Top 5 Reasons You Should Know for Availing Health Insurance
Since the time the COVID-19 pandemic disrupted our normal lives, there has been a lot of focus on health insurance that is indeed a safe investment. Even if you are covered in a group mediclaim by your employer, you must get a separate health cover to prevent being without a policy cover when you leave the company. You can choose from the various health plans available these days as per your individual or family medical needs. Getting a policy online is an easy task. You can find health insurers, like Care Health Insurance, having a strong online presence and catering to customers with diverse insurance needs.
So, what makes health insurance a vital investment? Here are some of the primary reasons:
Increasing lifestyle-related health issues
Life is not what we knew it to be some years ago. Young adults today are increasingly leading a busy life. Factors like sedentary work routine, rising pollution levels, and unhealthy dietary habits have made them prone to lifestyle-related health problems, such as high blood pressure, diabetes, obesity, and so on. Leading a disciplined life is of utmost necessity. Health insurance with an annual medical check-up feature proves useful in keeping a check on health.
At the same time, when lifestyle factors increase the risks of illnesses and hospitalization, a health cover will provide coverage for various medical expenses one incurs.
Healthcare is getting expensive
Medical technology has seen progress, and cure is available for many complicated illnesses. However, what is alarming to note is the increasing cost of medical treatments and surgeries. If a person is hospitalized for a few days due to an illness or injury, it can lead to hefty medical bills. A medical insurance plan will reduce the stress in such unforeseen situations by covering various medical expenses. More importantly, there is a cashless hospitalization facility one can avail, and skip the process of paying hospital bills. The insurer will settle the costs as per the health policy terms and conditions.
You get comprehensive health coverage
A health policy covers various other expenses besides hospitalization. The coverage includes in-patient care, room rent, ICU charges, ambulance, domiciliary care, day care procedures, and pre and post-hospitalization stage expenses. Most health plans also cover pre-existing diseases, specified ailments, and treatments after a waiting period. In today’s pandemic situation, health plans also cover coronavirus treatment, including AYUSH treatments, which is a blessing.
You can save tax and stay financially secure
As per the Section 80D tax provisions of the Income Tax Act, a health insurance policy holder gets a tax deduction amount of up to Rs 25,000 in a year. If the person is above 60 years, the deduction amount is up to Rs 50,000. So, if you choose a family health policy covering you and your spouse, children, and parents, you can look forward to a higher deduction. The maximum deduction can go up to Rs 1 lakh if the proposer and insured members are senior citizens.
It secures your retirement years
It will become expensive and more challenging to get a health cover as a person grows older. Simply put, premium rates are lower for a person, say in his 20s or 30s, compared to a person who is above 45 years. Moreover, with age, the chances of medical conditions increase. If you get a health cover early, it could mean early completion of the waiting period. So, you can get covered for all medical treatments.
Health plans with lifelong renewability, for instance, Care Health Insurance plans, help you continue being covered in the same policy; thus, you will have the necessary financial back-up when there is an utmost need.
So, take the best step to secure your family and get a health cover today!