Why You Should Consider Getting Health Insurance in Your 30s and 40s

livemint.com:

health insurance helps in saving taxes and provides financial assistance for medical expenses. As a result, you do not have to dig into your savings in case of medical emergencies. Ultimately, it helps you save money in both ways.

Moreover, with the increasing cost of medical expenses and the unpredictable nature of health issues, it is important to have a strong financial backup that can help you sail through these difficult times. Know about the benefits of health insurance, the ideal coverage to have, and more below. Comprehensive coverage for medical expenses: A good health insurance policy covers a range of medical expenses.

You get coverage for hospitalisation costs, diagnostic tests, surgeries, and more. Moreover, some policies also cover pre- and post-hospitalisation expenses, making it easier for you to manage your finances. Cashless treatment: One of the biggest advantages of having health insurance is the cashless treatment facility.

Under this, you can get treated without paying any cash, as the insurer pays for the health expenses directly to the network hospital. Financial backup: Health insurance acts as a strong financial backup during medical emergencies. So, you do not have to worry about the high costs of medical procedures and treatments.

This helps you to focus solely on your recovery and well-being. Tax benefits: Health insurance policies also offer tax benefits under Section 80D of the Income Tax Act, allowing you to avail of a deduction up to Rs. 25,000 per annum on the premiums paid.