Categorized | Health Insurance

buy health insurance early

People are quite familiar with a life insurance plan but very few are aware of Health Insurance which is also referred to as mediclaim. However, those who have handled Hospitalization and have had to settle a huge medical bill on their own, at any point of time in their lives would realize the importance of a health plan. Health insurance is generally kept pending as people do not appreciate its value until the need arises. In general, people try to avoid taking the pain to understand the plethora of healthcare policies that are being thrown at them by the insurance industry. People are so intimidated by the thought of evaluating insurance schemes that they often blindly depend on their companies in which they are employed to get them a health insurance.

There are various factors that you have to take care of in order to have a good health Policy protecting you for the rest of your life..The factors are given below:

1.Know your policy well
2.Compare various health policies
3.Premiums that is manageable
4.Furnish correct information about yourself
5.Take help of an insurance expert to decide which one to choose
6.Earlier you buy health insurance better it is

Since all other points are beyond the scope of this article let us look at the last point which emphasizes that earlier you buy health insurance better it is.
Why is it better to buy a health insurance early?

The insurance companies have an inclination to believe that younger people are healthier, so guided by that opinion they have developed schemes that largely favor younger people. Let us examine the above question from the insurance company’s perspective. A person at his twenties is definitely very active; less burdened and is capable of handling more stress which means he is less likely to have any lifestyle disease. A younger person is generally highly motivated which keeps him in good health thus the insurance company doesn’t have to worry about paying any medical expenses for him. Thus, when a young person applies for health insurance, the insurance company is not too concerned about finding too many details about the applicant. On the contrary, it is believed that older a person, more likely he is to fall sick, thus many insurance companies make it mandatory for people above 40 years of age to undergo medical tests. The result of the medical tests has to be within the limit set by the respective insurance company to gain eligibility for insurance.

If you are still keeping your health insurance pending then think again, it’s time to change the thought process connected to the healthcare and realize that these products are not designed for senior citizens, on the contrary they provide a financial cushion to the Insured at the time of medical emergency. A medical emergency is something which can occur to anybody at anytime, it is not dependent on age. Thus, a health insurance which is meant to provide financial support during any medical emergency has several benefits if taken early; a few of them are discussed below:

•If you buy health insurance at an early age you get secured against any sudden medical emergency.

•The Premium amount that you have to pay at an early age is far less than that you would have to pay at later stages of life.

•Majority of the Mediclaim plans come with Age Limit beyond which they do not insure a person. Thus, if you delay you might be left with a very few options and that too might turn out to be very expensive.

•If you get a health insurance at an early age there would be numerous options, you can opt for an insurance that comes with lifelong renewal scheme that will ensure you a lifelong security.