Health Insurance

Benefits of Buying Health Insurance Before You Turn 30

Dec 01, 2021

Under the current pandemic circumstances, it simply can’t be said that only old age requires careful medical attention. There is simply no old or young differentiation now with diseases and ailments. Maybe there are variations of ailments, but diseases do not spare the young also. The past decade statistics reveal that heart diseases and diabetes have sky-rocketed at an alarming rate. These ailments have affected not only the older people but the younger generations too which includes even a small percentage of children. Therefore, in order to protect against such unforeseen calamities, it is best to take the necessary steps and precautions as early as possible.

 Nowadays, it is believed that the starting age to settle for a health insurance plan to ensure a healthy future is before turning 30. One of the most vital factors for this is that most of the comprehensive health insurance plans have a waiting period between 30 and 120 days. During this time frame, one cannot claim for any planned hospitalization or even during any unplanned medical emergency for that matter. Moreover, planned and early investment in the health insurance sector ensures lesser premiums.

Top Benefits of Buying a Health Insurance Before 30

  1. Best Price
    One of the most important factors of buying a health plan at an early age ensures lesser monthly contribution towards it. 

    If a person buys health insurance of INR 5 lakhs at the age of 25, he/she needs to spend INR 5,000. This same insurance cover cost creeps up to INR 6,000/month, once he/she’s 35. As soon this policy is bought at 45, the expenditure will rise to INR 8,000/month. This is one of the vital factors the advisors suggest to buy a plan at an early age. 

    This step helps to handle lots of emergencies, without any significant financial burden. Paying hospital bills, without having a mediclaim policy, literally affects the future for the long-term. To avoid such contingencies, invest in health insurance as early as possible.
     
  2.  Perks and Benefits
    It must be kept in mind that there are several perks and benefits involved with health insurance packages. The best of the fruits can be availed, if a careful investment is done at an early age, ideally before 30. All medical policies have a certain amount of waiting period for pre-existing illnesses or coverage for certain ailments. Therefore, the earlier the policy is bought, the earlier this waiting period will be over. So, approximate health insurance claim time will not prove to be difficult.
     
  3. Dependence on Employer Insurance
    Most of the employer insurance coverages range between INR 3 lakhs and INR 5 Lakhs. With the soaring medical expenses, this is simply not enough to cope up in case of serious emergencies. It may provide support for a couple of days in case of serious hospitalization issues. Therefore, it is best that you have a planned health insurance policy to handle any complicated contingency without disrupting the long-term future in the financial aspect.
     
  4.  Holistic Health Coverage Benefits
    It must be mentioned here that a health insurance plan not only covers hospitalization costs but OPD (out patient’s department) costs, physician’s charges too. All kinds of medical ailments are covered under health insurance schemes which includes maternity health insurance requirements too. It depends on the nature of the policy scheme whether it will cover the OPD charges, ambulance expenses, physician’s visit, etc.

    The benefits even extend up to non-medical practices like chiropractic, dental, optical, physiotherapy, etc or alternative medical treatment procedures like Homeopathy, Ayurveda, etc. While selecting a health insurance plan, you must select a single-user package. But, to meet the requirements of an extended family, a big customized cover plan will be beneficial.

 

Summary

The paradigm of lifestyle change has given rise to multiple ailments that are affecting the young and old alike. With the shooting medical expenses, the treatment costs are becoming exorbitant with the passing day. To safeguard your savings for the future, without clearing it away in a single shot because of some unprecedented medical emergencies, having a secured health insurance coverage is of utmost necessity. We have discussed above the perks and necessities of buying a health insurance policy scheme before you turn 30. The earlier the policy bought, the better coverage and benefits it guarantees.

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