We are living in the times where the risk of life-style diseases is increasing day by day. According to various reports, life-style diseases are responsible for one out of four deaths in India. Good health is one of life’s greatest pursuits in this time. Taking a healthy diet and following a comprehensive exercise routine could definitely keep you away from numerous diseases. However, sometimes due to hereditary reasons and increasing age, the chances of developing diseases increase. These treatment can potentially drain your finances as the costs may range in lakhs and crores.
A health insurance is one great way to protect your finances from the heavy expenses of medical treatments today. Health insurance plan is offered by insurance providers to protect you financially during serious health issues and emergencies. Increasing stress levels and growing medical costs has made it necessary to opt for a health insurance plan in India.
Here are some facts, which makes health insurance to be a critical for every Indian.
Increasing Lifestyle Risks
Looking at the rise in lifestyle diseases around the country, you never know when you or your family member contract. Some of the most common lifestyle diseases include cardiovascular diseases (CVD), high blood pressure, obesity, stroke, cancer, etc. As per global data, India ranks number one in the number of heart patients, with more than million people suffering some or the other heart related health issue. Hence, it is vital to have a financial security under the name of health insurance policy.
The cost of medical treatments is in India is seeing an approximate rise of 10-15 percent every year. Therefore, it is important to secure your future with a concrete health insurance policy. This will definitely provide you the benefits of modern healthcare facilities and your insurer will bear the medication and hospital charges within the permissible limits of your health insurance.
Life is full of uncertainty and nobody has a complete control of it. While you can’t plan your life completely, you can make smart provisions to sail through difficult challenges. The premium paid towards health insurance policy from a recognised organisation reduces your tax liability under section 80D. You can use this saving to fulfil other life goals.
Your Employer’s Insurance is Never Enough
Many working professionals may think that they have an adequate employer’s healthcare benefit. However, you need to understand that workplace health care benefits need to be supplemented with a separate health insurance policy because the employer- sponsored health insurance will offer only limited customisation and it might not cover all of the critical illnesses. Also, the plan might not continue once you leave the job. When the coverage under your group plan terminates at your retirement, buying a new health insurance may turn out to be costlier than renewing an in-force individual health policy.
Lesser Premium at Younger Age
Many people are unaware of buying a health insurance plan at young age. I you buy a health insurance policy at younger age, your premiums will be considerably low. Apart from that, it is easier for a younger person to get away through waiting period without any issues.