Many of us are so busy in our lifestyle and wealth creation that we often forget the need for having a health protection. A smart investment towards safeguarding our health is very important.
Most people overlook investing in insurance as they boast to have coverage, thanks to the health insurance policies provided by the companies they work for. Some others trust God and hope and believe they will never need a health insurance policy. However, the fact is future is unforeseen and nobody can predict when disaster strikes.
Hence, it is important you invest in a policy from reputable companies such as Oriental Health Insurance to come to your aid in case you encounter with a medical emergency.
Let us now have a look at the 5 reasons to have health insurance policy.
1. Avoid Medical Tests:
If you are planning to buy an insurance policy after you turn 50, most insurance companies ask applicants to go in for a mandatory medical check-up. Most of us at that age have minor anomalies and invariably pre-existing conditions that probably would not be covered by health insurance.
In fact, such factors load up your premium and hence, it is better you opt for a health insurance policy at an early age. If any illness or condition occurs later in life, those are covered by the insurance policy.
2. Lower Premium:
Taking a health insurance policy at a young age has another benefit that is low premium. Most of the premiums are very low when the age of the insurer is less. The premiums tend to increase as you grow older as age-related issues crop up. So, act fast! Compare plans from various insurance companies and you will see this pattern in most of them.
3. No Claim Benefits:
Investing in an insurance policy when you are young and healthy has more than one benefit. You can avail no claim benefits for the years that you do not use the insurance. This adds to your coverage and when you fall sick, you will not have to worry about how to handle the big, fat medical bills!
You no longer need to spend several hours talking to an agent or visiting the office of an insurance company to purchase your health insurance policy. Most companies offer attractive policies with various benefits at very low premiums. They can be bought online via the company’s official website or third-party sites that offer more deals and discounts.
The entire documentation takes place online and you never have to visit the office of the insurance provider even if you want to claim or renew your insurance policy.
Avail Tax Benefits:
When you invest in a health insurance policy, you get to save taxes on the premium you pay. As per the section 80D, you can save up to INR 40,000 per annum on the insurance premiums paid. This tax redemption can prove beneficial to you, especially if you are in a higher earning bracket.
Do not neglect your health. It is only when you are healthy; you care about yourself and your family. So, if you haven’t yet taken a health insurance policy, purchase one online right away!
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