The importance of health insurance is unparalleled to say the least. Health insurance is what keeps your savings secured and your mental peace intact in case you are unfortunately hospitalized and have to undergo treatment or if the same thing happens to any other family members. This works as a godsend during medical emergencies since you do not have to worry about cash and can instead focus on getting the right treatment done.
Health insurance is the specific agreement by which the insurance company agrees to provide a compensation guarantee for medical expenditure in case of illness of the insured or an accident which leads to hospitalization. In most cases, insurance companies have tie-ups with hospitals in order to ensure cashless treatment for the person insured. In case there is no tie-up the costs are reimbursed later on by the insurer.
Here are some of the key reasons why one should always possess health insurance:
· Change in lifestyle- There are multiple factors that necessitate possessing health insurance plans. Changes in lifestyle have naturally increased our vulnerability to disorders and health problems. Count in higher stress and strain, poor eating habits, pollution, food quality changes and you get the picture.
· Growing costs of medical treatment- Costs of medical treatment have increased hugely in recent times. In case of any medical emergency, most people end up dipping into their savings which can often impact their plans for the future. Most Indians majorly depend on their own savings with regard to combating health emergencies. You can prevent this if you have health insurance.
· Tax benefits- Payments of health insurance premiums will also be eligible for deductions under Section 80D of the Income Tax Act. People up to 60 years of age can claim deductions up to Rs. 25,000 for health insurance premiums that have been paid for themselves. They can claim an added Rs. 50,000 as deduction on premiums paid for parents who are 60 or above.
· Ample coverage for other expenditure- Post and pre hospitalization expenses are covered by health insurance plans without any hassles which include OPD, ambulance, medicines, diagnostic tests and so on. This is why health insurance is very important.
· Extra advantages- There are several benefits including coverage for day-care surgery, ambulance, health check-up coverage and vaccination costs under health insurance plans.
These are some of the key reasons why health insurance is really very important. Many people often wonder about the right age for purchasing these plans but to be honest, there is no such right age. You should get health insurance early on in life since you will have to pay less as premium since the risks of youth are lower. The premiums for these plans are majorly influenced by factors like medical history, age and the city of residence among others. Buy a health insurance plan as early as possible in order to reap the benefits. Health insurance keeps you worry-free from the cost of future medical treatments or emergencies.
And in case you already have bought one, but you feel dissatisfied by the policy you purchased or believe you were scammed? If so, you can ask us for help https://www.insurancesamadhan.com/register