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The Right Age To Buy Health Insurance Is Now 25!

For millennials, taking a health insurance policy should be on their priority list.

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Today, we are not only fighting against vector-borne diseases like dengue or jaundice but also lifestyle diseases. Due to the increase in stress, pollution, working long hours, unhealthy eating habits and lack of active physical activity, our body has become susceptible to many lifestyle diseases like obesity, diabetes, cardiovascular diseases like heart blocks, etc. There is a lot that we can do to prevent these diseases, but little once we are diagnosed with such diseases, apart from getting the right medical support. A recent study by the Cardiology Society of India says 25 per cent of the people who die of heart attacks are less than 35 years of age. It is an alarming statistic that should get people to start securing their future. For millennials, taking a health insurance policy should be on their priority list.

Benefits of buying health insurance at a young age

Health insurance in India is seeing a slow and steady rise. A health insurance policy taken at the younger age has a lot of benefits. You are financially protected during sickness and hospitalisation and can avail yourself of a wide-ranging coverage and a multitude of benefits.

  • Lower Premiums:

When you are young, the risks of contracting non-communicable or life style diseases are slim. It will result in reduced premiums and less cost for insurance.

  • Waiting Period:

Usually, there is a waiting period of 30-90 days for the policy to be in effect, even in case of medical emergencies. It is a big advantage if the policy is taken at a young age so that one is prepared.

  • Better Coverage: 

There are a lot of add-ons to be considered when taking a health insurance package at a young age. The chances of getting those add-ons are higher for young people since the health risk is lower. It will also help in getting coverage for OPD and other procedures that are not usually covered in a comprehensive policy. 

  • Lower Chance of Rejection: 

Most of the time, health insurance coverage is rejected for high-risk individuals buying a policy post-40. Since you will be looking at buying a policy at a young age of 25-30, the chances of your policy getting rejected come down drastically.  

What should your health insurance cover?

Now that you know the benefits of getting insurance at a young age, check if your insurer provides the following coverage: 

  • Accidental and illness hospitalisation
  • Maternity and infertility treatment 
  • Organ donation 
  • Bariatic and Psychiatric treatment
  • Air or road ambulance transportation 
  • Alternate treatment (Like Ayurvedic or homoeopathic treatments)
  • OPD benefit 

Health insurance is a safety net that will protect you from unexpected financial burdens in times of need. But more important, it will give you the freedom to access the right treatment on time without worrying about the expenses.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

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Vivek Chaturvedi .

The author is Head of Marketing, Digit Insurance

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