Importance of Health Insurance in Your Life
There is a well-known saying on health insurance “Buy health insurance when you don't want it, because you may not get it when you want it." Life is unpredictable and anyone can fall sick any time, but is there anyone who saves in time? On a regular basis you might save for your home or for your children but have you invested a few bucks on your long term health securities. If you didn't, this is time for you to go ahead and start buying a personal health insurance plan.
When somewhere in the middle of your life, if you find yourself in a medical emergency, your health insurance comes to your aid. A basic health insurance only covers the basic medical necessities on minor illness however it can never be sufficient during severe disorders.
There are two vital points often overlooked in the case of health insurance:
- One, no one invest on health insurance in time.
- Two, when they realize the mistake, they end up in buying too much insurance while trying to compensate.
Why buy health insurance
No Insurance means high financial burden
Without insurance on health, even a normal hospitalization chunks your savings on your medical expenses. It is compulsory to comprehend the importance of health insurance before you empty your pocket while treating diseases.
Under-Insurance is a con
You never know when a normal fever can turn out to be a dreadful disease. In addition to your treatment the hospital bills keep growing and as a matter of fact your limited health insurance will be squeezed out and requires further more investment. With this point in mind investing adequate amount on health insurance is important.
Cover your pre-existing diseases
One should own a pre-existing disease policy. As per IRDA, Mediclaim policy, a basic health insurance policy in India covers pre-existing diseases for a maximum of 4 years. On the other hand a personal health insurance covers it earlier. In reality, one should stay cautious as there is a high probability for recurrence of pre-existing diseases. For this purpose personal health insurance is mandatory.
To summarize, a personal medical insurance supports you when a critical illness strikes. It reduces the burden on your pocket. There are abundant insurers in India that offer health insurance or you can even buy it online. Health insurance policy might be costly at the same time it is unavoidable if you want to stay healthy.