Are you one of those who think that health insurance is only for the old and unhealthy? Have you ever wondered getting coverage against unforeseen hospital expenditure and several illnesses can be a blessing? And, why wouldn’t you want to get a cover at the price of buying a chocolate daily, when it can take all your stress away.
Just think of a scenario where god forbid you have to shell out a sufficiently large sum of Rs 5 lakh for a heart disease, wouldn’t you like the same covered for a premium of mere Rs 300 monthly. Isn’t the same a better deal than paying through your own pocket? Yes, insurers exist to make profit but they do underwrite your risk. Even if that’s the case, let’s face it — a health insurance plan solves a serious consumer problem of protecting them against the risk of a huge expenditure they might face otherwise in an emergency situation.
Here are my few cents on why you shouldn’t ignore health insurance at any cost.
Change in lifestyle
Late working hours, bad eating habits, no exercise and high levels of stress--these factors are enough for a healthy person to fall sick within seconds. Yes! It is the truth; an unhealthy lifestyle takes you closer to the sickness zone. In a recent survey, it emerged that nearly 45% young Indians are susceptible to lifestyle diseases such as high stress and depression. Now, if that doesn’t prompt you to buy a health cover, nothing else can. However, to guard against situations like these, it’s worthy to invest in a health insurance plan.
Growing menace of road accidents
Careless driving is a common scenario on the Indian roads. According to the government reports, more than 140,000 people were killed on India’s roads in 2015. There are no statistics on how many get injured in such accidents, but it’s likely that would be only significantly high. The dangerous roads that we ply on in our country, chances are that one wrong turn and you might drag yourself closer to accidents. Imagine, if any day you happen to be the one meeting with the accident, are you prepared enough to bear its cost? Treatment in a hospital can actually cost you a bomb! Think about it.
Self worth is equally important
Isn’t it strange that we put more money in collecting materials rather than spending some in protecting ourselves! We decide to put ourselves last where need to put ourselves first.
We are sure home and car repairs can be very, very expensive, but have you ever thought how would you repair yourself in case of any untoward accident? For attaining the material benefits you typically save for, you should also invest some in health insurance in order to avail those benefits.
Because prevention is always better than care
Why would anyone want to wait for a serious medical condition to be diagnosed? Instead, get covered under a health insurance policy and receive annual check-ups and other tests to know about serious medical conditions early when they are still treatable. It has been reported that every year, approximately 5.8 million people die due to stroke, lung diseases, cancer and diabetes. The number is bigger for accidents where more than 1,200 road crashes occur every day in India. Prevention has to be taken from the starting, by being cautious and if still missed, then by having health insurance.
How can we forget the retirement phase?
If you are planning to retire, it is all the more important for you to have a good insurance plan, especially when your survival would depend on interest income or pension. In such a situation, a sudden medical crisis can be such havoc. When people fall in old age, it becomes more difficult to deal with treatments due to no static income source. Hence, it is always better to take the policy well in advance to cover yourself for lifetime.
Opting for a health plan is worth the effort and time in the long run. It doesn’t require much time, just the clarity and knowledge is what which is needed. Clear your objectives and secure yourself for lifetime. Stay healthy, always!
—by By Dhruv Sarin, head of Health Insurance, Policybazaar.com
