Why Health Insurance Plan is Important - PNB MetLIfe Insurance

Why a health plan is essential for you and your family

PNB MetLife 04-03-2016 03:23:14 PM
health insurance policy india

Read on to know more about the single most important step you can take to see your family through tough times in the future: taking health insurance

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In today’s times, with the costs of living rising every single day, it is becoming increasingly difficult for people to provide a good standard of living for their families. While one may avoid eating out or taking holidays, expenses pertaining to health can easily eat into your savings.

Our family’s overall well-being depends on the health and fitness of each member. Any family member facing an illness or requiring hospitalisation for surgery and recuperation will burden the monthly budget. However, an astonishingly high number of people don’t take this aspect seriously enough: what if they or their family members fall ill and they don’t have enough money to pay for the medical expenses?

In order to be able to afford unforeseeable medical expenses, setting aside a small amount in a health plan can help to relieve the financial burden of a family. Health plans will help during the time that we need the money to pay medical expenses.

When an emergency strikes

According to the report ‘Aarogya Bharat 2015’, 70% of Indians do not have health insurance. This is a shockingly low number in times like these where medical expenses are exceedingly high.

There is simply no excuse to not buying insurance in today’s turbulent times – an emergency can strike at any time, and the resulting medical expenses will wipe out all the savings in days.

Health Insurance plans provide coverage against hospitalisation and medical expenses, while still others also yield cash to deal with daily medical expenses arising from surgery and everyday medication. Medical insurance insures that you and your family are insulated against the sudden shocks of illness, accident or death by yielding immediate cash.

People are investing in good health plans on a regular basis to ensure that there is a large fount of money ready for the times that they are not working due to age or physical incapability. Normally, people take health plans in their young age to create a cushion for their retirement years, when they will be unable to work but will need good health coverage to take care of their medical expenses. Several good health plans today provide not just for expenses related to hospitalisation, but also for daily purchase of costly medication.

It is a good idea to invest in health plans when you are young and relatively free of disease and health problems. The older you get the more premium you have to pay and the higher the chances of developing health issues that may come in the way of being eligible for health insurance. Insurance providers prefer applicants who are young, healthy and non-smokers.

When you invest in health plans, get coverage that extends to the whole family and which also covers the senior citizens in the family, such as parents. Today, some premium health insurance providers are also selling health plans to senior citizens who are up to 65 years old, but the policy is only extended for a certain period of time.