A common misconception amongst young people is that since they have a good immune system, they will not face any severe ailment anytime soon. Yet, what we do not understand is that an eventuality will never come knocking on the door. An example of it would be the ongoing pandemic.
None of us saw it coming. Moreover, did we think that COVID-19 would impact the economy and health infrastructure at a global level?
Medical issues are indeed a reality, a modern-day reality. We can fight strongly and not escape it. With the increasing medical expenses, even hospitalization for a day or so can affect your finances drastically.
Hence, having mediclaim
coverage is important.
What is the Best Age to Buy a Mediclaim Policy?
A mediclaim insurance is going to be your friend who will stick and support you in the hour of crisis. When it comes to buying a health insurance policy there is no specific age. However, it is highly recommended to buy a mediclaim at an early age. It will help you to tide over the toughest times in a hassle-free way.
You can choose health insurance at a young age, as comparatively, you are less prone to diseases or ailments. It means that you can easily comply with the requirement of the waiting period. For instance, for anyone who chooses health insurance for senior citizens, there is a waiting period for specific ailments before the coverage starts. At times, these ailments could be life-threatening as well.
So, if you choose a mediclaim
policy at a young age, you need not wait for the waiting period for specific health conditions or illnesses. Now let us understand the various benefits of buying health insurance at an early age.
*Standard T&C Apply
The Best Part About Buying Mediclaim at an Early Age
When you buy mediclaim insurance early it lets you enjoy many benefits. Here is a rundown of buying the health insurance plans at an early age:
*Standard T&C Apply
- Financial Planning: When you choose to buy a mediclaim policy at a young age you easily get coverage at a cost-effective premium. This would also help to plan your finances in a better way. The assurance of medical coverage gives the bandwidth to utilize the finances and make a long-term investment. *
- Liberty to Choose: When you decide to buy a mediclaim policy at an early age, you are in a position to go ahead with a plan on your terms to fulfill the needs. Today, we have a plethora of options available, hence, compare health insurance plans before making a final call. As you age, the significant options decrease, and terms and conditions also change. One of the key factors that determine the health insurance premium is age. *
- Cost-effective Premium: Buying a mediclaim policy online at a young age also helps to have coverage at a nominal premium cost. For instance, if you avail of a cashless mediclaim policy at the age of 23, then the premium that you will pay is cost-effective compared to getting the same benefit at the age of 43. *
- Fewer Chances of Rejection: So if you buy a mediclaim plan at a young age, the chances of rejection for the cover are less. At a young age, you have more productive years. It also means that you are less susceptible to any ailment or medical conditions. *
- Pre-existing Diseases: Certain pre-existing diseases are usually excluded from the health insurance policy. So, when you choose a plan at a young age, you are considered to be in the best of your health. *
- Cumulative Bonus: When you have a claim-free year, no claim bonus is added to the health insurance policy. So when you are young, the extended terms wherein you didn’t make any claim like a cumulative bonus will be added. It offers extended coverage above the sum insured and is helpful in the hours of need. *
Wrapping it Up
Having a medical insurance policy extending coverage against medical expenses helps people to seek quality medical treatment without any unrequited financial burden. There are family health insurance
and other types of insurance plans available.
The sooner you buy the mediclaim policy, the better it is. Make an informed decision and zero down a plan that suits your needs.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read the sales brochure/policy wording carefully before concluding a sale.