Life is unpredictable and we know this is a fact. Elders say, “Hum sirf ek acche kal ki tayyari kar sakte hain aur ache se jivan jee sakte hain”. We can’t rule destiny when it comes to illness but yes we can maintain a healthy lifestyle.
India has 65% of the population below the age of 35 years. And this is the large chunk that is prone to falling sick due to their poor lifestyle. Though unpleasant, it is common to hear poor health status and sufferings of younger generations.
The reality gets more devastating when you are ill and your family is left to face the brunt of not only a loss of your health but also financial crunch. Hence, you should consider buying an Family health insurance policy before you turn 30.
Here is why to consider buying health insurance at a young age
Illness does not knock with age: Illness does not always knock when you get old. Some times, you don’t even know that you have acquired some dreadful disease. In such a case, a health insurance policy will prevent an impact on your savings. Hence, buying a policy before 30 years will be wise.
Premium is lower at a young age: At the age of 29 years the premium for a Sum Insured of Rs.5 lakhs, you pay will be around Rs.3184/-. But when you age 36 the premium for Rs.5 lakhs will be around Rs.3826/-. This simply implies that when you are young and buy a health policy, the premium amount you pay is less than what you would pay after ageing.
Benefits that accumulate: You cannot predict any unfortunate event but can guess a probability that it will be low when you are young. For each claim-free year, the bonus will be added under the policy. By the time you would need the health insurance policy to play, you will have a decent benefit earned that adds to the Sum Insured.
Lifestyle-related illness has increased: You are just 25 or less than 30 years, it is your first job which keeps you engrossed in shuttling between office and home. You hardly have time for any physical activity. Gradually, you may suffer from some lifestyle borne diseases like blood pressure, diabetes, thyroid, and others. To avoid undue expenses, it will be good to buy a health insurance policy well in time before it gets too late.
Group Health Insurance Policy is not enough: If you are working with a company, then you must be covered under a Group Health Insurance Policy. But the benefits of this policy will cease to end when you leave the company. Having an individual cover for yourself will be beneficial to avoid being uncovered even for a day.
Considering the Claim Facts: As per a source, claims for neoplasms, metabolic diseases, nervous system-related diseases, and a few others are highest in the people of the age group of 19-35 years. When the claim figures represent a noteworthy figure, it is wise of you to buy a health policy when you are less than 30 years.
Keep in mind the future costs: Some diseases like cancer and heart ailments are on the rise. Not only this, but their treatment cost is also escalating. You should consider this unavoidable fact and buy a health policy when you are young for less than 30 years.
Tax Benefit: If you buy a health insurance policy, you get some rebate in your Income Tax Return under Section 80 D. So if you have got your job at the age lesser than 30 years, it will be a saving of your income.
No hassles of Waiting Period: Most of the health insurance policies available in India have a waiting period. The waiting period may last from some days to some years for specific diseases. During this period, you cannot make a claim as it will not be admissible at all. Buying a health policy when you are below 30 years, will help you get over with this waiting period as you are not prone to diseases when young.
Complete Coverage and no excuse for pre-existing diseases: A health insurance policy covers pre-existing diseases(Like diabetes) with very long waiting periods and may cost you a higher premium. But when young you might not have a list of PEDs. Gradually, as you continue the renewal of policy for years, you get the widest cover possible for the later years of life.
You must read here many reasons that may compel you to buy a health insurance policy for you. But the fact is that a time of distress does not wait for anyone. The sooner you bear this in your mind, the better it will be.