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Investment in Health Insurance Policies

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It is human beings' biggest desire to make good money, to invest where they might have maximum profit. They spend on gold, education, land and business because they know it will bear them sweet fruits but what about Health? Can any of you deny the importance of health? I guessed so. We know health is one's most prized possession, if you have health then wealth, success & your dreams are not far away. It is the key to your happy life hence; this article is dedicated to health & the need for you to invest in it.

Health-Insurance-Plan

Health-Insurance-Plan

Life is so fickle, one can't even guess what may happen next moment but a wise person always prepare himself/herself for the best or worst, thus it is of utmost importance that you are prepared for your well-being too & that indeed includes your health. So, what to do? Oh! We say purchase health indemnity. It is the first step to good & healthy life. Health insurance assures that one's family & he himself is taken care when time comes. In market, several insurance companies offer health policies with benefits & riders that make them more appealing.

Types of Health Insurance Riders-

  1. Family Floater– It is a family health insurance where whole family will be taken care of. This sort of health plan ensure that even if you are not there for your family member still at time of need, this policy will pay for the treatment (condition apply).
  2. Senior Citizen– When you reach 50, it is obvious that your health condition will get deteriorate and thus, expenditure on medical bills will increase. Therefore, health insurance companies offer several senior citizen health policies. Senior citizen health insurance comparison can be done on any insurance (analytic) website so that you have several options to choose from.
  3. Critical Illness– There are times that one may suffer from serious illness which require lot of money but one cannot pay for it with simple insurance so there is critical illness rider that provide for diseases for instance paralysis, organ transplantation, kidney failure, cancer, heart attack, etc. However, this rider works only after 3 months of buying.
  4. Individual Accident Insurance– This rider makes sure that if an accident happens from your vehicle due to collision and any individual, asset or vehicle is dented then this insurance will pay the victim on your behalf.
Health-insurance-Policies-benefits

Health-insurance-Policies-benefits

What to do before you buy?

One must do following things before they buy health policy-

  • Set Your Budget– One must set a budget before they do anything else. You know the cost of health insurance but if you don't know if a certain policy is within your budget then you cannot make a good decision.
  • Analyze Your Needs– Different policies provide different riders & benefits so instead of getting confused analyze your needs and then buy. As for money, insurance companies rating and quotes can help you with that so that later on you don't regret.
  • Compare & Analyze Different Policies-Many insurance companies offer several health insurance policies & it is up to you to take advantage of it and therefore, compare and analyze the policies and if it fulfills your requirement then buy it.
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1. BNP Paribas Long Term Equity Fund

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4. ICICI Prudential Long Term Equity Fund

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8. Reliance Tax Saver (ELSS) Fund

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