This article is for you if you are planning to buy health insurance, but are an Indian and so you need to confirm if you really should buy health insurance or if you have already bought one and want to confirm if it was a good decision.
Read till the end to find your answer.
The fact that you are searching for reasons is in itself a reason for you to buy health insurance as you too in your mind somewhere do know that you do need health insurance but are a little hesitant.
Do not worry, each one of us has been there.
Covid-19 has left a mark on the majority of us about the consequences of not having health insurance as many among us lost our lives because of lack of funds. Many of us did learn the lesson, though in a hard way.
Health insurance serves a purpose similar to that of an airbag in a car. The airbag in a car ensures that when someone meets with an accident it minimizes the damage to the person sitting inside the car. Though it may not be able to bring the damage to zero, it will definitely incur lower damage than compared to a car with no airbags. The same goes for health insurance.
It may in some situations not cover all your expenses but it sure will minimize your expenses by a greater ratio.
Reasons to buy health insurance.
Now that you know the importance of health insurance and the purpose of health insurance, let us insure the importance of health insurance with 6 important reasons to buy health insurance which are listed below.
1. Better personal finance management:
Wondering how buying health insurance is a sign of better personal finance management?
Health insurance as we have talked above deals with unforeseen expenses that may incur in managing your health or treatment of an illness. If you don’t have health insurance then you will be left clueless and with a ton of bills when you or your family member is prone to a chronic disease.
Keeping a percentage of your income which may not be significant can really insure you in the long term.
Once you get health insurance, you won’t have to worry much about medical emergencies or the cost that it may force upon you.
Also, as we have covered in another of our article, the benefits of 80C, you can use 80C to get your health insurance without paying money from your pocket.
2. Prepare yourself for lifestyle diseases:
Technology and modernization have eased the life of individuals or so does the modern man believe. With the evolution of technology and modernization, humans have also brought problems for themselves.
Better if we say the man has bought problems for himself rather than brought as a man buys different high-tech gadgets which serve the purpose of increasing pollution, which has become a big problem for the modern man. So, in a way, humans are buying problems for themselves.
The problem of pollution has resulted in the rise of global warming and different diseases. Lifestyle diseases like diabetes, obesity and heart diseases which used to be prevalent in people aged 45 or above in the past are now common among young people too because of pollution, stress, or unhealthy eating habits.
Basically living an undisciplined way of life leads to lifestyle diseases. Some of these diseases take longer to cure whereas some do not have cures at all but can be controlled by regular medication or thorough probiotic foods. These regular medications can rob any sane person of their income quickly if they do not have health insurance.
3. Counter Medical Inflation:
Inflation has been on the rise in the world and so is medical inflation. After all, what can be costlier than the equipment that can save lives or improve a person’s health. New technologies in the medical world are introduced each day which promise to do better than the previous technologies, though at a higher price.
Medical inflation is a known phenomenon and the only viable solution to it is health insurance. You, me or any renowned doctor cannot predict what diseases we might have to face in the future and the technology to counter those diseases.
Of Course, those technologies will not be for free or priced low. Health insurance is the only solution to counter medical inflation and be a step ahead of your mates.
4. Benefit of early insurance:
Health insurance does not come with a fixed price for all individuals. There are different health insurance plans for people of different age groups. After all, no one wants to lose their money.
Health insurance companies offer health insurance to young people at a lower price as they know that they are less prone to chronic diseases than older people.
So if you are young, then do not think too much about the decision of buying health insurance. Buy it straightaway as it will cover you for a long time at a lower cost and you can lead your life peacefully.
5. Protect your family:
People who are among the working class may not care much about themselves but are very careful and serious when it comes to their families.
You may be the sole breadwinner of your family and so if you are suffering from a disease, then not only you but the whole of your family will suffer as the savings will go into your medical bills. Whereas good health insurance will get you good treatment and your family can live on the savings that you have made.
Also, there are many health insurance plans which cover the whole of your family and also costs less. So, it is a great idea to get health insurance which covers your whole family.
If you are among the individuals who like to be organized, disciplined, and have a knack for planning for the future, then health insurance is a must for you. I hope this article cleared you of any doubts you had regarding health insurance. Stay tuned to our blog for more informative articles
