5 Reasons to buy health Insurance in Your 30s
When you’re young and healthy, you won’t probably feel the need to buy health insurance. However, you need to be pragmatic about the fact that an illness doesn’t come informed. A medical emergency can occur anytime, and what will happen if you are not financially prepared to face it?
Despite this, health insurance plans are the most neglected type of insurance. But in the past few years, there has been a spike in the incidence of health disorders, and this is why having a health insurance policy to meet your healthcare needs is much more than just a necessity.
Why Buy Health Insurance?
The paradigm shift in our lifestyle has made us prone to a wide range of health disorders. Long-distance travel to work, busy work schedules, next to no physical exercise, wrong eating habits, adulteration in food and rising pollution levels have increased our risk of developing health problems at a young age.
Additionally, increasing health care costs further highlights the need for having a health plan. There are innumerable reasons to have a health insurance policy in place, and if you have a family to support, you can buy a family health insurance to take care of the medical needs of your family.
The last thing that you would want to do is wipe off all your savings to meet your medical needs. Hence, it is very important to have health insurance to access medical facilities, without any hassles.
5 reasons to buy health insurance in your 30s
Health insurance covers medical treatment expenses, and you can customize your policy as per your healthcare needs. So, why wait when you can keep yourself and your family covered with family health insurance to meet your medical needs.
Here are 5 reasons why buying health policy in your 30s is a sensible decision -
1. Lower Premium
If you buy a health insurance policy early, you will have to pay less for your policy. Premiums for a health policy increase as you age; that’s because of the associated risk increases. Premiums for health plans are determined by the age, medical history, city of residence, etc. of the insured. So, buying a health plan early helps you save on the premiums that you pay.
2. Financial Security
When you buy health insurance, it provides you access to healthcare facilities when you require, without
having to pay out of your pocket. That way, you can utilize your savings in a better manner. Plus, with health plans, you can also claim tax exemptions on the premiums that you pay for your insurance policy under section 80D.
3. Paradigm Shift in Lifestyle
Recently, there has been a drastic change in our lifestyle. Hectic work schedules, no time for exercise
and sleep, fast food, etc. have made us prone to health issues, Further, we ignore early signs and
symptoms of diseases which later lead to serious health disorders.
4. Early Incidence of Health Problems
Changing lifestyles have affected our lives negatively, and have led to an increase in early incidence of several critical health disorders. To encourage a healthy lifestyle, health insurance plans offer annual health checks ups.
5. Assorted Benefits of Buying Early
When you buy a health plan, there are certain requirements to be met to enjoy all the benefits. For instance, you will have to pass through a waiting period of about 3 or 4 years in order to get coverage for the pre-existing diseases that you have. And at a young age, you might not require these benefits immediately, but, at an older age, you might need them instantly. Therefore, when you buy a policy early, you can avail of better benefits and also make full use of the policy.
When to Buy Health Insurance?
There is a common confusion among people about ‘the right age to buy a health insurance policy’. Truth be told, there’s no right age to buy one. But, the sooner you buy the better it is; by buying health insurance at an early age, you can access better benefits at better premiums.
To achieve financial security in your life, you need to have savings, and in addition to it, you need to have insurance. If a medical emergency were to occur, you would end up digging into your savings which can obviously be utilized in a better manner. Hence, it is wise to buy health insurance as soon as possible. There are different health insurance plans, such as individual, family health insurance, critical illness insurance, etc. Identify your healthcare needs, and buy accordingly.
Read more to understand how to claim tax benefit for health insurance
**To understand exactly about the policy coverage, exclusions etc read the Policy Wordings carefully.**