As the caption states, why haven’t you bought your health insurance yet? If you can avail insurance on things like your car, your house, etc then insuring yourself also is equally important.
While everyone's quest is to consistently be in good health and it is equally important to know that no one plans to fall sick or get hurt and most of it happens unannounced.
At some point in anyone’s life, medical care is needed and if one isn’t prepared it will take a toll on your mental well being along with burning a hole in your pocket.
Here are some of the reasons why you should get yourself a Health Insurance plan NOW!
Protect your Finances
Most of us are aware of the rising costs at hospitals, costly medicines, etc. With prices rising every day in the health sector, most of the population can’t afford to pay for their family’s health care or be it even their own. The added task of arranging funds to get the treatment done will be discarded since you are insured. With an insurance policy, depending on the inclusions, a majority of costs are covered. This reduces the amount from rapidly depleting from your savings.
Income tax benefits
Payments made towards health insurance premiums are also eligible for tax deductions under section 80D of the Indian Income Tax Act. Individuals up to 60 years of age can claim a deduction of up to Rs 25,000 for the health insurance premium paid for themselves, or for their spouse or children. One can also claim another Rs 50,000 as a deduction if you buy health insurance for your parents aged 60 years and above. This deduction will be available with respect to payments towards annual premiums on the health insurance policy, or preventive health check-up, of a senior citizen, or medical expenditure in respect of every senior citizen. Please do check the details before availing so that you are completely aware of the pros and cons.
The most common practices of insurance policies are that they are cashless treatments and the insurance company directly settles the bills with the hospital. In such scenarios of policies, there is a network of hospitals where the insured can get treated. This makes quality medical treatment available for the insured without the hassle of paying for treatment expenses.
Insurance policy has a double advantage it not only provides coverage against hospitalisation expenses but also covers other medical costs that may be incurred prior, during, and subsequent to the course of treatment.
A few that will be covered under the policies are as follows, doctor’s consultation fees, diagnosis test fees, ambulance charges, operation theatre charges, room rent, post-hospitalisation consultations, daycare treatments such as cataract operations that do not require hospitalisation, domiciliary hospitalisation, vaccinations, evacuation, etc. With the industry growing by bounds, Health Insurance policies are evolving to include more and more items relevant to the insured
With an insurance policy, depending on the inclusions, a majority of costs are covered. This reduces the amount spent out of pocket by the person insured.
Today there is a huge shift in lifestyle choices and there are a plethora of reasons to have a health insurance policy in place. The tectonic shift in our lifestyle and the demands to maintain a work and social life balance has made us prone to a wide range of health disorders.
Commuting, hectic work schedules, wrong eating habits, quality of food, and rising levels of pollution have increased the risk of developing health problems.
To protect yourself and your family, its best to be insured
There is a common dilemma about the right age to buy Health Insurance policy, the common question is when? The answer is there is no right age if you buy one when you are younger the policy amount is much lesser compared to when you are older. Start young and get insured now!