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When is the Right Time to Buy a Health Insurance Policy in India?

Posted On : 16 February 2021, 3 Years Ago. Health-Insurance

Illness can hit anyone at any time in their life. A medical exigency is one such situation where if you do not have adequate insurance then it could drain your financial resources. Thus, it is advisable to buy health insurance early in life as soon as you start earning. When you are young and healthy, you may not need frequent medical attention, but with the change in lifestyle, it has become very important for everyone to have health insurance in place, regardless of age or income. A health insurance policy is the ideal instrument to ensure you can receive quality medical treatment even as the costs rise astronomically in line with the latest insurance trends.

 

To buy health insurance in India is easy, but it is important to make the right choices regarding the insurance policy you wish to proceed with to ensure adequate protection at all times. If you still have questions as to when to buy health insurance, it is important to remember that the best time is now. So, stop procrastinating and purchase a plan that best suits your health care needs.

 

When to Buy a Health Insurance Policy in India?

A health insurance policy often serves as protection during times of medical emergencies. In recent times, medical treatment and other related costs, such as diagnostic tests or even hospitalization, have increased exponentially. They are slated to increase even further in line with rising inflation levels. In order to be adequately equipped to deal with such a situation as and when it arises, it is important that you buy medical insurance as early as possible.

 

Besides, read on to Know the Benefits of Buying Health Insurance Early in Life:

 

1. Financial Freedom

If you buy health insurance early in your life, you can afford to save more since your medical expenses which are often the largest expenses are taken care of. Additionally, the premiums you pay towards health insurance also help you save on taxes.

 

2. Lower Premiums

Insurers are likely to offer medical insurance policies at better premiums when the potential policyholder is younger, since their health is expected to be better too than an older person. The older you get, the higher your health insurance premiums are likely to get too as your health complications increase.

 

3. Protection from Lifestye Diseases

Our lifestyles today are much different than our previous generations experienced or could even have imagined. Our lives are more sedentary and we tend to work and travel over long hours, missing meals and often hunched over a computer screen. Such living conditions give rise to a host of lifestyle diseases, which can cause severe repercussions to your standard of living if not treated in time. Having an insurance policy in hand helps protect you from the eventuality of contracting a lifestyle disease.

 

The right time to buy a health insurance policy is right now. There is no way to predict the route our lives will take and similarly, there is no way to predict that we will not meet with any unforeseen medical emergencies. The only way to ensure that you are taking care of yourself as well as the rest of your family is by investing early on in a health insurance policy that offers you the chance to protect yourself and your family.

 

However, even as you look to buy a health insurance policy, there are several things you must consider. Here’re some of them:

 

1. Assess your Reuirements.

Before you invest in health insurance, make sure you have identified your requirements so you can pick the policy that best aligns with them.

 

2. Browse through Options

Today, you can buy medical insurance online in India. The internet has made it much easier to do a range of tasks, and this increased accessibility gives you the opportunity to browse through the plans available to you before you make a decision

 

3. Read through the Fine Print

The fine print in an insurance policy includes the inclusions and exclusions covered under the policy. Reading this document lets you understand the terms and conditions of the policy you have.

 

4. Claim Settlement Process

It is important for you to consider this factor while selecting the policy. The simpler the claim settlement process, the easier it will be for you to settle your health insurance claims.

 

Conclusion:

“The best time to do it was yesterday, the second-best time is now” Likewise, the ideal time to buy a health insurance is now. The earlier you buy, the better it for your finances. You should opt for a policy early in life so that you can pick the one that best suits you for cost-effective premiums that are bound to increase as you age. Moreover, this can save one from unnecessary financial strain during medical emergencies.

Secure your health with comprehensive insurance plans from Niva Bupa

Tell us a bit about you

Whom are you buying for ?
Myself Icon Individual
Wife Icon Husband & Wife
Family Icon Family
Enter valid name
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OTP sent Resend OTP
I authorize Niva Bupa to call me. This will override your existing registry in DNCR. I want to get my quote and policy details on WhatsApp.
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