Buy Health Insurance

With rising pollution, madly hectic schedules, poor diet, and a sedentary lifestyle, the number of diseases affecting the young population is increasing significantly. In such a scenario, one can’t ignore health insurance!

Generally, getting health insurance doesn’t come in the bucket list of most youngsters. They would save their salaries for a trip, a gadget, etc. but would not think of spending on purchasing a health insurance policy. Majorly, it is because they are unaware of the importance and benefits of these policies. It’s high time they should understand that it’s not just vital for elders, but equally important for the young populace. Medical emergencies can strike anywhere with anyone, so whether you are in your 20s or 50s, you should be prepared for such emergencies in advance.

Also, earlier investment in health insurance also means greater benefits & perks. Let’s understand the long term benefits of purchasing a health insurance policy at an early age!

1. Covers health till retirement

If you get health insurance at an early age, it would cover the cost of your health issues till retirement and even after that. Therefore, your life is getting secured during employment as well as after it. Furthermore, you don’t have to depend upon anyone financially for your healthcare needs at an old age!

It’s like giving yourself a gift for a lifetime by buying a health insurance policy at a young age!

2. Cost-Effective

Insurers conduct pre-medical tests when you purchase health insurance at a later age. But when you are young, you are free from giving pre-medical tests. Thus, you save your expenses on these tests as well as time.

3. Tax Benefit

Under 80D of the Income Tax Act, 1961, people who buy a health insurance policy at an early age get tax benefits for a longer period. They can claim the premium which they pay as a deduction from total income under this act, making it financially more beneficial for them.

4. No issues in renewal

No company can decline the renewal of an early policy, as per the rules and regulations. So, you won’t have a hard time getting your policy renewed if you buy the health insurance policy at an early age.

5. Fewer rejection chances

The chances of your health insurance policy getting rejected are minimal because you have lesser health issues when you are young. Hence, a young age is the best time to get a health insurance policy.

6. More options

When you are young, you can choose from a variety of plans, depending on your requirements and needs. In your late 40s, you don’ get such varieties while choosing a health insurance plan. Some of the best policies are designed for young people.

7. Long term enjoyment

Getting a policy at a later age reduces your chance of enjoying the benefits for a long, long time. At that age, you also don’t get the required policy because of the limited options. On the other hand, you can easily enjoy all the perks and benefits for a great time, and wouldn’t have to worry about the age limits.

8. Low premium

Generally, insurance companies charge a premium based on your age. So, if you purchase a policy at a young age, the premium amount would be lesser.

9. No concern about waiting period

Mostly, one has to wait for a long period of time, say about 2months, to claim their policies. But if you get a health insurance policy at an early age, you can easily exhaust that period. When you are old, it is difficult to wait that long, but there are lesser concerns if you are young. Moreover, if you are above 60, your waiting period can cross 2months too. There are about 15 ailments declared by the insurance providers including Knee replacements, arthritis, cataract, etc. which have a long waiting period. Therefore, it is highly beneficial for all 20s.

10. No concern about pre-existing diseases:

Purchasing a health insurance policy in the late 40s would add to your financial burden and won’t even serve the purpose, as your pre-existing diseases won’t be covered in the policies. As you are young, medical complications are less! Hence, there would be minimal chances of getting concerned over pre-existing diseases.

11. Bonus

In the absence of claims in the preceding year, most insurance providers would not offer bonuses. But if you are the lucky one who purchased the health insurance at a young age, you can enjoy a cumulative bonus as you would obviously renew the policy every year. It will prove to be very advantageous at an older age, as the accumulated bonus would increase the coverage amount.

12. Wider Coverage

Coverage cost increases with time as one becomes more prone to diseases. But at a young age, you have greater coverage & plans. From taking care of maternity to daycare procedures, the latest plans include a lot of benefits!

In a Nutshell…

It’s time for you to stop pondering if you need a health insurance policy or not. Today, it is more important than ever! Health insurance policies can be considered as ‘basic needs’ of human beings rather than a luxury! And with such brilliant benefits of a health insurance policy at a young age, one simply can’t ignore it!

Also, buying a health insurance policy is very easy these days, and young people must opt for it! Everyone is already battling with a lot of issues in their personal lives, so don’t make medical expenses a big issue for you! Purchasing a health insurance policy at a young age would keep you stress-free of all the financial burdens, and would help you plan other long-term investments better! Health issues can strike anyone, anywhere and anytime, let’s get prepared for them in advance so that you can tackle the issues wisely when required!

You would never be in your 20s again, so take thoughtful decisions right now as your future is dependent on the decisions you take now! Choose smartly!