Why Should you Buy a Health Insurance Policy before 30?

The paradigm shift in our lifestyle has made us prone to a wide range of health disorders. Long-distance travel to work, busy work schedules, next to no physical exercise, wrong eating habits, adulteration in food, and rising pollution levels have increased our risk of developing health problems at a young age. Additionally, increasing health care costs further highlights the need for having a health plan. There are innumerable reasons to justify why health insurance is important during the current times. If you have a family to support, you can buy family health insurance to take care of your family’s medical needs as well.

Why Buy Health Insurance? 

When you are young and healthy, you probably won’t feel the need to buy health insurance. However, you need to be pragmatic about the fact that an illness doesn’t come informed. A medical emergency can occur anytime, and what will happen if you are not financially prepared to face it? So to all those people who ask whether you should take health insurance or not, the answer is a very simple YES.

Despite the necessity, health insurance plans are the most neglected type of insurance. Although there has been a spike in the number of people buying health plans in the past few years due to the increase in the incidence of health disorders, a health insurance policy to meet your healthcare needs is much more than just a necessity. The last thing that you would want to do is wipe off all your savings to meet your medical needs. Hence, it is very important to have health insurance to access medical facilities without any hassles.

5 reasons to buy health insurance in your 30s

A general misconception among people is that health insurance is meant only for those in their retirement ages since they are aging and are prone to many illnesses. But in reality, it is the younger generation that requires frequent medical treatments. More people in the age group of 25 to 35 years have started visiting hospitals regularly due to their sedentary lifestyle.

This is why a health insurance policy bought at the age of 30 can drastically change the way you look at life altogether by making yourself more aware and confident of the choices you may need to make in the future. Though a health Insurance policy covers your medical treatment expenses, you can also customize your policy according to your healthcare needs and keep yourself and your family covered with the necessary family health insurance to meet your medical needs. So, read on to know about the top reasons why you need to buy health insurance at the age of 30.

Top 5 Reasons to Purchase Health Insurance before 30

1. Lower Premium
2. Financial Security
3. Lifestyle changes
4. Early Incidence of Health Problems
5. Assorted Benefits of Buying Early

1. Lower Premium: If you buy a health insurance policy early, you will have to pay less for your policy. Premiums for a health policy increase as you age; that’s because the associated risk increases. Premiums for health plans are determined by the insured’s age, medical history, city of residence, etc. So, buying a health plan early helps you save on the premiums you pay as you grow over the year and reach various important life stages.
2. Financial Security: When you buy health insurance, it provides you access to top-notch healthcare facilities when you require, without having to pay out of your pocket. That way, you can utilize your savings in a better manner, which is also the reason why you need health insurance. In addition to them, with health plans, you can also claim tax exemption on the premiums that you pay for your insurance policy under section 80D.
3. Lifestyle changes: Recently, there has been a drastic change in our lifestyle. Hectic work schedules, no time for exercise and sleep, fast food, etc., have made us prone to health issues. Further, we ignore early signs and symptoms of diseases which later lead to serious health disorders. And until there is a major mental or health disorder incident, the possibility of exhaustion and breakdown is ruled out.
4. Early Incidence of Health Problems: Changing lifestyles have negatively affected our lives, leading to an increase in the early incidence of several critical health disorders. To encourage a healthy lifestyle, health insurance plans act as a buffer against rising medical costs and check probable illnesses and diseases. Moreover, some policies offer annual health checks ups and wellness programs that enhance your health in more ways than anything else.
5. Assorted Benefits of Buying Early: When you buy a health plan, certain requirements must be met to enjoy all the benefits. For instance, you will have to pass through a waiting period of about 3 or 4 years to get coverage for the pre-existing diseases that you have. And at a young age, you might not require these benefits immediately, but at an older age, you might need them instantly. Therefore, when you buy a policy early, you can avail yourself of better benefits and fully use the policy.

The right age to buy health insurance 

There is a common confusion among people about ”the right age to buy a health insurance policy. Truth be told, there’s no right age to buy one. But, the sooner you buy, the better it is; by buying health insurance at an early age, you can access better benefits at better premiums.

To achieve financial security in your life, you need to have savings, and in addition to it, you need to have insurance. If there is no health insurance policy and some medical condition is diagnosed, you would end up digging into your savings which can be utilized in a better manner. Hence, it is wise to buy health insurance as soon as possible. With different health insurance plans, such as individual, family health insurance, critical illness insurance, etc., available in the market, identify your healthcare needs, and buy accordingly