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Health Insurance for a 30-Year-Old

Posted by Royal Sundaram on 17 Sep 2020

Health Insurance for a 30-Year-Old

Being 30 is a wonderful age to be! You are getting settled in your career, and the drive to succeed and make your mark is high. Similarly, in your personal life, you may have just started a family or maybe wanting to settle down. In this age of high spirits and motivation, investing in health insurance may not seem like a priority.

Today, you are young, healthy, and doing well in life. You have fewer responsibilities and you do not feel the need for a health insurance policy. But, as you age, your responsibilities will increase. You will get married, have piles of house bills, children to take care of, etc. Also, with age, your chances of falling sick increase. Moreover, health emergencies could arise at any time. In such situations, what you need is some hope and a reliable health insurance that can shield you against all odds.

Benefits of Health Insurance for 30-Year-Old

There are many advantages to buying a health insurance plan at a young age:

  • Reduced premiums: Health insurance companies attach less risk to younger individuals. Hence, when you are younger and healthy, you are likely to pay a lower premium for your health policy. Also affordable health insurance like the Arogya Sanjeevani Policy by Royal Sundaram provides exhaustive covers for 30-year-olds, starting at as low as ₹7 per/day.
  • Exhaustive coverage: When you have your whole life ahead of you, it is good to be secure and then leave it to chance. An individual health insurance coverage provides you with protection against many ailments, including diabetes, kidney failure, heart problems, cancer, etc. These problems usually begin around the age of 35. So, if you buy insurance at 30 years, you virtually safeguard yourself from various life-threatening issues.
    With Royal Sundaram’s Arogya Sanjeevani Policy, you can get financial assistance for pre and-post-hospitalisation expenses, cataract treatment, modern/new-age treatments, etc. The policy also covers alternative treatments under Ayurveda, Unani, Yoga, etc.
  • Smaller waiting period: In a health insurance cover, usually policyholders have to wait for some time (a few months to years) to be eligible for specific benefits. These include maternity benefits, coverage for pre-existing conditions, coverage for heart issues, etc. But when you buy a health cover at 30, you can pass the waiting period hassle-free. By the time you would need those specific covers, they would already be a part of the policy.
  • Lifetime renewability: When you buy a health cover at an older age, you have to follow several caveats, like multiple medical tests. Additionally, there could be an upper age limit for the policy. But when you invest in health insurance when young, you can opt for lifetime renewability, and ensure that you can avail exhaustive coverage. Health insurance policies by Royal Sundaram can be bought and renewed instantly without any paperwork.
  • Cumulative bonus: The best insurers offer a cumulative bonus for every claim-free year, known as ‘No Claim Bonus’. So, when you buy health cover when young, you have higher chances to earn a cumulative bonus because you could get through a year without making a claim. This will help increase your coverage amount, which will be beneficial for the later years. Policies, such as Arogya Sanjeevani Policy by Royal Sundaram, reward you by increasing coverage by 5% for every no-claim year.
  • Tax benefits for a longer period: Health insurance premiums are exempt under Section 80D of the Income Tax Act, 1961. There is a different quantum of deductions for separate policies – individual health insurance, family floater cover, senior citizens, insurance of parents, etc.

How to Choose the Perfect Policy for Your Needs?

That said, with so many companies in the market, it can be difficult to choose the right health insurance. Here are quick tricks that can help you find a health plan that best fits your needs:

  • Choose a plan with maximum cover and the highest amount for treatment.
  • If you have a family, choose a family floater plan instead of individual health insurance. You can also opt for combined individual and family floater plans, like Lifeline by Royal Sundaram.
  • Be careful when defining the sum assured. Ensure the sum is enough to cover your martial needs, age-related issues, etc.
  • Opt for health insurance with a least waiting period for pre-existing illness and other treatments.
  • Take a plan that offers maximum age renewal.
  • Always select an insurer with a high-claim-settlement ratio. This will determine how easily your health policy claims will be paid.
  • Choose health insurance that has a large hospital network to avail cashless treatments.
  • Compare premiums of different plans. Choose the affordable health insurance plans like Arogya Sanjeevani Policy by Royal Sundaram that provides comprehensive coverage at pocket-friendly premiums.

Buying a health insurance cover at the age of 30 will provide you with a host of advantages. Moreover, by keeping these easy tricks in mind, you can be sure to find a plan that secures your future well.

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