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Reasons To Buy Personal Health Insurance Cover


With the constant increase in medical expenses, and with the ever-rising cases of diseases, personal health insurance today is a necessity. Personal health insurance works as a financial backup for you at times of medical emergencies. Uncertainties and risks related to your health are a part of life. You cannot plan and get sick, but you can certainly prepare yourself regarding the financial aspect. Buying personal health insurance is one of the ways to be financially prepared against such medical emergencies.

There are numerous reasons to have personal health insurance to protect yourself and your family financially in case of a medical emergency. Here are the significant reasons for you to get personal health insurance:

Change In Lifestyle

There are a plethora of reasons for you to buy a health insurance policy, and a change in lifestyle is one of them. Our lifestyle has changed over the years due to globalization and industrialization, which has made us more prone to health issues. Hectic work schedules, commuting, lousy eating habits, rising levels of pollution, and quality of food have increased the risk of developing health problems.

Rise In Medical Costs

Everyone is aware of the rise in medical costs, which has dramatically increased lately. So, in case of a medical emergency, you end up spending your life’s savings, which you might have saved for your child’s education, to buy a new car, to go on a trip. The medical emergency takes a toll on your plans. Buying personal health insurance will cover your medical expenses and hospitalization bills, and you no longer have to depend on your savings to tackle health emergencies.

Tax Benefits

Premium paid towards personal health insurance are eligible for tax deductions under section 80D of the Indian Income Tax Act, 1961. Up to the age of 60 years, you can claim a deduction on the premium paid of up to Rs. 25,000/-. If you buy personal health insurance for your parents aged 60 or above, you can also claim another Rs. 50,000/- as a deduction. Getting tax benefits with financial support is just like a cherry on the cake.

Covers Pre And Post Hospitalization Expenses

Personal health insurance will not only covers mainstream medical expenses but also the cost of OPD (out-patient department) fees and diagnostic tests, which have also increased in recent times. As per the terms and conditions of your health insurance provider, expenses incurred towards OPD and diagnostic tests are also covered before and after a stipulated period. Health insurance companies these days also offer coverage for day-care surgeries, ambulance coverage, for health check-up and vaccination expenses under one policy.

Purchasing personal health insurance should be an integral part of your financial planning. Also, while buying insurance, consider buying critical illness insurance as well. A critical illness cover offers to pay a fixed sum in case you are diagnosed with an illness that is covered by your insurance provider.

Get personal health insurance today and secure yourself and your family from the financial burden. Many reputable insurance companies offer health insurance that covers medical expenses and hospitalization bills in the time of emergency.

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