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Why Does One Need Health Insurance And What Would Happen If One Does Not Take It Up?
Mr Suraj is 32 years of age and his wife is 30 years. Both of them exercise regularly and are in the peak of health. The premiums for a family floater for Mr Suraj his spouse and a single child are in the range of INR 8000-9000 for a coverage of INR 4-5 Lakhs..Mr Suraj believes he does not need a health insurance policy as it is a waste of money .Over the next 5 years Mr Suraj would incur costs of INR 50000 for a health policy which he believes he could have invested in the stock markets for high returns .So What Advice Would One Give Him?
Mr Suraj has discounted acts of God such as an accident or even a disease like Jaundice which in a metro like Mumbai can cost in excess of INR 30000 .A major accident could set Mr Suraj back by INR 2 Lakhs. His investment deals and expected profits in the share market would disappear in seconds. Anyone can suffer from a disease and exercise alone cannot guarantee ones health. It would be a major relief financially and mentally for Mr Suraj if he takes up a family floater plan for his family as not only can he financially cover himself , it can also be a major stress buster for Mr Suraj’s family.
What Is The Use In Locking The Stable After The Horse Has Bolted?
Many times one must have heard from one’s friends how they state they can purchase that health policy after they fall ill. What Reply Would You Give Your Friends? This is a classic case of locking the stable after the horse has bolted .A preexisting disease is basically a health condition suffered by an individual before taking up a health policy. This information may be deliberately suppressed by an individual or a policy may be taken after the disease is detected. Diseases such as diabetes and hypertension are covered after two to four years of continuous claim free renewals. No claim must be made by the claimant with some other insurance company for the same disease or complications arising out of this disease during this period. Co payment might also be necessary or an additional premium might have to be paid to cover these diseases .One must surely have heard this regret among the top 10 regrets of all time. What If I Had Purchased That Health Policy When I Was Younger And In Good health?
Insufficient Sum Assured
Would one start building a house with insufficient construction material. It would look like an ancient ruin wouldn’t it? In a similar way one must surely insure oneself for a reasonable amount considering his health condition. This amount should be sufficient to cover hospitalization charges, Doctors charges as well as treatment charges. Surely one has to factor all this in that health policy.
In Youth We Learn, In Old Age We Understand
In a recent survey conducted in India data showed the youth and households in urban areas hardly cared to purchase a health policy. This was widely noticed among the youth in the Southern part of our country. Even in youth and households earning above a Crore no heed was paid to that health policy. Across India only 25% of the households have health insurance and in the lower income category of urban India it is an abysmal 2%.The Western parts of India have the highest health cover with over half the households with income of 1 Crore taking up a health policy.
Change Your Thoughts And You Change Your World
IndianMoney.com believes that each and every individual of our nation especially the youth should take up a health insurance policy. None of us has seen the future and being forewarned it is necessary for one to be forearmed. It is necessary for one to understand never to sit on important things but to do the needful at the earliest.IndianMoney.com also believes that one should pick up that health policy in one’s youthful days and maintain claim free years in order to procure loyalty benefits and discounts. This also eliminates problems faced due to pre-existing diseases. Do Not Sleep On Such An Important Job. Get That Health Policy Today. One can reap its benefits in ones old age.
Happy Investing!!
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