5 Reasons to Get Health Insurance When You are Young

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Health Insurance companies have emerged out as one of the leading companies in India. Nowadays where the cost of simple commodities is on rise, the expenses of hospitalization and medications are reaching its peak. Health Insurance cuts down these expenses by providing full coverage financially when you are hospitalized. For this, all you have to do is pay them the premium monthly or annually. There is no age for health fluctuation and accidents can happen to anyone at any time. Therefore, getting a health insurance done at an early age saves you from heavy expenditure on hospitalization if needed.

Know about top 5 reasons why you should get a health insurance when you are young:-

  • Earlier, the better: When you are young, you are least concerned about health as you are under the impression of being fit and healthy but health problems can pop up at any time, therefore the need to buy health insurance to assure yourself that you have a financial aid at a time of any emergency that crop up. Moreover, health insurance benefits are higher when a younger one buys it than people who are aged. Also the premium for the young are lesser compared to the elders. There are chances of your health insurance getting rejected if you are applying for it at an older age, thus age factor matters a lot when buying health covers.
  • Sedentary lifestyle: With the emerging technology and gadgets, our lives seem to revolve around the desk boards due to which many of us suffer health issues at an early age and accidents as known are sudden that can occur anywhere with anyone at any point of time, therefore the need for health insurance coverage in hospitals that are also designed to be overrated in this era.
  • Employer cover is not enough: Many of us working in reputed companies are given health insurance benefits or a mediclaim but these are most of the time based on the salary which you get due to which some of us working at a lesser basic gets a sum for health cover which is most of the time not adequate. Also there are instances where these employment covers do not provide full coverage for medication and hospitalisation, as a result of which you need to pay certain percentage of the bill. These employment covers also lack in providing coverage to your family and in case you leave the company, you are left with no coverage, therefore the need to insure yourself with a personal health insurance at an early age.
  • Serves you with more than just hospitalisation: Nowadays you get a lot more than hospitalisation from health insurers. They also cover for vector-borne diseases, maternity benefits and services like ambulance, dietary services, dental, physiotherapy, homeopathy among others. They also cover pre-hospitalisation and post-discharge expenses up to 30 days of hospitalisation.
  • Tax benefits: The premiums you pay to health insurance companies are eligible for tax benefits under Section *)D as the health insurance premium paid for self, spouse, children and parents all cater for tax deductions. Also, the income tax rules allow for deduction under Section 80D for preventive health check-up as well.
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It is important to first do the complete research and comparison between health insurance companies before buying insurance. With the rise in medical cost and health problems, health insurance has become a vital need in our lives, however one should be sound enough to choose and pick companies that are genuine and will provide you with definite aid and benefits at the time of need.

Shailesh Kumar

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