Health insurance is one of the most valuable things you can invest in, in today’s world. With a constant increase in the cost of health care in our country, the emergence of lifestyle-related diseases also threatens your savings; this is why having health insurance has become a necessity. Still, if you’re wondering when is the right time to get a health insurance policy, keep in mind this saying, “The best time to start was yesterday.” The next best time is NOW”. This also applies to the health insurance scheme.
A health insurance policy acts as coverage that provides you with much-needed financial backup in the event of a medical emergency. Health risks and unforeseen medical emergencies are unpredictable and therefore part of our lives. Some medical events do not alert you in advance to prepare financially in the moment. This is where a health insurance policy comes in handy.
In tumultuous times like these, health insurance can be one of the most useful gifts you can buy for yourself or your loved ones this New Year.
Whether you’re looking for an individual policy, family floating health insurance, or group health insurance, here are a few reasons why the new year might be a good time to choose health insurance:
Start a new year with Healthy Resolution:
A new year is known to bring hope, new energy, excitement and a sense of compassion for most people as everyone is in a festive mood, looking back at the previous year and hoping for the future. coming year. Many like to celebrate the start of a new year with a resolution or promise to themselves, about how they want to spend their year, and what would be a better resolution than to stay healthy, take care of your finances , saving for emergencies and making sure you are financially and mentally prepared for any unexpected medical emergencies. All of the above things can be achieved with a simple health insurance policy. You can bring peace of mind to your life and save your money on unforeseen medical events in the coming year by investing in a health insurance policy for you and your loved ones.
Upcoming Innovative Health Plans:
Many insurers are offering innovative health plans that use technologies such as artificial intelligence (AI) and machine learning (ML) to provide more advanced and intelligent customer services. With the appearance of new cases of COVID-19, many insurers are offering innovative health coverage to deal with a severe health crisis and hospitalization. Getting health insurance for a better year might be the best way to prioritize health over everything else.
Investing for better tax planning:
As you approach the end of the financial year, you should start looking for ways to invest properly, not only to save taxes, but also to get good returns on your investment. Investing in a health insurance policy can be one of the best things you can do because you can enjoy huge tax benefits on the health insurance premium. You already know the benefits of a health insurance policy, as it helps you financially in a medical emergency by paying medical bills and treatment costs. However, many forget one crucial thing about investing in a health plan, which is that it’s a great tax-saving tool. Investing in health insurance to plan for your taxes can be a big investment for the whole year ahead.
Buying health insurance at an early stage helps you get financial security at lower premiums. The amount of the premium begins to increase with age since the risks of diseases also increase. Therefore, it is essential to invest in a health insurance plan as early as possible, and keeping the above points in mind, the new year seems like the best time to do so.
This article is written by Pulak Sarmah, Senior Vice President and Head of Marketing at Kotak General Insurance, and the opinions expressed in this article are the personal opinions of the author.