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Right Time to Buy a Health Insurance Policy

Posted by Royal Sundaram on 09 Apr 2014

As Benjamin Franklin said, “Life’s tragedy is that we get old too soon and wise too late.” Don’t let this happen when it comes to buying health insurance. Healthcare is expensive in India and during a crisis, we all deserve the best care. The only way to take care of such sudden, unexpected costs for most of us is through health  insurance.

Many people think that as old age is the time when one is prone to diseases, it might be the right time to get medical insurance as well. A good health insurance policy protects us from the sudden, unexpected costs of hospitalization or critical illnesses which would otherwise make a major dent into our savings. Medical emergency seldom comes with a prior warning and in today’s time we are exposed to many health hazards. The only best solution to manage it is by taking a comprehensive and affordable health  insurance.

Health InsuranceBenefits of Getting Health Insurance Early

If you are still wondering whether it is too early for you to get medical insurance, here are some benefits you stand to gain by acting as soon as possible:

  • Low premium: Buying health insurance at an early age will cost you less in terms of the premium. The premium amount depends on the age of the policy holder. So, the older you are, the more premium you’ll have to pay.
  • Exemption from medical checkup: Different insurance companies have different age limits for this. Most insurers exempt people below the age of 45 years from a medical check-up. This makes getting health insurance easier.
  • Bigger Bonus: Many companies offer a cumulative bonus for every claim-free year. So, if you get insurance at an early age and need it years later, you will have access to a huge bonus on the cover amount which is  a free cover.
  • Family discount: If you get medical insurance for your whole family, you can avail special discounts on premium.
  • Income Tax Exemption: Getting insurance while you are still earning will help you to take advantage of the tax relief.

Disease does not see time or age, so why should you? Get yourself insured before you have to pay for a medical emergency. Don’t miss the opportunity now and regret at leisure later.

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