Uncertainties of Health hazards or injuries can hit anyone at any age. Treatment of them may eat into your wealth if not adequately insured, given the high medical inflation. So regardless of age Health Insurance is a must. If one takes a health insurance policy at a much younger age much lower would be the premium and the opposite is also true.
Its unfortunate that 80.9% of Urban Indians do not have any type of health insurance cover other than the government provided. Policies with regards to government provided health Insurance are subjective to change, more so when governments change. Of the 19.1% Urban Indians who are insured 2.9% have only a private employer-sponsored health cover. The costly ignorance of people who have only private employer-provided policy is that the company would not cover you after your retirement, which is actually the period when you need a health insurance the most. If you have serious illnesses when you are 60, when you approach an insurer for a health insurance policy then the premium can be exorbitant or the insurer can even refuse to cover you.
Check if your sum insured from the existing health insurance policy would be sufficient. If not take a top up policy to increase your sum insured.
A 35 year old male can get a family floater Health Insurance cover of 5 lakh for self, spouse and 2 children for an annual premium of just Rs.13000. The same family can get a Top-up policy of 10 lacs cover for annual premium of just Rs.2500.
Mediclaim premiums paid are tax exempted under Sec 80D upto Rs.25000 in a year. For senior citizens the exemption in a year is Rs.50000. Mediclaim premiums paid for dependent parents would also be exempted.
Seek our guidance to take the right health insurance policy with adequate cover.
You can also reach out to us for other general insurance products like vehicle insurance, home insurance etc