Buying A Health Insurance Policy

What is Health Insurance?

Health insurance is an insurance product that covers an insured individual's medical and surgical expenses. It reimburses the damages accrued as a result of sickness or death or explicitly pays the treated individual's treatment provider.

Why should you buy Health Insurance?

Lifestyle diseases are on the rise, especially among people under the age of 45. Diseases such as asthma, obesity, lung disorders, heart failure, many of which are common in older adults, are also rife among younger citizens as well. Choosing to enroll in an insurance program that includes routine wellness exams will help identify certain infections early and make it easier to take care of medical costs, leaving people with one less thing to worry about.

As medical technology improves and there's a rise in diseases, especially in the course of the COVID-19 pandemic, so does the cost of treatment. All of these could place tremendous pressure on people’s finances if they aren't prepared properly. They can beat the burden of medical inflation by paying a relatively affordable health insurance premium each year while opting for quality treatment, without worrying about how much it will cost them.

How to find the right Insurance Policy

Although overall life expectancy has significantly increased, it is also a fact that the number of diseases affecting people is also on the rise. Today, medical inflation and the country's rising healthcare prices will burn a massive hole in your wallet and also have a significant effect on your financial wellbeing.

  • Analysis of the sector: In-depth market research should be done to get the best health insurance plan. With a wide range of plans available in the market, selection of the appropriate health plan to meet individual requirements tends to become difficult. Extensive consumer analysis, though, still appears to have greater benefit.
  •  Look for options for covers: There are constraints on what is covered and what is not covered. You must make sure you’re conscious of all the inclusions and the exclusions in advance.
  •  Compare Plans: Various health insurance plans ought to be compared to get the best option available.
  • Feedback is a must: Always ask the family and friends who have purchased a health insurance plan for advice and feedback. Ask the healthcare agent about their encounters. Also, question them about their degree of happiness or disappointment with the package they had bought.

Health Insurance at an Early Age

The peak of life is the perfect opportunity to be covered. You're safe, but you're going to get to pay small rates! When you grow older, you will experience health problems

that will inevitably increase your premiums. It's smart to get insured as soon as possible, so your premiums stay low.

Medical care is for someone who does not want to experience financial hardship during a medical incident. There are three forms of healthcare policies - one policy for themselves, one policy for common family members and one policy for all family members, that is the family floater policy.


  • Buy early to get the best price: Buy it to book your policy at the lowestpossible premium as early as possible.
  • Buying early means strengthening financial preparation: Buying things early is not only inexpensive but also more financially sensible. Accidents arise without notice and an appropriate insurance plan would ensure that you are protected from accidents and encourage you to spend your hard-earned money in long-term savings.
  • Young buyers get a bigger deal: You will be covered by new health plans for daycare procedures, not just serious hospitalization. Also, diseases carried by vectors are shielded. Some contracts do include pregnancy advantages, which at this stage of existence may be significant. Your baby would be protected with no extra premium from conception, too.
  • You're an engaged executive: Many people have to travel frequently for job-related activities. Therefore, it makes perfect sense to provide a health insurance package providing immediate medical treatment along with having accessible the finest healthcare services around the world for certain common and important illnesses.

Reasons for Refraining:

  • Don't buy if you don't understand: Never buy a plan that you cannotunderstand clearly.
  • Don't miss the review of the agreement: Do not delay the renewal of your policy or your policy coverage may no longer be of any use.
  • Don't wait to consult with policy brokers: Do not find visiting insurance brokers to be a waste of time. These meetings will only help you to get a clear picture of the different health insurance plans and proposals.

Hence, choosing the right Health Insurance policy is paramount to you and your financial wellbeing.

Leave a Reply

Your email address will not be published. Required fields are marked *

We are glad you have chosen to leave a comment. Please keep in mind that comments are moderated according to our Comment Policy.

See other blogs by Wealthfare

Your fiscal cup of tea


About Us