10 Benefits of Buying Health Insurance In 2024
No matter if you are completely fit and are in no need of a health insurance plan but, you cannot deny that a health emergency can come any day on your door at any point in time and can generate a huge expense. Therefore, it is better to be prepared for such unwanted situations, it is essential to have a health insurance plan so that you can live a tension-free life when it comes to dealing with medical emergency expenses. So, we are discussing here some health insurance benefits which might can change your opinion.
Advantages Of Health Insurance Plans
The benefits of having a health insurance plan are many. But before discussing that let’s first understand what a health insurance plan is.
What Is Health Insurance?
An agreement signed between an individual and the insurance company according to which the latter promises to pay for the medical expenses of the insured. Typically, good health insurance offers coverage for most illnesses, however, this varies from insurer to insurer. The cost of the health insurance plan also differs from one insurance company to another, so before buying health insurance, take all the determining factors into account.
Benefits Of Health Insurance Plan
Some of the notable benefits of having a health insurance plan are enumerated below:
1. It Offers Financial Security
In times of a health emergency, health insurance helps a lot of extent so that you can easily deal with all the unseen medical emergency. With a health insurance plan, you need not worry about the rising costs of medical treatment, as depending on the sum insured, you will be provided with the necessary coverage according to your plan.
2.To avail the Tax Benefits
A health insurance plan offers tax benefits up to Rs. 1 lakh under section 80D of the Income Tax Act, 1961. Also, a senior citizen health insurance plan offers a great tax benefit.
3. To protect Your Family Members
Many health insurance plans such as a family floater health insurance plan provide coverage for your family members. This means that your entire family can stay protected with just one health insurance plan. To top it all, with a family health insurance plan, you can also save on additional premiums.
4. For Cashless Hospitalizations during emergency
If you are a policy holder don’t worry the hospital expenses are directly settled by the insurer at the network hospitals, thus saving a lot of time for the policyholders. They have tie-ups with several network hospitals that provide cashless treatment to the policyholders.
5. Additional Coverage according to individual needs
According to your individual needs, you can also enjoy additional coverage in your health insurance plans. It can be possible by adding suitable riders to the existing health insurance plan. For example, if you are newly married and are planning to start a family, then a maternity rider can help you cover pregnancy as well as newborn baby costs also.
6. To protect yourself Lifetime
In today’s time, many health insurance companies now provide the option of lifetime renewability. This means that you can get the same health insurance plan renewed throughout your lifetime and can enjoy the benefits of the health Insurance policy.
7. To Deal against the changes in Lifestyle
Due to frequently changes in lifestyle, different kind of diseases now affect many of us. Different factors such as pollution, stress, unhealthy diet, etc are the contributing factors to such diseases. These diseases include diabetes, hypertension, heart stroke, and more. So, to deal with these diseases, it is quite necessary to have a health insurance plan and make sure to check whether the health insurance plan you are buying provides coverage against these or not.
As we learned lesson during pandemic medical expenses can constantly rise with each passing day. So, to be prepared against such a rise and to avail quality treatment at the same time, it is best to have a health insurance plan.
9. To avail Pre- and Post-hospitalization Benefits
As we have already mentioned, a health insurance plan covers hospital medical expenses. In addition, health insurance also provides pre- and post-hospitalization benefits by covering ambulance expenses, medical tests, and many more.
10. To get Insured for unhappening’s at The Right Age
As a health insurance plan has several benefits, it is best to get insured at the right age. Getting insured at an early age means that you can enjoy the benefits of a health insurance plan at an affordable premium. This is because the chances of falling ill when you are young are relatively lower.
Conclusion
The health insurance plan has several benefits, Protection from unexpected, high medical costs, Lower costs for covered in-network health care, even before you meet your deductible, Free preventive care, like vaccines, screenings, and some check-ups, even before you meet your deductible, Reduced medical costs, making health care more affordable and accessible, Facilitated access to care, resulting in lower death rates and better health care outcomes. Thus, owing to so many benefits that health insurance offers, it is advisable to purchase a required health insurance plan right away.