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Why your Financial Plan Should Include Health Insurance


Jul 27 2020


Health is the most precious commodity of all, and in today’s stressful times, it is all the more pressing. Health is a huge issue in modern times, with an alarming rise in pollution levels and an increase in the stress component in daily living. As a result, health insurance is a basic necessity. You should always plan your finances in a way that health insurance is right at the center of it. This is one of the most important investments that you will be making since it will keep you insured of any future medical treatments and emergencies.

Here’s looking at a few critical aspects in this regard: 

  • Sudden Medical Emergencies

When it comes to health insurance, most of us overlook the chances of medical uncertainties. Things like accidents and other such mishaps can take place unexpectedly, hence, you should be prepared. With increasing costs of proper medical care, a personal accident policy can be helpful. This will not dent your budget in case of any emergency crops up. The insurer will cover the expenses and help you out in a critical situation. 

  • Tax Advantages

Having mediclaim or health insurance always has its financial benefits. You should always cash in on the tax benefits for you and your family by having health insurance. There are income tax benefits under Section 80D on the premium paid towards health insurance. The maximum deduction can be Rs. 60,000. 

  • Life Post Retirement

Life is more convenient when you are working. Post-retirement, the monthly income stops flowing in, and this is when the real battle starts. Now in such a situation, if you have a health insurance policy from before, your life will be more comfortable since you will have ample security concerning health problems. Your goals post-retirement like vacationing around the world or buying a large house can be then taken care of easily. A health insurance policy takes care of the chief concern – the healthcare cost and frees your mind of all financial, medical worries.

  • Medical Expenditure that is Recurring

Recurring medical expenditure is one thing you need to be careful about in life. You never know what kind of diseases or ailments you may, come across in your twilight years. You should always prepare for additional expenses and extrapolate for higher medical or recurring medical costs in planning your health-related expenditure. Because, your finances can get severely impacted in old age if you do not have a proper health insurance policy. Long-term health issues or critical illnesses will naturally necessitate a large amount of money. It can become tough to handle the same after retirement without a critical illness policy in place while still keeping your standard of living intact. 

Your chief concern should be taking care of yourself, and hence, a health insurance policy should not be missed out upon at all. This will prove to be a significant pillar of support for you whenever there is a critical situation in the future. Health insurance is vital for every individual. Hence, you should buy a good health insurance policy without further ado.

Remember to compare plans and take a look at the benefits and features of all the policies that you are comparing. Buying a health insurance policy is very easy now, with all the information at your fingertips. You can avail health insurance in a very hassle-free manner online.

Get hold of the right health insurance policy today and safeguard yourself and your family from future healthcare costs and emergencies. Check out comprehensive health insurance plans at