5 Reasons Why Health Insurance Should Be A Part Of Your Health Planning

Reasons Why Health Insurance Should Be A Part Of Your Health Planning


Health has two aspect, prevention and treatment. While is it always recommended to adopt preventive measures to wade off diseases or perhaps reduce its onset, there are time wherein despite best effort individuals can take ill. Thanks to progression in medical science, treatment has become quite advanced and today we have cure for the most serious illnesses. However, the cost of treatment is very high and owing to this, several families reach the abyss of financial breakdown and strive to find the best treatment facility for loved ones.

All this leads to immense economic burden across sectors and fraction of the society. This is why health insurance policies are becoming an inherent need of time. Irrespective of one’s age and financial disposition, health insurance is important for the following 5 reasons –

You can avail the best medical facility

Most health insurance providers like HDFC ERGO have tie-up with highly reputed hospitals and multi-specialty clinics. Therefore, even if you or your loved one is diagnosed with a serious ailment, you don’t have to compromise on the quality of treatment if you own a comprehensive health plan. Additionally, several health insurance companies have started offering preventive healthcare packages as part of health insurance scheme.

These schemes allow the policy holder to undergo preventive health checkup without having to worry about high expenses involved in such screenings. The scheme offers concession of diagnostic procedures, X-rays, consultation etc. In short, health insurance policies are not only beneficial for treatment of diseases, but also play an integral role in preventing them.

Your entire family stays protected in face of a medical emergency

The family floater health insurance policy is a dedicated medical insurance product that is designed for the health needs of a family. Therefore, each and every member of a family is covered by a single policy.

The biggest advantage of a family floater plan is that the entire sum insured amount can be used for the treatment of a single family member. This is because it is highly unlikely situation wherein two family members are diagnosed with a serious condition at a given time. Since, the sum insured for a family health plan is higher; you are assured of the best medical treatment for your entire family.

You get maternity benefit, if you are planning to expand your family

These days newly married couple wait for at least 3 to 4 years before they decide to become parents. Bringing up a child in today’s world is an expensive undertaking. Right from paying hospitalization fees post and prenatal care can incur huge expenses. But, if you have a health insurance plan that offers maternity benefits you will not have to worry about such things. However, it is important to remember that health insurance policies that offer maternity benefits usually have a waiting period. Subject to variation, the waiting period is usually between 4-5 years.

Therefore, prudence calls that you should take a health insurance scheme immediately after marriage. This way you not only avail health insurance benefits as a couple, but will also be useful when you finally decide to expand your family.

Your health insurance policy continues to offer cover even after retirement

You may be covered by your corporate health insurance policy, however if you own an individual health scheme you can avail its benefits even after retirement. Group or corporate health plan stops offering any benefits once you retire. However, if you have an individual health plan, then you continue to enjoy health coverage. Some, insurance companies have started offering lifetime renewal options, which means that you don’t have to worry about health expenditure post retirement.

However, this benefit of health insurance policy can only be enjoyed by those you have procured a health plan at an early age. Therefore, health insurance policies not only take care of health needs of the present, but also in the future.

You get coverage against critical ailments

Critical illnesses like cancer, paralysis, and cardio-vascular diseases are not only life altering, the high cost of treatment and management of these ailments are a resource hungry affair. Thankfully, with critical illness plans, policy holder can get relief from the high cost involved in the treatment of these diseases.

For all practical concern, health insurance policy is an essential part of health insurance planning. A lot of people who do not believe in taking health insurance policy feel that it is an unnecessary expenditure and that they are healthy enough to be not strike down by an illness. But the rationale of health insurance is that one must take the policy when they not need one. This way the premium of your policy will be less, at the same time, you may be healthy today, but no only can predict the future. Therefore, it’s always better to be prepared for the unexpected.

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