Those who are in their first job or in their 20s would hardly think of getting a health insurance policy. However, having a health insurance policy before 30s has ample advantages. Let’s delve into the reasons why you should have a health insurance plan before you cross 30.
Having a health insurance plan is always beneficial these days to meet the soaring medical costs. Also, it saves from burning a hole in your pocket and protects your investments and savings from depleting. You can also be aware of any health ailments by having regular health check-ups. If you are getting health insurance early in your age, you can enjoy some more benefits other than just the coverage.
Younger Your Age, Lesser Is Your Premium:
The premium for health insurance depends highly on the policyholder’s age. If you are in your 20s you pay lesser premium than when you cross 30. As soon as you cross 30, you will find a steep jump in the premium prices although your health indicators remain unchanged.
Increased Health Risks With Sedentary Lifestyle:
Nowadays irrespective of your age any individual may suffer from high cholesterol, diabetes or any heart-related disease. The hectic job schedules and stress lead to these issues like hypertension and stress. While we keep living the sedentary lifestyle we hardly understand our problems unless something happens to us. This is a major reason to have a health insurance early while annual health check-ups also raise awareness.
Waiting period isn’t an issue:
Every health insurance plan has a waiting period during which you cannot avail the benefits of the plan. If it is purchased at a later age, you may have to pay the expenses of any health ailments during the waiting period. With a higher age, you are prone to health risks and may need to use your health insurance plan urgently. Your health is considered more fit at an early age, and you may not require to use your health insurance immediately. So you can easily get through the waiting period.
Insufficient Group Health Insurance Plans:
The increasing costs of health insurance plans make it imperative to have one. Irrespective of the company’s group health insurance, one should have a separate health insurance plan as this will not suffice the needs of the family. Purchasing health insurance early would help you understand the family’s requirement and thereby help in getting the desired health insurance plan.
Financial Planning:
If you have a health insurance plan your health costs would be taken care of in case of emergencies while you can plan to invest your savings to generate better returns. Also in case of health insurance plan you can enjoy tax benefits under Section 80D. Having a health insurance plan helps you park your savings in different avenues, thereby planning for your future.
Also, few comprehensive health insurance plans help you get coverage for day-care procedures, ambulance expenses, optical, dental, dietary advice, and physiotherapy, which helps even when you are young or old.