Why you need to buy a health insurance coverage early in your life

As you grow old your responsibilities increase and the free cash in hand reduces. This will never be the case in your 20s. So, getting the right health plan at a young age is beneficial and you can eventually add your family or spouse to the plan, when you get married. The health insurance in Mumbai or any other cities in India gives you ample coverage against common ailments and hospitalization costs. This offers you a financial cushion and you know there is a stream of cash to fall back on in case you feel ill.

Further, take a look at the other reasons why you need to buy medical insurance plans in your youth.

Give waiting period a miss
Generally, your health insurance policy will come with a waiting period ranging from 30 to 90 days. This is the period during which you cannot make any claims even if you have a medical emergency. So, when you buy a health insurance policy at a young age, then you are at a big advantage. This is because at this age facing ailments is a bleak consequence and you would consume the waiting period without any anxieties. Moreover, there is a waiting period for certain ailments too, such as cataract, urinary tract stones, knee replacements, arthritis and such diseases. When taking your health plan, ask your insurer to declare their list of ailments, which have a waiting period. However, irrespective of what they specify, it will be easier for you to tackle the waiting period stress-free at a younger age as compared to when you do not have age by your side.

Get a bigger policy on low premium
With age by your side, getting a health insurance coverage that is comprehensive and holistic, covering every aspect of your health is easy. Moreover, you can buy the health plan on lower premium as compared to someone elder to you. All this because, you have no ailments or noticeable health problems to show, which makes buying a comprehensive cover easy. Along with this, since insurance slabs are decided basis age, so when you opt for a policy at a young age, you can avail it at a lower premium. So, research thoroughly, and talk to the best insurance agent in Mumbai to get a plan that provides all-round coverage.

Enjoy bonus for a longer duration
A good health insurance not only offers adequate coverage, but it gives you access to ‘no claims bonus’ in the absence of any claims in the preceding year of a policy term. This means, if you buy a health insurance policy when you are young, you can avail a bigger amount of cumulative bonus every year you renew your policy. With time if the bonus accumulated increases your coverage amount it will prove to be an advantage at the later stages of life. Especially post retirement, when you will need a bigger cash for medical expenses to fall back on, in the absence of regular income.

What are the types of health insurance plans you can buy?

  • Individual Health Insurance
  • Family Health Insurance
  • Critical Illness Insurance
  • Senior Citizen Health Insurance
  • Top Up Health Insurance
  • Hospital Daily Cash
  • Personal Accident Insurance
  • Mediclaim
  • Group Health Insurance
  • Disease-Specific

Depending on your specific need and the reason for choosing health insurance, you can determine the type of policy you would want to purchase and maintain in the long-term. These main types of health insurance will help you tackle the rising medical costs with ease, without having to worry.

These thoughts set the pivot for you to plan right, approach Akshar – best insurance agent in Mumbai and talk to us about your thoughts and plans to allow us to guide you properly. We are a team who holds you at the core of all decision making. We do not sell you policies or wait for you to suffer with claim settlement. Rather, we are always looking forward to discussing with you to give you the right plan on a tailormade premium that sits well with you. Because we know, unless you can pay the premium with ease, it will not be a regular practice.

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