Most people have now started to consider health insurance as essential.
This unprecedented state of Covid-19 Pandemic has not only affected human life in terms of health and life but has also adversely affected businesses, businesses and economies globally. Due to coronavirus and subsequent economic crisis, awareness on health insurance has increased due to health crisis. Given the current healthcare scenario and huge out-of-pocket expenses associated with COVID-19 treatment, most people have now begun to consider health insurance as essential. But even then, the reach of health insurance in India is not even 1 percent, which is very low compared to the global average of 7.23 percent. In today’s time, it is necessary to have health insurance when the treatments are very expensive, especially in the Corona era. Some reasons as to why a person should choose a health insurance plan can be found.
1. Combat Lifestyle Disease
- Due to inactive lifestyle, unhealthy eating habits, undisciplined life, stress, pollution, gadget addiction etc., chronic diseases have found their way into almost every Indian household.
- According to a recent report released by fitness technology company Goki, cholesterol in India has increased by 40 per cent in total, while it has increased by 135 per cent in persons under 45 years.
- The report shows that there is an almost 40 percent increase in diabetes in persons under 45 years of age and 90 percent increase in blood pressure disease among people in the same age group. Diseases like respiratory problems, diabetes, obesity and heart disease, which were earlier prevalent in the older generation, are now increasing among young people.
- Precautionary measures can help in combating these diseases, but a single unfortunate event can derail you financially. In such a situation, the option of a health policy with regular medical tests can not only help in early detection of these diseases but also makes care for increased medical expenses easier. At least you are not worried about the cost.
2. Protect your family
- While searching for the ideal health insurance plan, you can choose to protect your entire family under the same policy instead of buying different policies.
- Suitable health cover covering the entire family can be taken for this, along with the elderly parents and children also get the best medical treatment.
- After thorough investigation, make sure that you buy a plan that provides comprehensive coverage by taking an unbiased opinion from the experts.
3. Help to manage expensive treatment
Along with increasing diseases, there has been innovation and development in medical technology. Also, the cost of medicine has also increased. Medical expenses are not limited to hospitals only. The expenses for doctor’s consultation, testing, ambulance fee, operation theater fee, medicines, room rent etc. are also increasing continuously. If you are not ready enough, then all these together can put great pressure on your budget. By paying an affordable health insurance premium every year, you can avoid the cost of medical treatment even when choosing quality treatment.
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4. Saving Safety
Sudden health conditions can kill your savings. By purchasing a suitable health insurance policy, you can better manage your medical expenses without disturbing your savings. You can use these savings for your desired plans, such as buying a house, child’s education and retirement. Apart from this, health insurance helps you to take tax benefit, which further helps in increasing your savings.
It is important to pay attention to insufficient insurance cover
If you are an employer and if you already have a health insurance policy provided by your employer, reevaluate the policy benefits. See how much coverage it provides. If your current policy does not offer cover against the current diseases and potential dangers in the family, then you may face problems at the time of need.
With the cost of medical treatment increasing significantly, being assured of a large amount can help in getting better financial support. If you cannot buy a high coverage plan at this time, then you can start with a low premium and gradually increase the cover.
Benefits of taking health insurance at a young age
- If you are young and healthy, then you can take a policy at low rates and as the age increases your benefits increase. Additionally, you will be offered more detailed coverage options.
- Many policies have waiting periods that do not include coverage of pre-existing diseases. When you take a policy on being young and healthy, this period will end in your youth, which will give you the benefit of comprehensive coverage.
Source: www.financialexpress.com