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2-min read

The Right Age to Buy Health Insurance for Yourself

Get a health cover in place as early as you can.

Anshika Bajpai |

Updated:May 13, 2019, 11:51 AM IST
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The Right Age to Buy Health Insurance for Yourself
Get a health cover in place as early as you can.
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Today’s fast-paced life leaves us with little time to pay heed to our health. There is something or the other always on our mind and one of the most important part of adulting - ‘getting a health insurance’ - takes a back seat. Now you’d argue that while you are young, fit and fine why would you spend your money on a health insurance. Why do you have to take it now at the peak of your health? You couldn’t be more wrong and here’s why.

1) Waiting period -
Some pre-existing diseases are not covered under your health insurance from day one. There is a waiting period of generally 4 years before which you shall not get them covered. So starting early is a better option.

2) Higher premium - The later you get a health plan, the higher your premium will be. Hence, there is a direct relation between your age and health insurance premium. Now you know what to do.

3) Cover cess: Most insurers have a minimum age entry for health insurance policies. If you cross that age you won’t be able to enjoy the benefits of health insurance plans.

4) Medical checkup - If you get a health insurance at an early age, insurers usually don’t enforce a medical checkup as compared to older people.

5) Comprehensive plan - If you get health insurance earlier in life you get to avail a lot of benefits from your comprehensive plan at a lower premium.

6) Lower coverage cost - Coverage costs increase with your age. When you are younger the possibility of having had surgery or any medical condition like diabetes or hypertension is lower. This helps in decreasing your coverage cost. On the contrary, if you decide to get a health plan when you already have a medical history, your premium increases.

Hopefully, you now know what the wiser thing to do now is. Get a health cover in place as early as you can.

To know more, click here.

This content has been created in association with YONO SBI.

(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
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