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6 Reasons Why You Need Health Insurance Coverage

by Lee Mark

Access to high-quality medical facilities and hospitalisation fees can be difficult financially, given the escalating cost of medical expenses. Therefore, obtaining health insurance for you and your family can give you the extra security you require in situations like these. In addition to the apparent advantage of being able to care for your loved ones with financial security, having a health insurance plan is quite helpful for fighting the inflation of medical costs.

Here are six important reasons why you should think about purchasing health insurance right away:

  1. To combat lifestyle-related disorders

The prevalence of lifestyle diseases is increasing, particularly among those under the age of 45. Diabetes, obesity, lung issues, heart disease, and other conditions that are common in older individuals are now also common in younger people. Sedentary lifestyles, stress, pollution, unhealthful eating patterns, gadget addiction, and irresponsible lifestyles are some contributing factors that result in these disorders.

Choosing to invest in a health plan that includes routine medical exams can aid in the early detection of certain ailments and make it simpler to handle medical costs, giving you one less thing to worry about.

  1. To safeguard your loved ones

Instead of purchasing separate plans for each member of your family, you can choose to cover everyone under the same policy when searching for the appropriate health insurance plan. Take into account your dependant youngsters as well as your ageing parents, who are probably more susceptible to illnesses. If you have the right health insurance, you won’t have to worry about making sure they receive the greatest medical care should anything unfortunate happen.

  1. To combat insufficient insurance coverage

If you already have health insurance, check exactly what it protects you from and how much  health insurance coverage in India it provides you. It most likely will offer minimal protection. Your current policy may not be adequate in times of need if it does not cover potential hazards like diseases or illnesses that run in the family. *

  1. To address healthcare inflation

The price of therapy grows as disease rates rise and medical technology advances. It’s also crucial to realise that medical expenses are not just related to hospitals. The price of doctor consultations, diagnostic tests, ambulance fees, operating room fees, medications, and other expenses are also steadily rising. You can avoid the burden of medical inflation and choose high-quality care without worrying about the expense by paying an annual health insurance premium that is reasonably priced.

  1. To protect your savings

While dealing with a sudden sickness that can cause emotional pain and stress, there is another aspect of managing a physical condition that can drain you financially. You can better manage your medical expenses by purchasing good health insurance coverage without having to use all your money. In fact, some insurance companies offer cashless care, so you won’t even need to be concerned about reimbursements. Additionally, having health insurance entitles you to tax advantages, which boosts your savings even more. ** ##

  1. Buy insurance early to avoid risk.

Early adoption of health insurance offers many advantages. You can enrol in plans at reduced rates since you are young and healthy, and the benefit will last as you age. You will also have the choice of more comprehensive coverage packages. Pre-existing conditions are typically not covered by insurance during a waiting period. You will benefit from having comprehensive coverage that will be helpful if you become unwell later in life because this period will expire while you are still young and healthy.

In today’s fast-paced world, having health insurance plans for families is a must-have requirement. Decide on a health insurance plan that best meets your needs by conducting thorough research.

* Standard T&C Apply

** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.

## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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