Health Insurance is an Investment for Your Future

 

If you are young, healthy and hearty, then buying a health insurance can prove to be really easy for your pockets. You get a lot of benefits including a long coverage period, low premiums, a higher sum assured and much more. Generally, an individual's age and health condition are the deciding factors for the calculation of health insurance premium. "The younger and healthier the applicant, the lower is the premium amount." Surely, there are numerous reasons which prove that buying a health insurance plan at a younger age is a smart decision.​

 

Here are some obvious reasons that can push you to buy a health insurance policy-

 

Low Premium-

The premium of a health insurance plan is much lower when you are young. Let's understand this with an example- At the age of 25, you can have a cover of Rs. 3 lacs at a premium of just Rs. 5,546. As time passes by, our immune system weakens, and we might need a cover of a greater sum insured. If you buy a cover of Rs. 9 lacs at the age of 50, then the premium amount gets almost tripled i.e. Rs. 14,856. Hence it is advised to buy a health insurance policy at a young age.

Higher Chances of Policy Issuance-

In India, if you have any medical history, it's difficult to get a health insurance policy. In case an applicant gets diagnosed with life threatening diseases such as cancer or heart ailments then the health insurance company can reject his application or can charge higher rates of premium. However, for a person of young agethere are least chances of an application getting rejected, as they are less prone to such diseases.

Tax Benefits-

Health insurance is one of the best ways to save tax under Section 80D of the Income Tax Act, 1961. You can avail tax benefits for a longer period if you buy a health insurance plan at a young age.

Investment-

If you buy a health insurance policy at a young age, it's likely that you will get the best deal and your policy will be approved without any problem. The basic hospitalization costs have seen a spike of more than 10% in a decade. Hence, it makes sense to stay safe with a sound insurance plan.

No Waiting Period-

If you invest in health insurance at a younger age, when you're still hale and hearty, then the waiting period wouldn't hurt so much and you will be in a better position to make claims without any conditions stipulated by the insurer.

Bonus Offered-

If a policyholder doesn't raise a claim in the previous year of his policy term, then he/she gets a no claim bonus from the insurer as a reward. Buying a health insurance policy at an early age can get you a cumulative bonus discount, because most likely a young policyholder will renew his policy every year.

Availability of Better and Wider Options-

At a young age you can select the best health insurance plan from the wider and better available options. There's also a chance you can get a benefit of lifetime renewal at a young age.​

 

Importance of Health Insurance in India

 

With the exponential upsurge in health care costs, it has become imperative for everyone to look for health insurance plans and be covered under a good health insurance policy. A health insurance policy safeguards you and your family against the risk of a sudden hospitalisation and all the related expenses. It is the only way by which you can escape the financial burden of an uninvited surgery or illness.​

As one of the leading Health Insurance companies in India, Reliance General Insurance understands these concerns and offers excellent benefits with its individual health insurance plans as well as family floater medical insurance plans. Safeguard your entire family's health by purchasing our family floater mediclaim policy named Reliance HealthGain policy. In case your policy has expired, you can renew your Health Insurance policy in a matter of minutes. Buy a mediclaim policy for your entire family to keep the risk of a financial tragedy at bay.

In addition, to get the most affordable health insurance plan, ensure you compare health insurance policies that suit your needs as well as your budget. Hence, stay ahead of all the healthcare expenses by purchasing Reliance Health Insurance policy now! Additionally, we also offer Personal Accident Insurance which takes care of your family in case of your accidental death or disablement.