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Thursday, October 22, 2020

5 Points That Prove Why Investment in Health Insurance Is a Brilliant Idea

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We’re sure you’ll agree: Almost everyone wishes to lead a healthier and happier life. If only it were that easy… You’ll be shocked to know that more than 40% of working professionals are victims of some or the other lifestyle-related diseases in India.

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In today’s fast-paced life and the frenzied lifestyle, you can never be sure what medical emergency is set to knock your door. Such medical emergencies can drain out all your hard-earned money and can negatively impact your personal and professional life in a great way.

This is where health insurance coverage comes to your rescue. Those dreadful hours of waiting for doctors, loads of mental tension and the ever-so-big price tags associated with medical treatments have made more and more people realize the importance of health insurance.

But, there is still a huge fraction of people who believe health insurance in India comes only after life insurance, tax liabilities and savings. If you are above 60 and have been undervaluing the importance of senior citizen health insurance, it’s time you put your thoughts together.

We’re listing below 9 points that will reveal how important it is to invest in a health insurance plan, irrespective of your age.
So let’s dig right in! Shall we?

Preventive Care

Remember, the sage old adage ‘‘Prevention is better than cure.” Health insurance plans quite literally live up to this saying and in more than just one way. Health insurance coverage not only protects you financially in the event of medical emergencies, but they also help you stay on guard and prevent such cases.

A large number of health plans provide preventive health care benefits to the policy holders such as yearly checkups, medical examinations, and medical counseling. Such preventive health care procedures help you take necessary health control on time, avoiding any chances of medical emergencies.

Group Insurance Is Never Enough

If you are working professional, you probably already know what group health insurance is. It is the health cover that your employer provides you with. A large number of working professional with group health insurance policies don’t go for a personal health cover.

But you’ll be surprised to know that most of the times; group health insurance proves insufficient for the policy holder. That’s why it becomes important to invest in an individual health plan to ensure adequate coverage for self and loved ones.

You should always complement your group health cover with an individual health insurance policy to ensure an iron-clad financial protection against medical emergencies.

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Lifestyle Health Disorders

“Age is just a number.” Well, this saying was never so truer than today. Age has certainly become just a number when it comes to lifestyle. Almost everyone is faced with some or other health disorders owing to today’s frenzied lifestyle and junk-food culture.

Remember, life-threatening lifestyle related diseases often come unannounced and they really don’t have to do anything with one’s age. The treatment of such diseases may easily make a dent in your savings. Therefore, it makes sense to stay prepared with adequate health cover, no matter what your age is.

Cashless Medical Treatments

Yet another reason why you must have a health insurance cover in place is the fact that medical emergencies yield enough power to leave you shattered, both physically and financially, irrespective of your age.

This is where health insurance plans provide you an optimal solution. Most health insurance plans available in the market today come packed with cashless hospitalization facility. This cashless facility helps you get rid of the huge hospital bills.

Initially, the cashless hospitalization doesn’t seem much important, but at the time of any emergency, one gets to realize how awesome this facility is!

Tax Benefit

If you buy a health insurance policy when you are young, you can enjoy tax exemptions on your hard earned money for a longer period of time. There is tax exemption for dependent parents’ health insurance & senior citizen health insurance also.

These days most people start working at the age of 22-23 and getting to save taxes in addition to the health cover can really prove to be a boon for those young adults who are often in a lookout for ways to make savings.

Be advised one can claim tax exemptions for the premium paid towards individual health insurance policies as per the provisions of the Income Tax Act.

Wrapping it Up!

So there you have it – 5 unavoidable reasons why health insurance is so important. Remember, with an adequate health insurance cover in hand, you can stay on guard against any unforeseen medical emergencies.

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But it makes sense to carefully comparing features, premium and coverage of health insurance policies before finalizing one for you. In case, you are confused, don’t hesitate to seek the help of a good health insurance advisor to get unbiased advice on leading health insurance products.

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Disclaimer: This article is purely informative & educational in nature and should not be construed as medical advice. Please use the content only in consultation with an appropriate certified medical or healthcare professional.

Editor
Editorial Staffs at Healthtian, A team of Writers.
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