Insurance

5 Reasons Why You Need to Get a Health Insurance Policy?

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The onset of the COVID-19 pandemic has made people worldwide sit up and realise that medical emergencies are unpredictable, and they can cause tremendous financial stress. Also, in the purview of the rising medical inflation, getting access to a high-quality medical treatment facility can seem out of reach if you don’t have the necessary financial means to meet the expenses. Therefore, it is best advised to purchase a robust health insurance cover for you and your family.

If you have not purchased a Mediclaim policy yet, here are five reasons why you must get the coverage today.

  • Get protection against lifestyle diseases

Over the years, lifestyle diseases have been on the rise, especially among youngsters. Illnesses like respiratory issues, obesity, diabetes, hypertension, heart diseases, which were earlier prevalent among older people, are now rife among people in their 20s and 30s.

Some of the crucial causes of the rise in such diseases among the younger generation include stress, constant exposure to pollution, lack of sleep, improper eating habits, sedentary lifestyle, smoking and drinking addiction, etc.

While you can combat these diseases by taking preventive measures, an unfortunate incident can put immense financial stress on the family. To avoid such a situation, it is better to be prepared for the worst with a comprehensive Mediclaim policy that provides coverage to all family members.

It is advisable to choose a policy with high sum insured so that you can avail of treatment at the best medical facilities without worrying about the cost.

  • To keep your family protected

While looking for the best health insurance policy, buying a family floater plan that covers all the members is better than buying an individual plan for every member. You must consider the member’s age, and if you have old-aged parents, they may be more susceptible to illness, so choose a plan that covers specific diseases that your family members may have.

  • To counter inadequate coverage

Many people avoid buying health insurance policies mainly because they believe the coverage provided by their employer is enough. However, you must know that such group policies have limited coverage. Also, you can avail of the policy benefits only till you are employed with the organisation.

Generally, the group insurance policies cover only basic and common diseases and associated treatment. It may not provide coverage against the threat that runs in your family. In such a situation, you must bear the treatment expenses from your pocket. You can easily avoid the situation by buying a separate healthcare policy for you and your family.

  • Deal with medical inflation

As medical technology is progressing, the treatment cost is on the rise. And you must understand that the medical expenses are not limited only to bed charges. Suppose you or any of your family members get hospitalised. In that case, you must incur several charges such as doctor fee, specialist consultation fee, diagnostic tests fee, operation theatre cost, ICU fee, medicines, ambulance charges, etc.

All these costs can put a considerable strain on your finances if you are not sufficiently prepared. You can beat the medical inflation and get quality treatment without worrying about expenses by paying the relatively affordable healthcare premium.

  • Tax benefits

Apart from offering financial protection against medical expenses, Mediclaim insurance also helps you get tax benefits. The tax deduction on health insurance premiums is covered under Section 80D of the Indian Income Tax Act.

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