In India’s fast growing economy, opportunities are immense for youngsters. Riding high on lucrative earnings, they enjoy spending with their open hands. Whether it is going on a foreign trip or buying the latest smartphone, today’s youth wants to explore everything.
Though they are prudent when it comes to managing their finances, most of them shun the idea of buying health insurance. The reason is simple- they are too young to fall ill!
However, in reality, being young doesn’t make the person immune to diseases. Below are compelling reasons to invest in a health insurance policy at an early age:
The digital age has ensured people are connected to their offices all day and, sometimes, all night with little time for themselves. As a result, lifestyle ailments like obesity, hypertension, etc.; are rising among youngsters along with heart ailments, kidney issues, etc. Further seasonal diseases like swine flu, malaria, dengue, etc.; can strike anyone, irrespective of what their age is.
Accidents come unannounced
Road accidents kill more people in India than in any other nation. While road accidents are an acute concern area, the other types of accidents, like train collision or derailment, electrocution, drowning, fire, etc., also pose a threat to human life.
The early bird catches the worm
Invest in a health insurance policy at a young and disease-free age to hedge against pre-existing diseases. Above all, there is a ‘no claim’ benefit for not filing a claim, which can result in high coverage.
Corporate health insurance is not for life
Modern generation doesn’t stick to one job throughout their life. Corporate health insurance is there as long as the person is working with the company. What if a new opportunity doesn’t come with a health insurance policy?
Loaded with tax benefits
Health insurance premium paid for self is eligible for tax benefits under Section 80D. Buying health insurance at a young age means that the person can enjoy tax benefits for a longer duration.
Time and tide never wait for anyone. Though no one wants or plans to fall sick or get hurt; the need for medical care can arise at any point of life.
So one should buy health insurance when they don’t need it because they might not get it when they need it.