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You understand the importance of staying fit; however, do you know whyis it essential? Being active reduces the risk of suffering from chronic illnesses.
When you spend long hours sitting, there is a greater risk of conditions like hypertension, heart attack, and diabetes. Physical activitiesenhance the quality of life when you get older. Moreover, your brain health improves, and the chances of depression reduce.
Following a healthy and active lifestyledecreases the possibility of life-threatening ailments. Possibly, you may forego availing of a health insurance planwhen you are in the pink of your health; however, you need to think of the future.
Medical emergencies come unannounced
Medical urgencies do not necessarily mean an illness;you may meet with an accident while driving or fall down the stairs. Treating these may take a long time. Such a scenario may affect your income-earning capability. Without a cashless health insurance policy, paying for such medical emergencies may cause financial havoc.
Rising medical costs
Medical expenses are increasing due to inflation. Here are the approximate costs of treating some types of chronic ailments:
- Cancer: INR 10 lakh
- Heart disease: Angioplasty – INR 1 to INR 3.5 lakh, bypass – INR 2 lakh, and valve replacement – INR 3.5 lakh
- Kidney diseases: Dialysis – INR 12,000 to INR 20,000 per month, transplant – INR 4 lakh, and post-transplant expenses – between INR 5,000 to INR 10,000
- Organ transplant: Lung transplant – INR 20 lakh, liver transplant – INR 18 lakh, and pancreas transplant – INR 17.5 lakh
- Other surgeries: Hip replacement – INR 4.5 lakh, knee transplant – INR 4 lakh, and spinal fusion – INR 4.2 lakh
Benefits of buying health insurance at an early age
A stressful and sedentary lifestyle and unhealthy diets are increasing chronic conditions among the youth. It is difficult to meet high treatment costs without a health insurance plan. Here are three reasons to take health coverage when you are young and healthy:
- Affordable
Often, when you are young, there is a lower chance of suffering from a chronic ailment, which reduces the risks for the insurer. Therefore, you can get higher coverage at an economical premium.
- Comprehensive coverage
As a young adult, you most likely do not suffer from any pre-existing condition. Most medical insurance plans have a waiting period for pre-existing ailments. Therefore, buying insurance at an early phase of life ensures that you go through this duration and seek sufficient coverage if the need arises at a later stage in life.
- Financial planning
Apart from being cost-effective, buying health insurance at a young age is ideal for monetary planning. The lower premium helps you save money, which you can invest in other income-earning financial instruments. Additionally, you get tax benefits on medical insurance premium you pay under Section 80D of the Income Tax Act, 1961.
A mediclaim gives you the peace of mind by protecting your savings in case of an unexpected medical necessity. Get one today to keep potential financial problems away.
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