9 Reasons Why Health Insurance Is Essential For Everyone (2023)

9 Reasons Why Health Insurance Is Essential For Everyone (2023)

Every person has a fundamental right to at least the most basic health amenities. It’s important for people to understand that just because they are young and healthy, they are not invincible. Anyone can experience a catastrophe at any time. You must be equipped to fight off any and all diseases.

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You need to buy a health insurance policy that will give you the coverage you need and pay all of your expenses during the treatment period in addition to being mentally and physically fit. While there may be a variety of causes for an increase in death rates and a reduction in people’s overall health, there is no denying that age groups are not a barrier to

Finance Wikki analyzed various facts about medical insurance policies in India and found there is no right time to buy a health insurance plan. The very moment you realize the importance of having a health insurance plan you should purchase it without any delay.

Why Health Insurance Is Essential For Everyone (2023)

1. Health Insurance Policies are cost-effective investments

Once you have been diagnosed with a disease, be it chronic or mild, it is quite difficult to obtain a health insurance plan then. Hence it is highly recommended to own a health insurance plan before the crisis strike. In case you do not have an Insurance plan, then it is a matter of a few days before you go bankrupt bearing the treatment charges. You should choose a health insurance plan which has a low premium amount and falls within your budget. You can view the premium amount as an investment for your future where you can retrieve double or even thrice the amount when you are stuck in any crisis.

2. The Insurance Plans Provide Free Health Checkup

Another major benefit of availing of a health insurance plan is that it provides you with a free health checkup once every four to five claim-free years. Moreover, the policy providers ensure free checkups if the tests are being done in the hospitals they are present in partnership with.

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3. It Bears Your Entire Treatment Costs

If you do not have an insurance plan, you will certainly hesitate to go to the doctor for some general disease. However, what you do not consider is the fact that these small diseases later turn into serious ailments if they go unnoticed. Generally, people who possess health insurance plans are more likely to pay their doctor a visit before their condition goes downhill.

 

9 Reasons Why Health Insurance Is Essential For Everyone (2023)

4. The Health Insurance Policies Also Bear Domiciliary Treatment

If an individual decides to obtain treatment from home, then the Insurance policies bear the domiciliary treatment charges. They also pay for the charges of an attendant. However, the policy providers have set up a limit within which they will extend this benefit.

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5. It Helps You To Expand Your Network

These health insurance policies at times work in partnership with a varied number of renowned hospitals. If you have a health insurance plan then policy providers take it upon themselves to guide you through the treatment process and convince you to get yourself treated by one of these renowned hospitals. Hence, once you purchase a health insurance policy your network expands.

6. You Can Now Avail Your Required Medicines Without Having To Worry About The Charges

These insurance plans provide coverage to the purchase of the medicines recommended by the doctors. In case you do not have an Insurance plan, you will certainly hesitate to buy rather expensive medicines, even when they are mentioned in the prescription. Moreover, these medical insurance policies in India are quite flexible. In case your doctor recommends some medications which are not covered under your plan, you can simply ask your doctor to write a letter to your insurance company stating how it is necessary for you to intake and your insurance plan will certainly extend their coverage to the mentioned medications.

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9 Reasons Why Health Insurance Is Essential For Everyone (2023)

7. Provides Coverage To The Pre-existing Diseases

Medical insurance policies in India provide coverage to even those diseases which you are diagnosed with diseases before applying for the Insurance plan. All you need to do is provide all the documents related to your medical ailments to your policy provider and then your health insurance plan will bear all the treatment charges related to that particular disease.

8. You Can Avail Tax Benefits With An Insurance Policy

These health insurance policies provide a number of tax benefits. As per the guidelines of section 80 D of the Income Tax Act, once you purchase a health insurance plan you can enjoy tax benefits up to twenty-five thousand rupees per annum. Various other tax benefits are available for all age groups.

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9. The Medical Insurance Policies In India Are Quite Flexible

These policy providers feature a number of plans for different age groups and categories. The type of plan for a salaried person is quite different than that for a self-employed individual. These plans are highly flexible and you can opt for one as per your own needs and convenience.

In Conclusion, Investing in health insurance plans has always been an excellent decision for people. And those who invested early managed to get the maximum benefit from it. If you’re in your 20s, creating a medical emergency fund right now can go a long way in ensuring a healthy and secure future.

It will enable you to get the best treatment, irrespective of the rising medical inflation. If you want to drain your savings against sudden medical emergencies in the future, get yourself insured under a health plan today

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