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Health Insurance

DigiFiin Jodhpur > Health Insurance

Health Insurance

Good health is the foundation of happiness. But factors like smoking, alcohol consumption, climate change, increased population, etc. makes us more susceptible to health problems. What if you or your loved ones face a sudden medical emergency? What if you don’t have enough funds to afford the treatment? That sounds pretty scary, doesn’t it?

While no one likes thinking about the possibility of being injured or hospitalised, it is pertinent to be prepared for any scenario because the financial impact of these treatments can be huge. You should buy health insurance as soon as possible to protect yourself and your family. It acts as a cushion against these expenses.

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Benefits of Buying Medical Insurance at an Early Age

Listed below are some of the advantages of purchasing your health insurance policy early –

Diseases Can Strike Anyone

Contrary to the common belief that a health insurance policy is only essential in older age or when health concerns arise, the reality is actually different. A recent study says that approximately 500 million people are estimated to have vision problems in India. By 2030, it will affect approximately 40% of the urban youths.This is why waiting until you are older or prone to illnesses may not be the most strategic approach.

Avoiding Waiting Periods

Many health insurance plans come with waiting periods for pre-existing conditions. These waiting periods can become a hiccup when attempting to secure coverage later in life. Opting for the health insurance policy at an early stage allows you to overcome serving these waiting periods again, ensuring immediate and comprehensive coverage.

Shielding Long-Term Investments

A health insurance policy serves as a protective barrier for your long-term investments. When you have medical coverage in place, your financial investments and assets face minimal risks from unforeseen health-related needs.

Key Benefits of Health Insurance Plans

Financial Security in Uncertain Times

Life is unpredictable, and emergencies can arise anytime. With rising medical costs and inflation, health insurance is crucial for managing expenses and focusing on your health and recovery without financial stress.

Preserves Your Savings

Health insurance shields you from draining savings on medical emergencies, preserving your finances for their intended purpose. It helps manage rising healthcare costs, offering peace of mind and focusing on recovery.

Convenience Of Cashless Claim

At network hospitals, cashless claims let the insurer handle payments directly, leaving you responsible only for unapproved expenses. This process removes the need for cash and simplifies your medical billing.

Protects Your Family

A family floater health insurance policy provides coverage for your loved ones under a single sum insured, ensuring top-notch medical care for your family without worrying about high medical costs.

Combats Rising Medical Costs

India's medical inflation rates have soared to 14%, with rising treatment costs straining finances. A health insurance policy with adequate coverage shields you from high medical bills and helps manage inflation.

Enjoy Tax Benefits

Under Section 80D of the Income Tax Act, you can claim deductions on premiums for health insurance covering yourself, your spouse, children, and parents, up to specified limits.