Is it necessary to buy a health insurance?

We all go to the gym, do yoga, consult dietitians, take part in fitness programs,  get regular checkups and what not. All these are sort of investments which are done by us from the optimistic view towards health. But sometimes all of us need to be a bit of a pessimist and think of the negative aspects and should build a way out from them if we face them in the future.

Accidents, ailments all these don’t give us a prior notice before visiting us. They can happen at any point in time. And today with the degrading environmental conditions, all of us are susceptible to internal ailments. A health insurance protects us financially in such hard times. In this process, you need to buy a health insurance policy from a company according to your needs and convenience. You have to pay the required premiums and  meet the other terms and conditions as laid down by the company. In exchange you will get a health insurance, that is a financial support against all the expenses incurred for the medical treatments, checkups and hospitalization. Hence, it is obviously necessary to buy a health insurance for a person in order to protect themselves against financial setbacks caused by health issues and treatments. All the benefits offered under a health insurance are tax free.

Key reasons why you should buy a health insurance early

  1. With increasing age the premium cost of health insurance goes up, hence it will be a wise decision to buy a health insurance early to avoid extra costs.
  2. Risk of health problems has gone up with the degrading environmental conditions as well as with the change in lifestyle of people.
  3. Every health insurance has a maturity date i.e. 1, 2 or 3 years and thereby renewing it on time allows you to enjoy the complete benefits.
  4. Due to the increasing cost of treatments, your employee health cover may not be sufficient.
  5. Buying a health insurance early helps you to plan your financial conditions properly.

Steps to buying a health insurance

Choosing your health insurance first-

You should consider a few things before choosing the ideal health insurance.

  1. It should be affordable and should fit your financial condition.
  2. It should have affordable premiums and long term benefits.
  3. It should cover expenses like inpatient hospitalization, day care treatments, ambulance charges,  doctor visits, checkups, blood tests, medicines, etc.
  4. It should not have unreasonable clauses on you and have hidden costs or interests.
  5. It should be providing cashless financial benefits and cover critical illnesses such as heart attack, stroke, organ failures etc.
  6. You should also check the company history and learn about the company you are going to buy your health insurance from.

Once you have fixed the ideal health insurance for your family or for yourself, you should compare the policies of various companies to choose the correct and the most beneficial one. You also have the option of going online on various insurance comparing platforms, who will do this work for you according to your needs and convenience.  

And last but not the least, read all the terms and conditions of the policy should be and understand all the features and benefits before signing on their contract. You will need to provide your identity proof address proof, age proof, health checkup report in some cases to confirm your health status for buying the chosen  health insurance plan.