Why Is Health Insurance Important?

The cost of Medical Treatment in India has increased exponentially in recent years. In fact, the rate of Medical Inflation, as of December 2021, stands at 15% which is more than twice the overall inflation rate. 

As they say, it is better to be safe than sorry. So, let’s dig a little deeper into the question and finding the best health insurance plan is important for each and every one of us. 

Types of Health Insurance Plans

Health Insurance is a kind of Insurance coverage that covers you against the medical expenses incurred due to any illness or injury. 

Now, there are various types of Health Insurance

which include Individual Health Insurance, Family Health Insurance, Critical Illness Insurance, and more. Each of these different Health Insurance plans serve a distinct purpose. 

In a nutshell, buying a Health Insurance plan that suits you has to be a vital aspect of your financial planning. Let’s find out why! 

3 Reasons to Buy a Health Insurance Plan
Deteriorating Lifestyle

The life most of us lead today makes us more prone to a variety of health concerns. Lack of physical activity, disrupted circadian rhythm, and unhealthy diet are some of the factors that adversely affect our wellbeing. 

Of course, one would say they can change their lifestyle and move towards a healthier one. But how often do people actually manage to do that? Not very often, right?

That’s where health insurance plans come in and make sure we are financially prepared for any health emergencies. Millions of Indians fall below the poverty line because of the inability to pay the huge medical bills. 

Rising Medical Costs 

We have talked in brief about the rising medical costs in India. And when you combine our unhealthy lifestyle with the ever-increasing cost of medical treatment in our country, the importance of buying a plan from the best life insurance company that suits you becomes self-evident. 

Furthermore, there is a wide variety of health insurance plans out there to choose from. If you find yourself confused, you can get in touch with an Insurance planner who will help you make a better, more informed decision.

Income Tax Benefits

Another added benefit of buying a Health Insurance plan is that the premiums you pay are eligible for tax deductions under section 80D of the Income Tax Act. Naturally, tax-saving should form a major part of your Financial Planning. 

With a health insurance plan that suits your needs best, you not only get coverage against the huge medical bills but you also save your hard-earned money from being eaten up by taxes. 

Get a Personalized Health Plan Today

As of October 2021, nearly 30% of Indians do not have Health Insurance. Make sure you do not make the same mistake. Stay ahead of life and prepare for its uncertainties with a Health Insurance plan that suits you best.  

Feel free to reach out to us and let us find you a cohesive, personalised Health Plan. 

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