What is the Right Time to Buy a Health Insurance?

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  • No one wants to get sick or hurt, but no one knows at what point of time, one needs medical help.
  • Medical costs are very high, failing to have good health insurance cover may lead to financial disaster and dis-balance of family budget. Health insurance covers these costs and many other unfortunate risks.
  • Health Insurance also known as personal insurance that ensures sudden medical treatment on account of hospitalization and other charges, you won’t need to worry about finance for the medical charges. As it protects you from unpredicted costs of medical treatment in future.
  • But whenever a person is being suggested to take a health insurance, his first reaction to this suggestion is: “Main Kon Sa Kabhi Bimaar Hua Hu, Mere Ghar Main to Sab Theek Hai”.
  • One should take into consideration number of family members, their age or illness if any, before buying a health insurance.
  • One may choose such health insurance plans which covers doctor and hospital charges, pregnancy treatments, mental health whether pre-existing or futuristic.
  • If one is single, then go for lower deductible premiums plans and good pay out in future.
  • One should buy medical policy cover at young age and when is free from any medical complications as this Insurance policy would resultantly be cost efficient. As the premiums is lower in comparison to a policy purchased at an old age.
  • The medical plans are generally high for covering old age people as there arose health issues in old age and the health insurance companies imposed pre-existing conditions for covering those issues.
  • Many medical Insurance companies provides upper age limit for buying a health insurance cover. Hence it would be more profitable to buy a Health Insurance plan at an early age.
  • One can also get cumulative bonus in case of no claim during the whole period of policy.
  • One can get Tax exemption under section 80 D of Income tax Act as buying Medical Insurance policy is tax saver.

It is an old saying that the right time to buy health insurance is “YESTERDAY”

One should consider his/her medical complications and financial criteria only then buy a health Insurance as having a health insurance will ensure easy and less stressful medical treatment.

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