Why You Must Buy Health Insurance Before Turning 30?

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health insurance

In the era of the excessive hike in almost everything around us and all the lifestyle changes that we are making owing to the fast-paced lives and using the best credit cards to swipe in these lifestyle changes, medical expenses have incredibly increased too. Nobody is safe from a possible medical emergency. This brings in the need for health insurance irrespective of how old one is or how much income one has. It is always a good idea to enter into a health insurance policy as soon as one can and advisably before one turns 30 to get major advantages.

Reasons to Buy Health Insurance

With the decrease in life expectancy and not many people even batting an eyelid about it, makes it difficult to combat one of the major concerns in the country. The medical inflation has now reduced the possibility of people waiting for the ‘right time’ to enter in a health insurance policy. Any moment that makes you feel that your health costs might increase now, could be a good time to get a policy. Here’s a list of seven reasons that will convince you to get a health insurance policy before turning 30.

The Waiting Period

One of the prime factors that need to be considered while entering into the health insurance policy is the waiting period. Usually, health insurance policies have a waiting period which ranges from 30 to 90 days. This is the time period when despite having purchased the insurance you cannot claim it during a medical emergency. If you buy the insurance policy when you are younger there wouldn’t be any problem at all to complete the waiting period without any issues.

For older people who might have a need for it, the waiting period can both prove to be a nuisance and also cannot be avoided. Once your waiting period is over, you can easily claim the full benefits of your health insurance during the case of any medical emergency or otherwise irrespective your age.

Lower Premium and Tax Benefit

One of the biggest advantages of buying health insurance early is the premium that you need to pay. Usually, while opting for a health insurance policy, most of them charge you according to your age. So, the lower your age, the lower the premium that you have to pay. Also, buying a premium at an earlier age will allow you to enjoy some tax benefits for a much longer period. Buying it early will lead you to make better financial decisions and you can also save up on quite a lot of money owing to the aforementioned tax benefits you will enjoy.

Increase in Lifestyle Illnesses

It is a well-known fact that most of the medical conditions that are currently on the rise can be blamed upon the lifestyle that we have chosen for ourselves, willingly or unwillingly. Diseases are not just limited to the old age anymore and life expectancy has also decreased. The sedentary lifestyle that most of us have opted is the major cause of heart diseases and other serious ailments.

The health insurance policies also encourage the buyer to go for annual health check-ups that cover most of the aspects, thus making people more aware of themselves and also being aware of the possible ailments. If one is insured, one doesn’t have to constantly worry about the medical issues that might eventually arise, whether due to old age or at a younger age. Also, these checkups sometimes involve counseling sessions and health awareness campaigns, thus, helping people to lead a healthier lifestyle. Prevention is always better than cure.

Pre-existing Financial Burdens

One of the most practical factors in opting to buy a health insurance policy before you turn 30 are the pre-existing financial burdens that you will be loaded with once you are above 30, such as housing etc. If you buy a policy in your 40s, it will only lead you to be overburdened with reduced benefits that you might have enjoyed earlier with a lower premium. Also, a lot of these health insurance providers exclude multiple pre-existing conditions from being covered if you buy the policy when you’re older which does not serve the purpose of the health insurance.

Therefore, make sure you do not wait until you are 30 to buy a health insurance policy. The sooner you buy it the more benefits you can enjoy at its expense.