The festive season is in full swing. Festivals are all about lights, food, gifts, etc. Every year, during the festive season, you may be buying gifts, such as clothes, jewellery, etc., for yourself and your family. These gifts may or may not be that useful. For gifting this festive season, rather than traditional gifts, consider gifting yourself and your family members a health insurance plan. Health insurance is an integral part of your financial planning, and it is a gift that’s as precious as gold.
In this article, let us look at the top reasons for buying health insurance during this festive season.
Why the Festive Season Is the Right Time to Prioritise Health
Festivals bring families together – and the time spent together can be the perfect opportunity for everyone to think about their lifestyle choices. By combining that with a good health plan in place, you can actually get ahead of any potential health risks and avoid getting caught out by a big medical bill – something that can be seriously damaging to your finances.
Seasonal spending & gifting → shift focus to meaningful gifts
Instead of spending on consumables, the festive season is a good time to invest in something that grows in value—health security. Buying a health plan now ensures you lock in lower premiums before age‑related hikes. It also makes an invaluable gift for family members, who may not prioritise covering themselves.
Rising lifestyle illnesses & infections
Lifestyle factors such as poor diet and lack of exercise to conditions like diabetes and heart disease. Seasonal infections also spike around festivals, with a sharp rise in viral fevers during the monsoon and festive months because crowded gatherings and unhealthy diets compromise immunity. Investing in health insurance helps you manage the cost of both chronic and seasonal illnesses while you work on prevention.
Key Reasons to Buy Health Insurance During the Festive Season
Some key reasons to buy health insurance during a festive season are:
Healthcare costs are rising rapidly
Medical inflation in India is among the highest in the world. A hospital bill today could double in just a few years. Having a health insurance plan that's got enough coverage is pretty crucial here – and not just because it insulates you from the rising costs of medical care – but also because it stops you from having to dip into your savings or take out a loan when some kind of medical emergency crops up.
Protection for the whole family (family floater - a cost effective option)
Family floater policies are excellent value for young families because they cover multiple members on one policy – making them a bit more affordable. During festivals, you can buy or upgrade to a family floater plan to make sure that everyone—from the kids to the parents— has access to the care they need.
OPD cover availability
Outpatient department (OPD) coverage pays for medical expenses without hospitalisation. OPD benefits reimburse doctor consultations, diagnostic tests, prescription medicines, minor procedures and physiotherapy. With lifestyle diseases on the rise, regular check‑ups and early diagnosis are vital. An OPD add‑on ensures you don’t postpone consultations due to cost and encourages timely care.
Preventive health check‑up benefits
Preventive check‑ups can detect diseases early and reduce the risk of complications. Star Health notes that regular health assessments and timely precautions provide peace of mind and may even offer tax benefits under Section 80D. Many comprehensive health plans cover an annual check‑up; buying or renewing your policy during the festive season ensures you start the new year with a full health assessment.
Cashless hospitalisation across network hospitals
Festivals are busy periods when unexpected illnesses can be extra stressful. Cashless health insurance eliminates the need to arrange large sums of money before treatment. As Ditto explains, the insurer pays the hospital directly at network facilities, subject to pre‑authorisation and submission of required documents. This is particularly useful when hospital bills must be settled quickly or when treatment occurs outside your home city.
No‑claim bonus (NCB) advantage
Insurers reward claim‑free years with a no‑claim bonus. The Economic Times reports that NCB can increase the sum insured by 50–100 % over five claim‑free years without raising premiums and may also offer premium discounts. Buying a health insurance plan over the festive season lets you start building up your No Claim Bonus a lot quicker, which means your coverage gets stronger with time.
Health Insurance Helps Make the Festive Season a Healthier One
Health insurance isn't just a boring financial product – it also nudges you in the right direction when it comes to looking after yourself. Having that peace of mind means you can see a doctor sooner rather than later and actually get in for those all-important health check-ups. Lots of plans these days come with all sorts of wellness perks, like fitness rewards, telemedicine, and stuff that can really help you stick to a healthier lifestyle. And let's be honest, when we're all thinking about our goals and well-being over the festive period, buying a health plan is a great way to show that you're serious about making long-term changes to your health.
Tips For Choosing the Right Health Insurance Plan This Festive Season
- Pick the right-sized cover: Pick a sum insured that's got a bit of padding for the rising cost of healthcare. The annual inflation rate of 14% is a significant factor.
- Decide between family floater or individual plans: Family floaters are great for saving money but probably not the best for older family members.
- Check the hospitals and cashless benefits: Ensure that your local hospital is included in the approved list for cashless claims and familiarise yourself with the process of obtaining pre-authorisation.
- Look for the Outpatient Department (OPD) and preventive benefits: If a plan includes add-ons for free health checks and whatnot, then that's a definite yes.
- Take a close look at waiting periods and what's excluded: Read the fine print on when you can claim pre-existing conditions and other specifics.
- Check the claim success ratio and insurer reputation: If a health insurer can sort out claims quickly and they're good with customers, then that's a good sign.
- Compare all the options: Use a genuine comparison tool or get some advice from a financial advisor to find the perfect plan that will fit your budget and needs.
FAQs
Is it a good idea to buy health insurance during festivals?
Yes. Festivals coincide with new beginnings and often mark the start of a new financial year. Buying during this period ensures you lock in coverage before premiums rise with age and benefit from promotional offers. In addition, it provides peace of mind when you travel or host gatherings during the festive season.
Do all health insurance plans offer tax benefits?
Health insurance premiums are eligible for tax deductions under Section 80D of the Income Tax Act. But the amount you can claim depends on the plan type (individual or family floater) and the insured's age.
Can I include parents in my festive season health insurance purchase?
Many insurers allow you to add parents to a family floater plan, but premium costs and waiting periods may vary. For elderly parents who need higher coverage, you might prefer a dedicated senior citizen plan.
