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Posted by Royal Sundaram on 02 Mar 2020
Many of us don’t feel the need to buy a health plan when we are young and healthy. But, we need to understand that health problems can occur anytime and can bring you into big trouble if you are not financially sound to face it. Remember, health insurance is not a choice, it’s a necessity. Therefore, it is important to have one in place.
Here’re the 5 reasons that shows why buying a health insurance at a young age is a wise decision –
- Lower premiums – The earlier you buy your health plan, the better it is. Because age plays a very important role in determining your health insurance premium. Your health insurance increases with your age and vice versa. If you buy health insurance at an early age, then you will have to pay less premium. But, if you buy health insurance at an older age, then you will have to pay more as premium rates will be higher.
- Tax benefits –If you buy health insurance before 30, then you can enjoy tax benefits for a longer period. As it allows you to avail tax benefits on the premiums that you pay towards your policy.
- Increase in lifestyle illnesses – You don’t need to turn 50 to opt for a health insurance plan. Fast paced life coupled with lack of physical exercise, poor eating habits has led to the increase in lifestyle diseases, including cancer, lung conditions, heart ailments, etc. Thus, it is important to insure yourself on time.
- For better financial planning – Buying health insurance at an early age will not only cost you less, but will also help you plan your finances in a better way. Medical contingencies can occur at any point of time in life, thus having a health insurance plan would ensure that you are covered for medical emergencies. Also, it allows you to save tax on the premiums paid.
- Less expensive – Buying a health plan at a young age will cost you less and there are several reasons to justify this. One of the main reasons is your health. Thus, it’s beneficial to buy health insurance at a young age when you are healthy and got no serious health problems.
Time and tides waits for no one. Thus, it’s good to buy a health insurance plan as early as possible. Besides, those who are planning to buy health insurance plan online, choose to go with Royal Sundaram. We offer comprehensive health plans for you and your family at affordable rates.
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