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7 Reasons to Buy Health Insurance Before you Turn 30 Research Team | Posted On Tuesday, September 03,2019, 03:30 PM

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7 Reasons to Buy Health Insurance Before you Turn 30



It is important to buy a health insurance plan to safeguard your health at any stage in life. However, buying a health insurance plan at an early age has its benefits. Getting health insurance is a great idea before turning 30, here’s why:

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7 Reasons to Buy Health Insurance Before you Turn 30

1. Buy Early to Get the Best Price:

Age is one of the most crucial factors on which insurance premiums depend. The premium rates after you pass the age of 30 years; generally go up.

For example, if a 25-year-old opts for a health insurance plan with coverage of Rs 5 lakhs, he would have to pay an annual premium of Rs 5,000 excluding the riders, whereas a 35-year-old will have to pay an annual premium of Rs 6,000 for the same cover and a person of 40 years will have to shell out an annual premium of Rs 8,000 to buy the health insurance policy with Rs 5 Lakh coverage. You must buy a health insurance plan early; to avail the best coverage at affordable premiums.

See Also: History of Health Insurance in India

2. Your Company Health Insurance is Not Sufficient:

With the ever-soaring prices of health care and medical treatment, your company’s health insurance policy may not be sufficient to address all your health needs. Your company’s health insurance plan may be inadequate to cover major illnesses or extended hospitalization.

You are not covered by employer’s health insurance, if you change your job. Buying a personal health cover is beneficial as you can customize the plan according to your requirements and address health needs as you grow older.

3. To Insure Family with Sufficient Coverage:

You can purchase a health insurance plan to cover your entire family. This can be done by availing a family floater policy at a young age. These plans come with the added advantage to cover a maximum of 6 family members to take care of hospitalization expenses.

There are some other added advantages available under a comprehensive family floater health insurance plan like day-care procedures, ambulance cover, non-hospital services like dental, optical, physiotherapy, dietary advice and so on, which are always useful to cover the youngest and the oldest members of your family. 

See Also: Health Insurance Benefits

4. A Sedentary Lifestyle has Caused Increase in Ailments:

A sedentary lifestyle, hectic work schedules and excessive consumption of junk food have lead to an increase in lifestyle disorders like obesity, high cholesterol, diabetes, orthopedic issues among young people.

A large number of young people are also suffering from stress-related disorders like high blood pressure, depression and hypertension. It is therefore imperative to insure yourself before a major health problem takes a toll on your normal life. Various health insurance plans offer annual medical check-ups for free to identify disease at an early stage.

5. To Ensure Better Financial Planning:

The health insurance policy not only takes care of your health, but also takes care of your finances. At the beginning of your career, you can save money by availing a health insurance plan. You can claim the tax benefit under Section 80D of the income tax act, 1961 on premiums paid for self + spouse + kids. This saves your hard-earned money and ensures better financial planning.

6. Buy Early to Enjoy all the Benefits:

Health insurance plans offer riders. Therefore, buying health insurance at a young age helps enjoy the rider benefits early in life. To cover critical illnesses, avail higher hospital room rent limit, avail daily hospitalization cash benefit, make sure to purchase health insurance on time.

See Also: Limitations in Health Insurance Policy

7. Unforeseen Ailments:

Most people are not aware of the benefits of health insurance and prefer to purchase the plan when they are old. 

Critical illnesses cause havoc to your finances as well as your health. Vector-borne diseases and other chronic ailments can also disrupt your finances and health. It is always better to secure your health with a health insurance plan as early as possible as it helps avail the best treatment on time and save finances from getting drained.

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