Health insurance provides the financial backup for the people at the time of medical emergencies. It is one of the way to be financially prepared for uncertain health risks. The experts recommend to purchase a health plan as soon as you are 18 years old. This makes you to accumulate the cumulative benefits when you become older, as you can avail of a higher coverage.
- More Options
By taking the health policy at an early age has a higher number of options. You can compare different plans and gtake the decision. There is a lower probability of non-acceptance of your proposal and there will be coverage for all types of ailments at early stage. - Less Premium
If you take policy at early age, with no serious medical conditions, the insurers perceive you as a low-risk policyholder, who has a lower probability of filing a claim under the health plan. So, you will be eligible for higher coverage like critical illness insurance for an affordable premium. - No Medical Tests
When you grow older, it is mandatory to undergo several medical tests and check-ups. The results of medical tests are analyzed by the underwriters, which in turn determine whether the policy will be issued to you or not. If you take health insurance at early age, then there is no need to undergo medical tests. - Waiting Period
Every health plan has a certain waiting period, in which the coverage for pre-existing conditions is not available. If you have any medical condition, it is not immediately covered under the policy. So, investing at an early age ensures the waiting period is over if you are diagnosed with any ailment in the future and coverage for the same commences immediately. - Renewal for Lifelong
Insurance Companies may offer lifelong renewal if you take the policy at an early age. This secures your financial stability, if you are hospitalized at a later age. However, it is important to renew your policy on or before the due date to ensure continued coverage.