Benefits of Small Health Insurance

Medical costs are rising day by day and health insurance is becoming very difficult. Normally when it comes to buying a health insurance, normally people say that I’m fit and I don’t need health insurance or I’ve a health insurance but I never used it.

Now ask this question to someone who has not purchased a medical insurance and is undergoing extreme medical emergency. Many a times, medical emergencies can bring big blunders to a person’s life and all his lifelong savings will take a hit and also make you tense in arranging all the basic necessities. Not having a good medical insurance policy can bring financial tensions as well as whole family goes through mental stress.

Opposite is the case when you’ve a health insurance policy. In this case, you don’t have to worry about the healthcare cost irrespective of the medical emergencies arising. This is one of the biggest advantage of having a insurance policy. Only thing you’ve to worry is your health. Financial burden would be taken care of by your mediclaim provider. So buying even a small premium health insurance policy can get you best health care service without giving a hit to your hard earned savings.

So what is the right time to buy a health insurance? Answer is – as early as possible.

Although none in your family is ill but unforeseen events such as accident, serious diseases can bring havoc to your ongoing smooth life. By buying a family floater, you can include your family members – wife, 2 children, mother and father into one policy and at a very small cost. Most importantly you can also get income tax exemption under section 80D. But you should keep in mind that family health plan may not always be good.

Final Comments – health policy costs you money but saves you a lot. For a family of 3 persons – with your age – 26, wife’s age – 24 and child’s age – 1 year; INR 2 Lacs policy will cost you premium of 10, 600 annually.

Also read – health insurance for young people