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Medical Insurance: Big News! Buy Medical Insurance before the age of 35, get these five big benefits

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Medical Insurance: Big News! Buy Medical Insurance before the age of 35, get these five big benefits

Medical Insurance: The life of any person is happy when he has both health and wealth. Usually people start working after 25 years or one or two years, but sometimes they are not able to buy medical insurance. Let us know the five major advantages of buying Medical Insurance before the age of 35 years.

Medical Insurance: When it comes to living a good life, both health and wealth appear to stand first. This is the reason why Medical Insurance becomes very important after a while. A common misconception among many of us is that there is no need to worry about health insurance when we are young. However, the reality is very different from this.

According to the World Health Organization (WHO) , approximately 5.8 million people die from non-communicable diseases (NCDs). This means that one in four Indians face a fatal risk of NCDs before the age of 70 years. Non-communicable diseases include Parkinson’s disease, stroke, heart disease, cancer, diabetes, chronic kidney disease, osteoporosis, Alzheimer’s disease, cataract and many other fatal diseases. The young population is not able to protect itself from NCDs, as not all age groups are susceptible to these diseases. Some do not have facilities for its treatment. In such a situation, medical insurance becomes a great helper.

1. Low Premium

Health insurance premiums depend on several factors, including age and health risk. Younger people have a lower incidence of health risks than older people. If you choose health insurance at a young age, it reduces the premium the insurance company pays, and as a result, you can avail a health insurance policy at a lower premium.

2. Overcome the Waiting Period

All health insurance plans have different waiting periods for pre-existing diseases and some specific diseases, which usually range from 12 to 48 months. Since the health risks are comparatively less at a young age, you can easily cross the waiting period without making any claim. That is, to tell you this in simple language, suppose you already have a kidney problem, then the companies give a time period that you will be given money from the health insurance company after so many years for the treatment of this disease.

3. Corporate cover will not work

Most of the people think that the health insurance provided by their company will take care of them if they fall prey to any disease in future. In such a situation, they should know about the corporate policy once. Sometimes companies provide cover for certain limited diseases. That’s why a person should take his personal medical insurance. It is better for both the person and his family.

4. No Claim Bonus

This is an attractive feature which encourages the policyholder not to make any claims. In other words, if the policyholder does not make any claim during a policy year, the insurance company offers a certain percentage of the premium amount as No Claim Bonus, which will be added to the chosen sum assured. Since the chances of developing health problems are less at a young age, you can avail the No Claim Bonus, pool it with your existing sum assured and use it as and when you need it.

5. Motivation to be healthy

In our current lifestyle, many of us find it difficult to find time to take care of ourselves, be it physical or mental. For most people only a small effort is required which helps them to stay healthy.

 

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