In view of the growing cost and speed of lifestyle diseases in today’s time, health insurance is very important for every person. A medical emergency can strike anyone at any time, emotionally and financially affecting anyone.
There is no time for illness or accident, it can happen at any age, whether you are 20 or 50 years of age, You have to always be ready physically and financially to fight diseases. In this article, you will know that if you take health insurance at a younger age, what five benefits can you get.
Low Premium Amount
In most cases, the premium amount taken by the insurance provider depends on your current age. If you choose a policy at an early age, you will have to pay less because you are young and healthy, and therefore you are less likely to get sick or have any kind of illness.
| Age | Insurer | Lowest Premium |
| 30 years old male individual | Religare | Rs. 5159 |
| 40 years old male individual | Religare | Rs. 5609 |
| 50 years old male individual | Religare | Rs. 10899 |
| 60 years old male individual | Religare | Rs. 16,366 |
Waiting period
Generally, there is a waiting period of 30 days in the health insurance policy, during which you can claim only after the accident and no one can claim a medical emergency.
There is also a disease-specific waiting period, in which specific diseases are not covered by the policy for a period of up to 2 years, these diseases determine the health insurance company and there is a waiting period for pre-existing diseases, which is approximately 4 years, Therefore, buying a health insurance policy at an early age can reduce the waiting period without worry.
Because at that age you are less prone to diseases and you can easily cross the waiting period
Fewer chances of Rejection
Based on the buyer’s serious medical conditions, most health insurance companies accept the proposals of young people,
Generally, people decide to buy a health insurance policy when they get older, they have some illness during this time and they are likely to get a mediclaim policy.
Also, at this young age, you do not have to undergo a medical examination to keep the health insurance plan safe and you can buy an online policy without hassle.
| Age of the applicant individual | No. of plans without co-pay for S.I. Rs. 3 Lakhs |
| 30 years old male individual | 14 policies available without co-pay |
| 40 years old male individual | 14 policies available without co-pay |
| 50 years old male individual | 6 policies available without co-pay |
| 60 years old male individual | 3 policies available without co-pay |
NCB (No Claim Bonus)
If no claims are made during the pre-policy year, almost all health insurance companies provide without a claim bonus. Bonus is from 5% to 100% of the sum insured and given as a low premium amount or higher sum insured.
Example If you take health insurance of 5 lakhs and you do not make any claims for one year, the next year your cover will be 10% more, which means that your policy will be 5 lakh 50 thousand. Similarly, if you do not make a claim, your cover will be given 10% more every year
Therefore, by purchasing a health insurance policy at an early age, you will be able to get a cumulative bonus that will increase your health without increasing the premium. Accumulated bonuses can prove to be very useful in the later stages of your life.
Financial planning
Buying a Health Insurance Policy at an early age helps you to plan your finances better. When you have enough medical coverage to take care of any health emergency, you can concentrate on making other long-term investments without fear.
Co-payment
When a person takes health insurance at a higher age then a CO payment can be made in his policy, which means that you will not receive the full amount when the claim comes, you have to give some part of the claim to you from your pocket.
Conclusion
Young people usually have a long wishlist that involves buying cars, flats or vehicles, if you do not have health insurance, then your desire may never be fulfilled. It is very easy for a young person to take medication through the internet today. Do not forget to take it for your good tomorrow.