Health Insurance Plan

One of today’s youth’s primary goals is to live a life that maximizes their potential. Preserving your assets is a fundamental rule for creating and living the life you desire. And what is more valuable to you than your health?

If you are fit and healthy, there are no limits to what you can achieve as a human being in this world. However, in attempting to live as healthy a lifestyle as possible, you should also be prepared for the worst-case scenario. The worst-case scenario is that falling unexpectedly ill. And the truth is we can never see sickness or any other medical emergency coming. 

Medical emergencies can have a significant impact on your life goals. Not to mention the fact that they burn a large hole in your pocket! So, what can we do to protect our most valuable asset? Of course, you should invest in health insurance. Health insurance is the most obvious choice for protecting both your health and your wallet in an efficient and effective manner. Let’s see how.

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Below are some of the many benefits of investing in a good health insurance policy:

Cost-effective investment

Health problems can strike anyone at any age. With today’s rising treatment costs in India, hospital bills can almost bankrupt you if you have a serious illness. On the other hand, if you have a comprehensive health insurance policy, you will be able to cover all of your future treatment costs.

Furthermore, while you compare the proportion of the premium amount versus the treatment benefit you receive, you may find that the treatment benefit is signifcantly higher than the amount of money you have invested. For instance, if an individual aged 35 years pays the premium amount of Rs 5000 annually, he can avail of treatment benefit of Rs 5 lakh, which is a significantly higher amount. As a result, health insurance is a low-cost investment that can help you secure your future health.

Most medical bills covered

In India, it is common for people to avoid going to the doctor because the problem is not “severe enough” to warrant a hospital visit. Unfortunately, this frequently exacerbates the underlying problem and may pose a more dangerous health risk in the future. Therefore, it is important keep track of your health and get the required treatment done in time.

Moreover, while staying covered under health insurance with adequate coverage, you need not worry about the treatment cost, pre and post hospitalization expenses, consumable expenses, etc., as most of these are covered under the plan. However, in order to leverage maximum benefits of a health insurance plan, it is important to choose an adequate sum insured and check the benefits, inclusions and exclusions carefully.

No claim bonus

In the initial years, if you do not avail of any health insurance claim, insurance policies provide a bonus. This bonus accumulates over time, resulting in a sizable cumulative bonus amount. If you invest in a health insurance policy when you are young, you will undoubtedly benefit from a massive cumulative bonus in the years to come, as the chances of you making a health insurance claim when you are young are low. 

Secure financial future

You do not need to save money for healthcare costs because you have purchased a health insurance policy. This frees up a significant amount of money, which you can now use to secure your financial future. This can be accomplished by investing in the stock market, purchasing bonds, or investing in mutual funds, among other options. You can also use the money to achieve other life goals, such as purchasing your dream home or going on vacation.

The points mentioned above surely tell you how crucial investing in health insurance is. So, make sure you buy health insurance from trusted insurance companies and do thorough research to get the best policy. Reputable insurers like TATA AIG offer comprehensive health insurance plans online at reasonable premium rates and extensive features like cashless facility, pre and post hospitalization expenses, restore benefits and more.