5 Reasons Why You Need To Buy Health Insurance


With rising costs, access to high-quality medical facilities and hospitalisation fees can be difficult financially. Individuals are beginning to realise how important having a solid health insurance coverage is. In addition to the apparent advantage of caring for your loved ones with financial security, having a health insurance plan is quite helpful for fighting the inflation of medical costs.*

Here are five important reasons why you should think about purchasing health cover right away:

To combat lifestyle-related disorders:

The prevalence of lifestyle diseases is increasing, particularly among those under 45. Diabetes, obesity, lung issues, heart disease, and other conditions 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.

While taking precautions can help prevent and control chronic diseases, dealing with an unexpected situation financially can be difficult. Investing 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.

To protect your loved ones

Instead of purchasing separate plans for each family member, you can choose to cover everyone under the same policy when searching for the appropriate health insurance plan. Take into account your dependent children and ageing parents, who are probably more susceptible to ailments.*

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 costs are also steadily rising. If you are unprepared, all of them could burden your budget significantly. You can avoid the burden of medical inflation and choose high-quality care without worrying about the expense by paying a reasonably priced annual health insurance premium.*

 To keep your savings safe.

While dealing with a sudden sickness 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 a good health cover without using all your money. Some insurance companies offer cashless care, so you won’t need to be concerned about reimbursements. Your investments can be used for their intended purposes, such as retirement, property ownership, and raising a family. Health insurance also entitles you to tax advantages, which boosts your savings even more.*,**

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 may 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 can benefit from having comprehensive coverage that may be helpful if you become unwell later in life because this may expire while you are still young and healthy.

In today’s fast-paced world, having health insurance is a must-have requirement. It is essential to safeguard your loved ones and yourself from any circumstance that can leave you unable to support yourself financially. This is because these products, among other things, cover daycare procedures, medical care at a large network of hospitals, pre- and post-hospitalisation charges, and even your treatment for mental illness. There are various types of health insurance. Do your research before you decide on a health insurance plan that meets your needs.*

* 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.

# Visit the official website of IRDAI for further details.

## 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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