Health Insurance is nowadays, one of the best protection tools that an individual should always have by his side no matter what. This is because the health insurance has a number of benefits to look forward to, and is actually something that comes handy in case of any physical ailment. But most people have a myth that health insurance is only ideal for people who are of elderly age while the fact is just the opposite. Today we will discuss about why buying health insurance at an early age is advantageous for the individual and that too in a detailed manner.
- A comparatively lower premium- The premium for a health insurance of an individual is lesser when the person is younger and it goes up as the risk factor increases (which is more likely when the person is aged). Thus if you are buying the insurance early, then your premium will be much lower along with a better coverage.
- Less exclusions- For all the people who are taking up health insurance at an elderly age, the medical cover is given but along with some exclusions of diseases that the person is more likely to encounter. But if he or she is young, then the exclusions are a lot lesser and even if the ailment happens to him even when he or she has reached an elderly age.
- No medical check-up prior to the insurance buying- For the elderly ones, it is mandatory to have the hassle of a medical checkup done before they can buy any kind of medical insurance But if the person is young, then he or she does not have to go for any medical tests and thereby their policy tenure can be initiated without any delay. Also, the absence of medical checkup means that the policy is unlikely to get rejected.
- Better age limits- The younger you are, the more extended is the age limit. Thus you will not have to worry about the age limit while your policy term is going on.
- Coverage for pre- existing diseases- If you are smart enough to buy the health care insurance at an early age, then you get to have the coverage for pre- existing diseases, since there is no medical examination done at the time of the issuance of the policy.
- More Bonus- If you buy health insurance while you are young, then you are liable to get more bonus and the cumulative bonus can add up to an extent that you can be freed of giving an entire year’s premium.
- Better personal finance planning- Buying health insurance at an early age suggests that you care for your finances better and you will not have to lose a ton of money over physical ailments. Once the worry of hospital coverage is over, you can save your money in the best possible manner.
Now that you know about the benefits of health Insurance buying at an early age, why not do it right away?