What Is The Right Age To Buy Health Insurance?

‘I can do that tomorrow’

‘Oh, there’s still time for that’

Whether it is about financial planning or something as simple as pursuing a hobby, you may have often come across these words. That is because we live with the assumption that life is long and we have ample time to accomplish tasks. The same attitude prevails when it comes to getting health insurance. No wonder, a huge 56%* (Source Livemint) of Indians have no health coverage.

We must not forget that uncertainties can strike any time, resulting in adverse consequences. Plus, in times, when health conditions like cancer, hypertension, diabetes, kidney failures, cardiac arrest, etc. are on a rise, it is prudent to secure yourself and your family from the financial crisis with a health insurance policy. And, if you are wondering about the right age to buy one, then it is now. In fact, getting a health cover early offers you several benefits. Let’s take a look at why you should get health insurance now:

Take Advantage Of Low Premiums

One of the advantages of getting yourself covered as soon as you can, especially at an early age is low premiums. Insurance companies calculate the premiums on the basis of the risk involved. Higher the risk, higher the premium and vice versa. At an early age, when the chance of you encountering health issues is low, you get to enjoy a low rate of premiums.

Secure Yourself From Lifestyle Diseases

How many of you spend late nights at work, get little sleep, or are dealing with anxiety? Most of you may have raised your hands. A hectic life coupled with unhealthy food habits and sedentary routines have resulted in a lot of lifestyle diseases affecting young and old alike. It is not a surprise to see a 25-year-old working professional struck with cancer or diabetes or a 50-year-old suffering from dengue today. In addition to that, the medical costs for treating these could leave you financially burdened. Having a health insurance cover allows you access to desired treatments while also saving you from the burden of rising healthcare costs.

Avail Cover For More Than Hospitalisation

Today, a mere visit to a doctor costs thousands of rupees. Now imagine the monthly medical expenses of someone suffering from a condition that needs regular visits to the doctor or surgery. Costs of treatments are skyrocketing and can easily take a toll on your finances. New-age health insurance policies are not restricted to hospitalisation, but also cover the costs of an operation and day care procedures. You can even choose policies that are specifically designed for a critical illness if needed. Having a health insurance cover could free you of the burden of these expenses on your finances and your family.

Enjoy Little To No Waiting Periods

Depending on the policy, health insurance plans come with a certain waiting period, i.e., a time that must pass before the cover can be functional. This waiting period can range from a month to 5 years. If you buy a health insurance cover with a waiting period of say 2 years at the age of 45, you not only pay high premiums but also have to bear the long waiting periods. Buying a health cover at an early age means you wait it out when you do not need a health cover. And, as a result, enjoy full benefits of the coverage when required.

Women And Health Insurance

Young women, now more than ever are going out and making a name for themselves. They work long hours, find time for the gym, and take care of their appearance. During this vibrant stage of life, health issues are the furthest from their minds. Unfortunately, the modern lifestyle is very stressful which can lead to lifestyle diseases like high blood pressure, obesity, and type 2 diabetes. Mothers too are busy pushing boundaries juggling the home, kids, and full-time jobs, all the while not sparing a thought for their own health. But, given the unpredictability of life, illness can strike at any time. Whether in their twenties, thirties, or even forties, every woman should consider buying health insurance an be prepared for any eventuality.

It takes a few minutes and clicks to safeguard your and your family’s future with a suitable health insurance policy. So, if you have not got one, it is time you do it. After all, if there is the right age to buy health insurance it is the age you are at right now!