Health Insurance Policy you need for different life stages?

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It took a pandemic to make people realise that a health insurance policy is a must at every age of your life. The importance of having sufficient medicare insurance coverage is an eye opener for many of us. Many of us have already been financially hit because of the major decline in income due to the lockdown. And if you or any of your family members have/had covid, one can only imagine the kind of financial burden you must be going through.

Now is a really good time to invest in a health plan to help you cover future medical treatment requirements and also the possibility of a COVID-19 treatment too.

A health insurance plan of the correct amount of coverage, may help you over monetary deprivation associated with medical bills all through life. So, how much health insurance should you have? The answer to that depends on the need for health insurance adjustments from your youth to adulthood and also on your life-style habits and genetics.

Here is a guide to how much medical insurance coverage one should have at different stages of life.

PS – Refrain from investing in the cheapest health insurance policy available, Focus on what you need so that you can protect yourself well. Age 20s, with a good lifestyle and healthy body.

Though you may not feel the need for a health plan at this age, it is better to be prepared for any medical emergency or surprises like COVID-19.

Age 30s This is the time you would want to start your own family, which means you now need to secure the health risks of your entire family.

Also Read: 7 Types of Deaths are not Covered in Term Insurance Policy

You can increase your health cover by either buying a single and big cover or opting for a basic health insurance cover with an additional top-up coverage. The latter is always a better option since it is more cost effective.

Know more about top-ups and super tops here:-

Age 40s this is the time where your children are older, and so are you. Usually at this time, stress levels are high and most lifestyle diseases like heart disease, diabetes, hypertension, strokes and cancer, creep in. Hence, In addition to the plans already bought, you will need to buy a critical illness plan as a priority.

This is the time to focus on a healthy diet and lifestyle!

PS- you can go for covers that reward and encourage healthy lifestyles.