Have you ever wondered what is the right age to get a Mediclaim policy or a health insurance plan? As a child, you were probably covered with your parents in a family floater plan. However, after a certain age – usually around 25 years – you cannot be included in that plan for coverage. So, does that mean you stay without a health insurance plan? Absolutely not! Ill health can impact us at any age and we must be prepared with proper coverage. So, if you are in your early 20s and no longer covered by your family floater health insurance plan, here are some convincing reasons why you should get your own individual plan immediately.
- The premiums are cheaper
When you are in your 20s, you are mostly free from any pre-existing diseases. This puts you in a relatively low risk bracket for the insurance provider. Thus, you might get coverage from the best health insurance policies at very affordable costs. You will barely have to pay a few thousand rupees for a health insurance plan of around Rs 3 lakh sum insured. That is truly a good deal as the same plan will be much more costly for someone in their 40s or 50s.
- You stay covered against unexpected illnesses
Even though you are young, you can still fall ill. Dengue and malaria can affect almost anyone; even critical illnesses like cancer are known to impact people of all ages. So, it is wise to stay safeguarded financially against the expenses associated with hospitalisation. With a health insurance plan in hand, you can live life to the fullest, knowing that you are covered every step of the way.
- You protect your hard-earned savings
A single hospitalisation can completely drain out your hard-earned savings. It may even cause you to borrow money from your aged parents or from friends. The best way to stay financially secure is by having a health insurance policy that does all the heavy lifting when it comes to hospital bills. You can then rest assured that your savings will not get depleted if you fall sick.
- You can accumulate a good no-claims bonus (NCB)
When you are young, you are less likely to make claims on your health insurance plan. You can then benefit from growing your no claim bonus each policy year. When you finally raise a claim after a few years, you will have quite an impressive no claim bonus accrued in the form of an increase in the sum insured. The best health insurance policies offer a no-claim bonus increase that goes as high as 50%.
We hope that these reasons have convinced you why it is advisable to buy health insurance in your 20s. These days, you can easily find and purchase the best health insurance policies online in a few minutes. So, go ahead and start getting the coverage you need – today! Take care and stay fit!