t done so yet. Here are some advantages of having health insurance:

1. Covers your health 

The biggest reason for choosing health insurance is to keep your health secure. You need to get a mediclaim policy that would cover you and your family members under comprehensive coverage. With this in place, you can get the best treatment whenever there is a health scare. You don’t have to make any compromises with your health and this is an absolutely priceless gift. Get health insurance and give yourself and your loved ones a better chance of living a healthy and happy life.

2. Covers your finances

As mentioned above, healthcare expenses are very high these days. Even a basic appendix surgery costs about INR 70,000 in a big hospital in India. A hospital stay of a week can rake up a bill of lakhs! This is why health insurance is so important. If you don’t have a health policy, you will have to pay the entire bill on your own and this can wipe off your savings. So, investing in a medical insurance policy not just covers your health but also safeguards your hard-earned money.

3. Offers tax benefits

You also get some very handy tax benefits when you invest in the best health insurance in India. Everyone looks to make investments that help to save tax. The health policies in India allow you to get an income tax rebate under Section 80D of the Indian Income Tax Act. This makes it very easy for you to save tax while you keep your health and wealth protected as well.

4. Gives you a lot of mental peace

Finally and most importantly, you get a lot of mental peace when you invest in a health plan. As the head of the family, you always want the best for your loved ones. When you cover them under a good health plan, you assure them of good health and prosperity. Health issues and accidents come unannounced, and staying prepared for them is a great idea. When you have the preparations in place, you get to live a worry and stress-free life which makes it an ideal and happy situation to be in.

Keeping the points mentioned above in mind, go and look for the best health insurance in India and get coverage right away.

The bottom line

Gone are the days when buying a health insurance policy was considered to be a luxury. These days, everyone needs health insurance. And as you saw, getting a plan when you are young has its own advantages. However, you should get a health plan, irrespective of your age, as staying without health insurance is too large a risk to take. There are some excellent health covers available in India these days, so do your research and find the plan that’s best suited for you and your family.

Disclaimer: This article is for illustrative purposes only. For further details, please refer to the policy wordings and prospectus before concluding the sales.