Being a part of the busy life of today’s world, staying healthy has become a herculean task. The number of diseases is increasing and the treatment of those diseases is becoming costlier. In such trying times, staying healthy is not only tough but also takes a financial toll on people.
Growing cases of early onset of age-oriented diseases such as Alzheimer's and the rise of lifestyle diseases such as diabetes, thyroid, blood pressure problems, etc., add to the challenge of maintaining a healthy life. The treatments of such diseases can become expensive, and not having health insurance cover can only make it worse. It can result in unwanted financial strain on the family and exhaust savings.
Of course, everyone should have health insurance and now need it at an earlier age than before. Like any investment, it gives you better returns when you invest early
Advantages of buying health insurance early on in life
There are several advantages provided by health insurance companies for buying at an early age. These include:
- Low Premium: It is a fact that premium costs are directly proportional to the age of the buyer. This means that for similar benefits and sum insured, a young buyer has to pay comparatively less than someone older.
- Waiting periods are served in time: Every policy has waiting periods that have to be covered before any claim is made for pre-existing conditions. Waiting periods differ from policy to policy, but the customer cannot get a claim reimbursed for those conditions until these periods are over. Buying health insurance early covers the waiting periods well in time. It means, in old age if any unwanted circumstance occurs, then the customers can get the money on a claim and won’t be denied due to the waiting period.
Issues faced upon delaying health insurance purchase
An individual can face several problems if he/she delays the purchase of health insurance. They include:
- Medical screening: Once a customer crosses 45 years of age and he/she then decides to buy insurance, then health insurance companies ask for a medical screening. It involves a few tests that detect any existing health issues. Based on this, the sum insured and premium is decided.
- Higher premium: It is a known fact that health risks increase with age. Therefore, insurers charge a higher premium for higher entry age. Continuity benefits such as No Claim Bonus may not be available if the policy is being purchased at an older age, as likelihood of claims during the policy year increases.
- Possibility of crossing age limit: Most policies have age limits for entry. Buying late can restrict policy options to customers, as they might have crossed the entry age limit of the majority of policies.
- High waiting period: As mentioned earlier, insurance policies have a waiting period. If someone older buys a policy, then he/she will have to wait for the waiting period to get over before making any claim.
How does SANA.Insure help?
Irrespective of age, buying health insurance is not an easy task. It involves a lot of research and groundwork. The complicated terms and conditions of the insurance policies make it even more challenging. SANA.Insure offers more than a hundred policies that are meant for various medical scenarios. Moreover, the expert advisors at SANA.Insure helps the customers compare policies and choose the right one based on their requirements. They truly care about the customers and hence, their advice is purely unbiased and reliable.
Visit the official website or connect over WhatsApp chat on 8278271818 or call on 1800 202 8118 to connect with a Health Insurance Expert at SANA.Insure.
Wish you a healthy and happy life!