Why You Should Invest in Health Insurance at an Early Age

Health is wealth. Besides living a healthy lifestyle, we should all be at guard against any medical exigencies or should prepare ourselves to face health issues that come with age. In this respect, having health insurance while young does benefit in the long run. Here are the reasons why it is wise to invest in health insurance at an early age. ~ Ed.

Why You Should Invest in Health Insurance at an Early Age

Most of us get so busy chasing the dreams that other important aspects start getting neglected. However, you can enjoy the sweet taste of success only if you are healthy.

Irrespective of age, health should not be taken for granted and should never be neglected! This is where Health Insurance can come in handy, as it provides financial backup during the time of medical emergencies.

People in their early 20’s who have ‘just stepped’ into the corporate world can become careless with their finances. Instead of spending extravagantly on materialistic things, they can start investing in a ‘near-perfect’ health insurance policy that aids in covering medical requirements without burning a hole in the pocket.

The pertinent questions are

  • “When should you start investing in a health insurance policy”
  • “Which are the best-suited health insurance plans”
  • “All of us in our family are super-fit than why should I spend on health insurance?”

The straightforward answer to these questions is “Earlier you start investing in Health Insurance, better it is for you and your family”.

In this blog, we look at how age can affect your health insurance premium and why should you invest in a good health insurance policy at an early age (preferably 20s).

3 Reasons to Invest in Health Insurance at an Early Age

If you buy health insurance when you’re young, you improve the chances of policy renewal and save on the rising premiums. Know more and in detail.

Correlation between Age and Health Insurance Premium

Most young people are healthy making them less prone to health-related risks. The chance of visiting the doctor is low due to which their health insurance premium is also low.

On the other hand, older people experience more health problems due to which their health insurance premiums are also higher.

This essentially means that it makes sense to buy a health insurance policy at an early age so that you can save on the rising premiums and gain significant benefits offered by the policy.

Age is one of the primary elements that impact the calculation of the health insurance premium, as it is directly related to the medical support that the policyholder would require.

Financial Assistance during Medical Exigencies

Unhealthy eating habits, growing stress, and many other factors can have a negative impact on your health. When you are young (and inexperienced), these factors can impact your physical as well as mental health. You never know when your health starts deteriorating due to these external factors.

Investing in a health insurance plan at a young age keeps you financially and mentally secure for the present as well as the future. Health insurance provides coverage for in-patient hospitalization, pre and post hospitalization expenses, ambulance charges, health checkups, day-care procedures, and more.

It also helps in tackling medical inflation as the costs related to hospitalization, treatment, medicines, etc. are rising at a phenomenal pace.

Improving the Chances of Policy Renewal

Few health insurance providers do not provide cover for pre-existing ailments. This is especially true if the person being insured is much older since he/she might be suffering from ailments.

This situation can be prevented if you invest in a medical insurance policy at an early age. The earlier you invest, the better are the chances of renewing the policy. Though the cap on the maximum age for policy renewal might vary (from one provider to another), the renewal might be limited to 69 to 70 years.

Earlier you invest in a suitable health insurance policy, brighter are chances for renewal. This also means that invest at an age where you are at a lower risk of suffering from serious health conditions.

Apart from individual health insurance, you can also invest in health insurance plans that cover the entire family. For example, Family Plus from Royal Sundaram General Insurance best suits large families since it offers coverage for nineteen different relations. The health insurance policy also includes benefits like NCB (No Claim Bonus), reload benefits, no restrictions on entry age, and more.

Arogya Sanjeevani Policy by Royal Sundaram General Insurance also provides coverage for AYUSH treatment, Cataract treatment, extended protection to parents & in-laws, etc. If you intend to offer health insurance to your family members, Arogya Sanjeevani Policy should be your choice!

Conclusion

Health insurance premiums can vary with age. Hence, investing in health insurance at an early age is the best gift that you can give yourself and your loved ones.

Over to you

When did you get your health insurance policy? What are your thoughts about invest in it early in your life? Please share in the comments section.

Disclosure: This is a sponsored post and the views presented are entirely of the sponsorer.