Health Insurance Plans

pays for your hospital bills for diagnostics, surgery etc.

I want to insure
{{adulterrortext}} {{childerrortext}}
With date of birth
/ / Enter Correct Age(Min 18 yrs)
Where eldest member is
Male Female
Type/Select City
Select a city from list
Living in
{{item.cityname}} {{citymatch}} Select a city from list
Mobile No.
Please enter valid mobile no.

How Your Health Insurance Premium Affects With Age!

| |

Health insurance is sector that has been gaining more importance in the past few years with the increase in health care costs, increasing incidence health issues in youth, and problems of hygiene and sanitation in India.

Health insurance plan mainly provides for inpatient hospitalization. There are additional top up plans like hospital cash, Critical Illness plans and others. Though Health Insurance is expensive, there are methods of saving money on health insurance. One of the important ways is to invest early.

There are many benefits when you buy health Policy at a young age.

1. The insurance Premium increases with age. If a person invests in health Claim in his early 20s, for instance, he will save a lot more on the premium than if he were to make the move in his 30s or 40s.

2. When a person starts his career, he is in a better position to pay the premium – this may not be the case when he is older, as financial responsibilities accumulate with increase in age.

3. As the age progresses, one is more susceptible to health problems. This may be a prohibitive factor in purchasing a health plan. This may make individuals ineligible to buy a health plan due to a pre existing disease.

4. Health related expenses go up with age, as the chances of health related problems tend to grow higher. This may prevent a person from investing in health insurance simply because they may not be in a position to afford it.

5. There may be upper Age Limit for different health policies, which could prevent a person from gaining any benefit from the policy, if they were to buy it at later point in their life.

6. When a person invests in health plan early, they could avail cumulative Bonus on renewal of the policy without placing an insurance claim.

7. The health plan will offer a comprehensive Coverage if taken when the individual is still young. The same benefits may not be available when they take a policy much later in life.

8. The person can also claim a Tax Benefit as a deduction from his income under 80(D) of Income Tax Act. This will be a saving during working years, especially if the investment comes early.

9. Last but not the least, most employers provide a health cover. This is a great advantage for young people as they can save much more on the premium as well, along with getting all the benefits of a health claim