According to you, what is the right age to buy a health insurance policy?
Many of you believe that health insurance is needed when you are older because this is the age when you are suffering from most diseases or illnesses. However, the fact is quite different from this assumption. A health insurance policy is needed at every age, even for a new birth, because illnesses, injuries and illnesses are not of any particular age. Even children can suffer from diabetes or heart-related diseases. So, you need to insure yourself and your family members under suitable health insurance schemes at all ages.
Health insurance plans are also designed in such a way that they cater to the specific needs of individuals at different ages. So, let’s have a look at the relevance of health insurance at different ages and which insurance policy would be right to provide the necessary coverage –
- Health insurance for new births Why? – Newborns are at risk of infection and diseases because their immunity is very weak. That is why you should be very careful while raising a new born child. If the child is suffering from an illness after delivery or if the delivery is complicated and the child needs additional therapy, the medical costs can be considerable. In addition, the cost of vaccination in the first year is also quite high. This is why a health cover is required for new-born people. how? – You can invest in a family floater health plan which also has coverage for a new born child. Typically, such plans cover the child for up to 90 days after birth. After that, you will have to pay an additional premium to cover the child. Look for schemes that also cover first-year vaccinations so as to control the cost of vaccination. Pro tip: Check coverage limits on new born children. Opt for a plan that has a high coverage level for adequate cover.
- Health insurance for infants and dependent children Why? – Babies are also in their growing state when they are victims of diseases and illnesses. In the case of children 5 years of age or older, the likelihood of accidental injuries increases. Apart from this, children can also overcome diseases and lifestyle diseases given their changing lifestyle habits. That is why you should have a health insurance cover for your children so that when they are ill, the policy can cover your medical expenses. how? – Buy a family floater health plan and cover your dependent children under it. Make sure the plan has an insurance amount to cover expensive medical costs. Pro tip: Dependent children can be covered from 91 days to 23 or 25 years. After the maximum age, you need to insure your children under a personal health plan.
- Health Insurance for Young Adults Why? – Young adults between 25 and 35 years of age need health insurance plans to cover them against potential illnesses and injuries. In addition, when you purchase a health plan youth, you can take advantage of comprehensive coverage and even apply a waiting period for pre-existing diseases. how? – If you are married, invest in a family floater health plan for you and your spouse. Choose a plan with maternity coverage if you are planning a family soon so that maternity costs are also covered under the plan. If you are not married, but will be married soon, you can buy a personal coverage and then convert it to a floater plan after the wedding. Pro tip: For your dependent parents, choose an independent senior citizen policy. This will help you avoid frequent claims and will also give you additional tax benefits.
- Health insurance for adults Why? – As you age you become a victim of diseases. For example, a health insurance policy is necessary for you and your family members. how? – Invest in a comprehensive family floater plan covering all your family members. Choose a senior citizen policy for your dependent parents and cover them separately. Opt for a higher insurance amount or purchase a super top-up plan to increase coverage at a cheaper premium. Pro tip: Try and supplement your health plan with a critical illness plan. This policy will provide you an additional financial support in case of critical illnesses.
- Health Insurance for Senior Citizens? Why? – Once you cross 60, your health slowly starts deteriorating and different diseases start to occur. Your employer sponsored cover also expires when you leave without coverage after retirement. Therefore, health insurance plan is necessary in old age. how? – If you do not have an independent health insurance policy, choose Senior Citizen Health Insurance Plan. If you already have an independent health plan, check the adequacy of coverage. While your existing plan allows lifetime renewal, you should increase the sum insured for adequate coverage. Pro tip: Health plans that cover senior citizens have a co-payment ratio in which you are responsible for paying a portion of the claim yourself. Check the co-payment ratio of the policy at the time of purchase.
As you can see, health insurance is essential at every age and whatever your age is, there are policies designed to provide you coverage. Therefore, assess your and your family’s health insurance needs and choose the right coverage for a comprehensive protection.