Why is it Important to Buy a Health Insurance?

Health Insurance

Fast moving life of people has compelled them to rely more on junk food. Such lifestyle is the reason that a vast number of people daily are falling prey to fatal diseases such as diabetes, high cholesterol, cardiac problems, etc. With deteriorating health conditions of people, medical bills, and prices of health treatments are also increasing. Sky high prices of medical bills have led to non-affordability of treatments by most of the people. In such situations, health insurance comes to the rescue.

Health insurance is a type of insurance policy that covers all the medical and surgical expenses of an individual. Either the insured can claim from insurance company after paying the bills or bills are directly paid by the insurance company to health institutes, depending on the type of policy. One myth that usually surrounds buyers while buying a health insurance policy is that you should purchase health policy only when you fall sick. However, the truth is that the most suitable time to buy this policy is when you are young and fit. You can avail high amount of coverage on low premiums from insurance companies if you are young and free from all types of health risks.

Following are various other benefits of buying health insurance plans :

• It covers all your medical costs and provides timely medical care. You even get free preventive health check-up, screening or vaccines under some policies protecting you from unexpected high medical costs.

• Some policies like family health insurance plans provide health protection for all your family members in times of any medical emergency.

• One major benefit of buying a health insurance plan is tax saving, Payments made towards health insurance premiums are deductible under section 80D of income tax act.

Most of the people lean on health insurance policies provided to them by their work organizations. However, such policies will lapse as soon as you leave the job. So it is better to safeguard your health by buying a personal health insurance plan.