7 Reasons Why Investing In A Health Insurance Before You Turn 30 Is A Good Idea!

7 Reasons Why Investing In A Health Insurance Before You Turn 30 Is A Good Idea!

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A visit to the hospital brings with it endless hours of waiting, stress, and big bills. This is why investing in health insurance has become more of a need than a want. It is important more than ever now because the cost of medicines and treatments are increasing drastically. Also, there is a spike in lifestyle diseases across the world. In such conditions, you never know when a medical emergency might knock at your door, impacting you mentally, emotionally, and financially. Experts in the field recommend the purchase of a health plan while you are still young. Here is why a good health insurance plan can serve as your lifeline.

1. You Get the Best Bet If You Are an Early Bird

 

Typically, a plan that offers a 5-lakh coverage would cost you around Rs.5000 if you buy it when you are 25. As you get older, the price only increases. You will pay Rs.6000 at 35, and Rs.8000 at 45. To sum it up, the earlier you begin investing in a health plan, the lower the premium you have to pay.

2. The Employee Coverage Is Never Enough

There is no denying that there is a major increase in health care costs. Just a week’s hospitalization for a regular problem will cost way more than the coverage your company offers. God forbid, if something major does happen in the course of your life, you should rather be safe than sorry. It is best to plan for your future now, keeping in mind the contingencies that age brings with it.

3. Lifestyle Illnesses Can Strike Anytime

Gone are the days when you had to worry about your health only after you turned 60. Sedentary lifestyles have led to an increase in non-communicable diseases like heart ailments, diabetes, and even cancer. These diseases are claiming young lives. It has become extremely essential to stay ready for these problems, and getting your health insured is the first step. The reason being the good policies offer yearly health checkups that instill awareness. They also offer preventive measures and vaccines that help you manage your health better.

4. Early Investment in a Health Insurance Plan Amounts To Better Financial Planning

Buying a health insurance early is not only cheap but is also a financially sound decision. Accidents happen unannounced. A medical cover of a substantial amount will prepare you for emergencies, allowing you to plan your investments better. You will also save tax on the premium you pay.

5. Young Buyers Get a Blanket Deal

When you invest in a health insurance while you are still young and free of a pre-existing disease, you will be covered before time. Also, conditions diagnosed later will automatically be included.

6. The Waiting Period Will Be Over

When you buy a health plan, you usually have to serve waiting periods for big claims like special treatments, surgeries, coverage on pre-existing illness, etc. If you invest now, when you do not buy it immediately, you will have served all the requisite waiting periods, and can claim whenever required without conditions.

Another notable fact is that with time, you can earn loyalty bonuses. Continuing with the same policy year after year offers loyalty or no-claim bonus that is extremely beneficial.

7. More Than Just Hospitalization Is Covered

The newer plans also cover day-care and OPD consultations. Some policies also have maternity benefits, which might be relevant while you are in this stage of life. Your baby can be covered from birth without an additional premium.

It all depends on the level of coverage you opt for – it helps you pay for day-care procedures and ambulance. Certain policies even cover dental, chiropractic, optical, physiotherapy, and dietary advice. With health insurance, you can even customize the plan and gain an umbrella cover for your family too. What are you waiting for? Get your health insured today!

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