Most of us make financial investments hoping to get better returns in the future, but not many Indian households across most Indian states invest in health insurance plans . As the old proverb goes, “if wealth is lost something is lost, if health is lost everything is lost.” Therefore, it’s important to treat this as a critical investment to safeguard both your and your family’s future.
These days health insurance is one of the most crucial investments you can make because as humans, falling sick is only natural and the sudden need for hospitalization with today’s lifestyle is a sad but true reality. More so, at a time when there is a global pandemic and access to high-quality medical care has become more of a basic need and right of an individual.
The importance of investing in health insurance plans is often ignored by many and therefore it’s important to understand why you should immediately get yourself and your family insured.
Secures your Right to High-Quality Medical Care
As mentioned, the right to high-quality medical care is not only a requirement but a basic right of an individual regardless of their financial status. However, in the absence of coverage, it might get difficult or at times even impossible to exercise that right due to the costs associated with getting treated at a premium facility. Consider health insurance as an umbrella that protects you in case the need for hospitalization arises without you having to dig into your savings.
It’s Inflation Proof
It’s one of the best investments you can make as it’s inflation-proof and you can rest assured that no matter what the future holds, you will stay one step ahead when it comes to protecting your family’s health and medical requirements. It’s a no-brainer that health coverage is a necessity more than anything else with the rising cost of healthcare the world over. By 2022, the healthcare market in India is expected to reach US$372 billion, driven by rising income, increasing health awareness, onslaught of lifestyle diseases and increasing access to insurance plans.
Helps in Better Financial Planning
Buying health insurance while you’re still young costs much less as opposed to getting it when you are no longer in your prime. Getting covered early on in life also means that you can focus on making long-term investments from a financial perspective more confidently since you’re adequately covered for any medical contingencies should the need arise. Moreover, as you age, you usually pay a higher premium and get lesser coverage, so it’s a good idea to get covered at a young age.
Offers Cumulative Bonus
Every claim-free year grants you a bonus, often referred to as ‘No Claims Bonus.’ Buying insurance early on in your life means you are less likely to make a claim during a year and thereby increase your total coverage amount. This bonus gets accrued overtime for every claim-free year and will help in the later stages of your life when you might need higher coverage.
Health insurance coverage is not something that you should postpone as something for the future. It’s vital that you get it at the earliest so that you’re covered from early on in your life. Care Health Insurance offers health insurance plans that not only provide comprehensive coverage including Ayush treatment but also provide lifelong renewability to better take advantage of that cumulative bonus we talked about earlier.
So, if you are still to buy health insurance coverage for yourself and your family, the time is now. It will not only help you safeguard your family’s immediate future but also provide a safe cover in the long run; one that offers more benefits than it actually claims. In the end, health is all that matters, and being able to fully enjoy your life without having to worry about uncertainties of life frees you from having to constantly look over your shoulder.