They say, ‘health is wealth’. But with the hectic work schedules, working till late hours, food contamination, soaring pollution issues and fast-paced lifestyles, health is becoming one of the major concerns in our country. You must have noted that the overall life expectancy has increased due to high quality medical facilities and at the same time, the number and type of diseases that affect the young generation is also on the rise.
Although there may be certain reasons for decline in the overall health standard, there can be nothing that denies the requirement for health insurance at a young age group. Lifetime health cover is something that you should get by the time you’re 31. Here are few reasons to start early.
1. The waiting period gets exhausted
In majority of the cases, there are waiting periods for health insurance policies which usually range from 30-90 days. This is the period during which you’re not allowed to make any claims even in a medical emergency situation. Now that you buy a policy when you’re already young, you will be at a huge benefit since the waiting period will get exhausted automatically. This waiting period is applicable for illnesses like urinary tract stones, cataract, arthritis, knee replacement and many more. People who are more than 60 years of age will have longer waiting periods.
2. Premiums will be lower
In most cases, the total amount of premium that is charged by an insurance providing company is decided by taking into account the present age of the applier. When you’re smart enough to get policy coverage by the time you’re young, you can be sure about receiving the best premium rate as per your affordability.
3. Comprehensive coverage
If you make the smart decision of purchasing health insurance policy during a young age, you will simply love the benefit of holistic and comprehensive coverage. Henceforth, you’ll enjoy greater security even when you’re employed and also post retirement.
4. No worry on age limits and duration
One more thing that is vital to note is that majority of the health insurance policies come with a ceiling on the upper age. If you get a health insurance policy while you’re at the young age, you won’t require worrying about age limits and therefore you can enjoy the benefits of health insurance for a longer span of time.
5. Tax perks
When you purchase health insurance policy at a pretty young age, you will also enjoy tax perks for a longer span of time. The premium that you pay throughout this time can be claimed for enjoying tax deduction from your total income. Hence, this is yet another way of saving money on your health insurance policy.
So, now that you are familiar with the ways in which you can buy health insurance policy at an early age and profit, what are you waiting for? Take immediate steps to get in touch with a health insurance provider.
Lara share interesting article.