5 Reasons to Buy Health Insurance Before 30 | Vital

Why Should You Buy Health Insurance Before Turning 30?

Posted by

When is the right time for you to buy Health Insurance? The answer to this question may seem to be too subjective but every individual must keep in mind the rising medical costs and the increasing health disorders.

The sooner you buy health insurance, the lower will be the premium that insurance companies charge you. The premium for health policies increases as you age, that’s because the associated risks increase. Health Insurance premiums are determined by age, medical history, city of residence, etc. so it is advisable and prudent enough to buy a health plan early in your life.

Five Reasons to Buy Health Insurance Before Turning 30

Here are the top 5 sensible reasons why you need to invest in health insurance.

Lower Premiums Guaranteed

Buy Health Insurance

Premiums for Health policies increase as you age. It is better to buy one for yourself early in your career so that you do not have to think about the financial burdens when it comes to availing of healthcare facilities. This helps you to streamline your budget and utilize your savings in a better manner. Plus, you can also claim your tax exemptions on the premiums.

Higher and Seamless Coverage

Buy Health Insurance

When you buy health insurance, even viral diseases are covered. Depending on the type of cover, a health policy covers you for day-care procedures to serious hospitalization. These health coverage policies are very comprehensive and you do not have to wait for surgeries and special treatments. And most of the health insurance policies offer loyalty or- no claim bonus if the customer continues with the same policy year on year.

Employee Insurance is Not Enough

Buy Health Insurance

Your group insurance cover may not be sufficient for covering bigger medical expenses. Every company today covers their employees with group insurance plans but they come with smaller cover amounts and with some restrictions. Get your health insurance plan or a top-up health cover to avail yourself of the maximum.

Lifestyle Diseases and Medical Inflation are on the Rise

Buy Health Insurance

Advanced lifestyle disorders like diabetes, obesity, etc. are the reasons why you need to get yourself insured early in your life. But in the post-pandemic world, things have become even more tricky. Today healthcare costs have exploded, right from primary care to hospitalization. It is our moral imperative to have a plan that goes beyond just regular health insurance to cover the regular expenses as well.

Avail Tax Benefits Under Section 80D

Buy Health Insurance

Health insurance allows you to get up to Rs 25,000 tax deductions under Section 80D of the Income Tax Act, 1961, every single year. This can go a long way in building your savings too.

Conclusion

Nowadays, health insurance is necessary for every individual, taking into consideration the increasing medical costs and a spurt of lifestyle diseases, and now a global pandemic. Anyone in your family can have a medical emergency at any time. This can drain an individual financially and emotionally as well. Thus, financial advisors suggest buying health insurance before you turn 30. Moreover, health insurance covers more than just your hospitalization costs. It covers additional costs like ambulance service charges, etc and some of them even cover daily treatment costs, homoeopathy, Ayurveda, and more.

close

Oh hi there đź‘‹Subscribe Now!
It’s nice to meet you.

Sign up to receive awesome content in your inbox, every month.

We don’t spam! Read our privacy policy for more info.

2 comments

  1. I think this is one of the most important pieces of information for me. And I am glad to read your article. But wanna remark on few general things, The web site style is perfect, the articles are really great!

Leave a Reply

Your email address will not be published.