Low premium, more coverage: Often at the age of 20-25, youth consider themselves ‘superman’ and consider health insurance i.e. health insurance as a non-essential expense. They think they are healthy, what do they need it? But this thinking can be overshadowed in future. The truth is that the age of 20s is the best time to take health insurance, and it has many benefits that protect not only your health but also your financial condition.
Benefits of taking health insurance at an early age:
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Better coverage on low premium: A straightforward thing, when you are young and healthy, you are low -risk customers for insurance companies. Therefore, you get a good coverage health insurance policy at very low premiums. The premium also increases with aging.
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The waiting period is easily removed: Most health insurance policies have a certain waiting period for some diseases (such as pre -existing diseases, or some special surgery), which can usually be from 2 to 4 years. If you take a policy in 20s, then this waiting period is fulfilled only when you remain healthy. Later when you really need a treatment, you do not have trouble getting a claim.
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Financial security from unexpected diseases: Today’s run -of -the -mill life and changing lifestyle do not see diseases. Any minor and big illness or accident can occur at any time, and nowadays the cost of treatment is touching the sky. A good health insurance policy prevents you from finishing all your deposits at such a time.
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Tax exemption benefits: The premium you pay for health insurance, it also gets tax exemption under Section 80D of the Income Tax Act. This is another way to save your money.
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Benefits of No Claim Bonus (NCB): If you do not claim any year, the insurance company gives you no claim bonus next year on renewal. This can be either as a discount in your premium or as an increase in your coverage. You can submit good NCB as the probability of claim at an early age.
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Increasing danger of lifestyle diseases: Nowadays, lifestyle diseases like diabetes, high blood pressure are increasing rapidly among the youth. Health insurance also provides you a cover for the treatment of these diseases.
In short, taking health insurance at the age of 20s is a visionary and intelligent decision. It not only protects you financially in medical emergency conditions, but also gives you mental peace. This is not a cost, but an important investment for your healthy and safe future.
