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They say that the earlier you buy it, the lesser you pay for it. With the lifestyle in which we all are living it is difficult to say that our life is at no risk. It has never been as important to take care of our health, but after the huge outbreak of the virus, it has been made abundantly clear in everyone’s mind how much there is a need for health insurance. No doubt, you might have a very healthy lifestyle but medical emergencies can occur anytime – anywhere.
Health insurance covers an individual’s medical and surgical expenses that may arise due to any illness or accident. It takes care of all your medical costs. At the time of these medical crises, the burden of finance can be stressful. These health insurance plans are always available to the customers in two forms:
1. Individual Health Insurance Plan
2. Group Health Insurance Plan
In an individual health insurance plan, an individual is personally the owner of the whole health plan. Whereas, in Group Health Insurance Plan the sponsor is the one who owns the whole policy and the people who are covered under it are the members of the health insurance plan.
Therefore, it is quite important to have a health insurance policy. It is like a financial shield for your future during any kind of emergency.
Advantages of Health Insurance:
1. The most superior benefit of investing in a suitable health insurance plan is that it is a tax benefit.
2. It is important to select a plan which is suitable for both you and your family for example – includes free monthly checkups, ambulance expenses, hospitalization expenses, etc. It offers you large financial coverage which can cover all types of treatments and all.
3. It provides a cashless treatment hospital as well.
If we talk about the right time when to buy a suitable health insurance plan, honestly speaking, there is no particular right time to buy it, the moment or the age when you are financially independent you should buy it. When buying a health insurance policy, it is advisable to go for critical insurance illness. There are quite interesting benefits of buying health insurance plans at an early age. Like by buying health insurance at the age of 20s, you start getting tax benefits from it and if you buy health insurance plans at the age of 40 or 45 first you need to go through a simple health check-up before buying it. In short, it believes that as you grow older, it becomes quite difficult to buy good health insurance plans. So, the right time to buy a suitable yet perfect health insurance policy is NOW.
Let’s look into some of the reasons why buying a health insurance plan is important :
- lifestyle change is one of the prominent reasons why there is a problems of health issues, hectic schedules, and wrong way of eating.
2. Increase in health diseases. The change in lifestyle leads to early increased health diseases.
3. With the estimated increase in medical insurance policies in the future, it is wise to get hold of a health policy that fits your requirements.
Now, if you have decided to buy a good health insurance plan, let’s look into the Health Insurance requirements. There are some important documents which are needed to be submitted during the time of buying a health insurance plan :
1. The proof of identity of a person who is buying, the insurer will first ask for identity proof to keep a check and to maintain all its records. For example – Aadhar card, PAN card, Voter id, or passport.
2. Next, the insurer will also need your address proof to make a communication whenever required.
3. Age proof is also an important thing for an insurer to know.
4. The person’s passport size photo should be submitted and medical reports ( if any ) asked by the insurer.
5. All the medical history about you ( the person who is buying) and of your family will be taken into consideration.
Being health insured with medical insurance is a lot like a safety net. If you unexpectedly get sick, well health insurance is always there to help you. If you and your family do not want to face all medical bills while dealing with the illness in a hospital bed, it is always a good idea to stay financially secured with a health insurance plan.