Topic 1: The Right Age to Buy Health Insurance for Yourself

You’d argue that while you are young, fit and fine why would you spend your money on a health insurance. Why do you have to take it now at the peak of your health? You couldn’t be more wrong and here’s why.

1)Waiting period - Some pre-existing diseases are not covered under your health insurance from day one. There is a waiting period of generally 4 years before which you shall not get them covered. So starting early is a better option.

2)Higher premium - The later you get a health plan, the higher your premium will be. Hence, there is a direct relation between your age and health insurance premium. Now you know what to do.

3)Cover cess: Most insurers have a minimum age entry for health insurance policies. If you cross that age you won’t be able to enjoy the benefits of health insurance plans.

4)Medical checkup - If you get a health insurance at an early age, insurers usually don’t enforce a medical checkup as compared to older people.

5)Comprehensive plan - If you get health insurance earlier in life you get to avail a lot of benefits from your comprehensive plan at a lower premium.

6)Lower coverage cost -  Coverage costs increase with your age. When you are younger the possibility of having had surgery or any medical condition like diabetes or hypertension is lower. This helps in decreasing your coverage cost. On the contrary, if you decide to get a health plan when you already have a medical history, your premium increases.

Hopefully, you now know what the wiser thing to do now is. Get a health cover in place as early as you can.
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