When it comes to matters of health, it is better to make decisions at the earliest. This not only applies to preventive health check-ups and the like but also to health insurance. The sooner you buy a product, such as health insurance, the more likely you are to benefit from it.
For the uninitiated, a health insurance policy provides financial protection against a host of medical events and scenarios. If you were to need medical attention or be hospitalised, a health insurance plan may provide financial support in that situation. Having understood what health insurance is, let’s look at why it may be better to purchase it early in your life.
Reasons to Not Delay Buying a Health Insurance Policy
Here are some reasons why it may prove beneficial to buy health insurance without any delay:
The premium may be high at a later stage
The premium of a health insurance policy depends on the policyholder’s age. This is because a person’s age determines their health condition. Older people are more susceptible to health issues as compared to younger people, who have stronger immune systems. Hence, if you buy health insurance at a later stage in your life, you may have to pay high premiums from the start.
To get an idea of how your health insurance premium are be affected by your age, you can use a health insurance premium calculator
. It shows you an estimated premium based on the various factors relevant to you.
Medical costs may rise considerably
It is no secret that costs for medical treatment of all kinds can be quite high. Paying these high costs on your own account can drain your hard-earned savings. With medical inflation rising each year, these costs are bound to only increase. For instance, as per data published in 2022 by a top financial service in the country, room rent charges had increased by 3-4 percent and the pricing of major surgeries had increased by 12-15 percent in the preceding year. 
This has a direct impact on the health insurance premium rates too.
Thus, the longer you stay without a health insurance plan
, the more you may have to spend on these costs. Rather, one can make a yearly premium payment on their health insurance policy. It may ensure that regardless of the extent of the health condition, one may have the assurance of receiving good-quality treatment for it. *
Increase in the number of illnesses over time
Over the years, non-communicable diseases have increased in numbers and severity in India. Non-communicable diseases may include cancer, diabetes, high blood pressure, heart disorders, asthma, and so on. 
As pollution worsens, and so do the stress levels of the larger population, these ailments are bound to increase even more in the coming years.
While you may try to live a healthier lifestyle and reduce your chances of contracting these illnesses, it may not be enough. Factors such as air pollution are beyond your control. Hence, what you can do is buy health insurance
at the earliest so that, even if such a disease were to come knocking at your door, you have sufficient funds to support its treatment. *
Longer coverage for yourself and your loved ones
When you buy a health insurance plan early, you get the support of its coverage for yourself and your loved ones. * This can bring greater peace of mind as you can rest assured that you or your loved ones would have a strong financial backup in case of medical emergencies. If you delay this decision, you may end up having worries related to finances during medical events for a longer period.
Now that you may know the importance of buying health insurance at the earliest, let’s look at how you can go about that process.
How to Buy Health Insurance?
Here’s how you may go ahead with buying a health insurance plan:
Understand your coverage needs
First, make a note of the medical needs of yourself and your loved ones. Consider any illnesses, medical history, risk factors, and so on.
Now, finalise an insurance company that provides a health insurance plan best suited to your needs. You may compare health insurance plan
features from different insurers before zeroing down on one.
You can visit the branch of the insurer or their website to finalise the process. Either way, you will have to fill out forms with the relevant personal information and make the premium payment. After that, you will receive the policy soon. Depending on your age and health condition, some insurers make it necessary to undergo medical tests too.
If you have any doubts or queries regarding the same, it is advisable to consult a financial expert.
* Standard T&C Apply.
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.