Why Buy A Health Insurance Plan at An Early Age?

Let us discover the advantages of buying a health insurance policy at an early age.

1. Low Premium Cost

The lower premium cost is one of the key benefits of getting a health insurance policy when you're young. Age is frequently a significant consideration for insurance providers when calculating premium costs. Younger people qualify for lower premiums because they are typically healthier and have fewer pre-existing diseases. When you buy health insurance at an early age, it entitles you to lower premiums, which will enable you to save money over time.

2. The Advantage of Comprehensive Coverage

Health insurance plans offer comprehensive coverage that includes various medical expenses such as hospitalisation, doctor consultations, diagnostic tests, surgeries, and medications. You can take advantage of more coverage alternatives when you buy health insurance at an early age.

We, at Liberty General Insurance, offer extensive coverage, and give you access to high-quality healthcare with our options of health insurance plans. You would not have to worry about the cost because you will be financially protected against unanticipated medical situations.

Explore the range of our comprehensive health insurance online to choose the one that fits your requirement.

3.Easy to Overcome Waiting Period

A health insurance policy has a waiting period before you can claim certain benefits. By purchasing health insurance at an early age, you get past this waiting period faster. This means you won't have to wait a long time until your policy starts covering those particular treatments or procedures if you do need medical care in the future.

4. Tax Benefits

In India, under Section 80D of the Income Tax Act, health insurance premiums paid for the self, spouse, children, or parents may be deducted from income. Early health insurance purchase allows you to take advantage of tax benefits and lower your tax obligation. This provides an additional financial incentive for young people to purchase a health insurance policy.
To know more, read our blog on Tax Benefits of Health Insurance under section 80D.

5. No-Claim Bonus

Health insurance plans often offer a no-claim bonus as a reward for not making any claims during the policy term. The no-claim bonus can result in a reduction in the premium amount or an increase in the sum insured. If you buy health insurance early, you can accumulate this bonus over time, providing you with additional benefits and rewards for maintaining a healthy lifestyle.

6. Better Financial Planning

Investing in health insurance policy early, enables you to incorporate it into your overall financial planning. You may prevent medical costs from wiping out your investments and savings by getting a health insurance policy. Additionally, by not stressing about the potential financial strain that health emergencies may cause, you can concentrate on creating a stable financial future.

By investing in health insurance plans early on, you can ensure that you are adequately protected against unforeseen medical expenses, maintain financial stability, and enjoy peace of mind. Remember, health is unpredictable, and having a health insurance plan in place is a prudent decision that can safeguard your well-being and financial security in the long run.

At Liberty General Insurance, we offer various plans for you and your family and offer numerous options for additional covers. Check out our offerings to buy comprehensive health insurance online and choose one that fits all you need. If you are looking to buy health insurance plan for you and your family, read our blog on The Step by Step Guide to Choosing the Perfect Plan for Your Family.