Why You Must Have Health Insurance: Healthcare costs are getting more expensive and people are getting sick more often. Health insurance is important because it helps people pay for medical emergencies. Even though we can’t plan to get sick, we can be ready for the financial part of it by buying health insurance. Health insurance is like a special kind of insurance that helps pay for medical bills.
There are different types of health insurance plans like ones for individuals or families. It’s a good idea to have health insurance as part of your money planning. Health insurance helps people pay for medical bills, but it can still be very expensive to get medical care in our country. Not many people in India have health insurance compared to other countries. But the government is working on making new programs and spending money on healthcare to help make it better.
It’s important to have health insurance to help pay for medical care for you and your family. If you have a family, you can get a special insurance plan just for them. But how much you have to pay for this insurance depends on different things.
5 Reasons Why You Must Have Health Insurance
1. Changing lifestyle: It’s important to have health insurance because we are more likely to get sick these days. Things like traveling, being busy with work, eating unhealthy food, and pollution can make us sick. So, having health insurance helps us get the care we need if we do get sick.
2. Rising medical costs: Going to the doctor or hospital costs a lot more money now. If someone gets really sick or hurt and needs to go to the doctor, they might have to use their money they were saving for other things in the future. In India, people usually use their own money to pay for medical things when they need them.
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3. Income tax benefit: If you pay money for health insurance, you can get some of it back as a discount when you pay taxes. If you are under 60 years old, you can get up to ₹ 25,000 off for paying for your own health insurance or for your family’s health insurance. If your parents are 60 years old or older and you pay for their health insurance, you can get up to ₹ 50,000 off. If you pay for your senior citizen parents’ health insurance or medical check-ups, you can get a discount on your taxes. You can save up to ₹ 75,000, which is more than before.
4. Coverage of pre and post hospitalisation expenses: Going to the doctor or getting tests done can be expensive. Even if you don’t have to stay in the hospital, you still might have to pay a lot of money. That’s why it’s important to have health insurance. It can help pay for these costs, not just for when you stay in the hospital, but also for when you visit the doctor or get tests done.
5. Additional benefits: Health insurance helps you pay for things like going to the doctor and getting medicine. It can also help you if you need an ambulance or have to have surgery. Some health insurance even covers things like getting check-ups and getting shots to keep you healthy. Some insurance even covers special treatments like Ayush.
Right Age to Buy Health Insurance
People often wonder when they should buy health insurance. But actually, there isn’t one perfect age to buy it. If you buy health insurance when you’re young, it will be cheaper than if you wait until you’re older. This is because as you get older, there are more risks that come with being insured. The cost of health insurance depends on things like your age, medical history, and where you live. So, if you get health insurance early, you’ll be able to save money on how much you have to pay.
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Important Coverage to consider while buying a health insurance
When you get insurance to help pay for your doctor visits and hospital stays, it’s a good idea to also get something called critical illness insurance. This type of insurance gives you a certain amount of money if you are diagnosed with a really serious illness that is covered by the policy. You can get it on its own or as part of your regular insurance. Having critical illness insurance is important because it can help pay for things that your regular insurance might not cover if you get really sick. For more details click the link.