“Health is Wealth” This is the most famous and well-known slogan of the world and we also say that the most important thing in our life is Health. It is very important to have good health insurance in appropriate age and time. Health Insurance is necessary for every individual. There are other smart ways to save money, but skipping out on health insurance isn’t one of them.
Starting with health, we all know that things are changing rapidly and so does our health and its related issues. A medical emergency is unpredictable, can attack anyone, anytime regardless of gender and age and can impact an individual mentally and financially. However, adequate health insurance makes sure that you get financial coverage when you need it.
The awareness about health insurance has grown nowadays and everyone serious about their physical and financial health. The level of pollution that we are exposed to on a daily basis, the high level of stress and depression we develop, this bold make us terribly sick. Perhaps, we all need our health insured at any age.
At Which Age and time we need Health Insurance?
When we are having Good health, insurance should be bought. While health insurance may not have any particular age as a joining age but it will be very beneficial to take health insurance at an early age since the probability of a claim will be very less in the early 20s which might earn the insured a variety of benefits like the ‘ no claim bonus ‘ and additional covers at a cheaper cost.
Most of the people in their twenties feel they are healthy enough and they need not have health insurance. On the other hand, lots of people start their search for health Insurance only when they are admitted to the hospital.
There is no fixed age as such to get health insurance, but generally, it is said, “Earlier the better.”
There are such benefits about having good health insurance at an early age, which are mentioned below:
- Low Premium: When you buy health insurance in your younger age, you have a big chance of earning No-claim Bonus if you do not claim over the course of years.
- Employer Cover: If you are working in a company and covered under a group policy of that company, that coverage is beneficial but might not be enough for covering your health care expenses. If you have personal health insurance then you don’t need to be afraid of losing coverage after the job and you are able to cover your medical expenses.
- Better Deal: There is less chance of being affected by any diseases at a young age. But, if you are detected with any disease, there will be no waiting period because you have been insured in the early years of your age. Thus, getting health insurance at an early age is a better deal.
- Better Financial Planning: Buying health insurance at an early age, you do not only save a good amount of money by paying a low premium but you can also keep yourself covered from any kind of emergency which may arise in the form of sudden illness or an accident. Moreover, you also enjoy the benefit of tax exemption.
In a Nutshell
Hence, it is important to have health insurance at an early age. You can cover your family members in a family health insurance plan. If you buy individual health insurance coverage for each family member, it will cost you a bomb. A family-floater plan will be more economical for the multiple needs of your family. So protect yourselves with better health insurance.