“I am too young to own health insurance”, “I’ve just started working, I can’t afford a plan”, “I never fall sick, I don’t need it”!
Any of these reasons can be an excuse for not buying health insurance at your young age. But, the only reason to buy health insurance is the financial safety net that it offers during medical emergencies, irrespective of whatever your age is!
In this regard, the top 5 reasons to own a mediclaim insurance policy are:
1. The Younger you are, the Lower the Insurance Premium:
Factor - ‘AGE’ plays a pivotal role in deciding the insurance premium, especially in the case of health insurance, it takes a steep jump in the premiums in your 30s. For instance, if you buy a policy with Rs. 5 Lakh sum insured when you were 25 years old, the premiums will be around Rs. 5000. The same policy will cost you much more when you are 35 years old, while the offerings still remain the same. Lower premium is the most alluring benefit of buying health insurance before you attain 30.
2. Your Employer’s Coverage won’t suffice your Needs:
With the ever-soaring healthcare cost, the need for individual health insurance can’t be overstated. In this regard, whatever is offered under your employer’s health coverage may not be sufficient. Compare the cost of a week’s hospitalisation expenses with the employer’s coverage; you may persuade to buy a cover immediately. Still not convinced?
What about your retirement days, because the employer’s health insurance cover you until you are employed with the organisation. The day you put down your papers, the policy will no longer cover you. Moreover, frequent medical attention is required when you grow older and this can wipe out a huge chunk of your savings. So, think about it!
3. Because Lifestyle Diseases are taking a toll:
With lifestyle diseases are on the rise, having health insurance is necessary, even if you are not reaching the mid-age. Due to the sedentary lifestyle, the occurrence of critical illnesses is increasing. Disorders like high BP, diabetes, cancer, stroke, etc. can claim younger lives as well by making anyone their prey. With health insurance, you can cover the expensive treatment cost and the preventive healthcare option encourages health awareness.
4. Avail Comprehensive Deal Easily:
The young buyers are more likely to get a comprehensive deal at an affordable premium. At this age, the scope of pre-existing illnesses or other health issues are almost zero. Hence, the insurer considers young people less risky with regards to claim. This also helps to serve the required waiting period for pre-existing illnesses easily and any condition developed at a later age can be covered easily.
5. Because it is much more than Hospitalisation!
Health insurance is much more than just hospitalisation. Apart from covering the accidental cases or other illnesses leading to hospitalisation, it also considers vector-borne diseases, day-care procedures, OPD, etc. depending on the health insurance policy you have opted for. Some other plans also cover maternity, which ensures that your new-born baby gets full coverage with an additional premium. Bingo!
Health insurance comes with power-packed benefits. It offers a financial shield in the case of medical emergencies.
Now, it’s totally your call how you deal with it!
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