As a happy healthy twenty-something, you may think getting health insurance or worrying about it is something to be reserved for your late thirties. But there are clear benefits to getting health insurance before your thirtieth birthday and these don’t have anything to do with whether your health is suffering today.
The Younger You are, the Lower Your Health Insurance Premium:
Health insurance premium is highly dependent on age and in fact there is a steep jump in the premium slab post age 30. For instance, if you purchase a health plan of Rs. 5 lakh at an age of 25 years then you might just pay a premium of Rs. 5000 but the same policy would cost you much more at an age of 35, even with no ostensible change in your health indicators. Hence, book your policy as early as possible for a lower premium.
Sedentary Lifestyle has Increased Illnesses
Our hectic schedules and sedentary jobs have increased occurrence of lifestyle disorders in younger people. Now problems related to cholesterol, diabetes, heart and lung or even orthopadeic concerns do not require you to be middle aged. Stress-related hypertension is taking its toll on young high-powered corporate who have no idea how unhealthy they actually are until something truly serious happens and they wake up to reality. This is a big reason to make you purchase a health insurance policy in time. Various health plans offer annual health checkups for building awareness.
Group Health Insurance is not Sufficient-
The imperative need for health insurance cannot be overstated with the increasing costs of healthcare. Your company’s coverage might not be enough to take care of your frequent medical expenses at an older stage.
Early Purchase for Availing all Benefits –
There are certain requirements of a health plan wherein you need to go through a waiting period for the treatment of pre-existing diseases, surgeries or special treatment. At a younger age you might not require these benefits immediately, but at an older stage of life you might need them urgently and you won’t be able to access the features because of the waiting period. Take the policy now so that you can make full use of the policy when you do fall ill in the future.
In addition to the benefits and lower premium, it helps in financial planning as well. Health plan would cover your unfortunate accidents or your medical expenses. And, your hard earned money can be utilized in the investment process for a better tomorrow. You also get tax exemption on the premium you pay for your health insurance policy under section 80D.
There are some other added advantages available under a comprehensive health plan such as day-care procedures, ambulance, non-hospital services like dental, optical, physiotherapy, dietary advice etc which are always useful no matter how old or young you are.