Better health coverage is important...

Your health is the most important asset you have. Without your health, you can’t really do much else well.

“Will my family be able to afford the medical coverage they might need?”

“Will I lose everything if I get sick?”

“Why does it seem that I pay more for my healthcare than my insurance company?”

Having less than adequate health insurance coverage is stressful.

India is attracting thousands of people for medical treatment as we have the best doctors, best hospitals and best medical infrastructure. However, those residing in India, at times, are not able to get their loved ones treated well. Why?

Because many in India do have health insurance but it is often inadequate.

When the maximum cover is Rs. 3 lakh or Rs. 5 lakh, but a transplant is Rs. 15 lakhs - Rs. 35 lakhs and cancer treatment is Rs. 8 lakhs to Rs. 20 lakhs, your insurance may be inadequate.

Here are six crucial reasons why you need to consider getting an adequate health insurance:

1. To fight lifestyle diseases

Lifestyle diseases like diabetes, obesity, respiratory problems, heart disease, all of which are prevalent among the older generation, are now rampant in younger people too. Some contributing factors that lead to these diseases include a sedentary lifestyle, stress, pollution, unhealthy eating habits, gadget addiction and undisciplined lives.

2. To safeguard your family

When scouting for an ideal health insurance plan, you can choose to secure your entire family under the same policy rather than buying separate policies. Consider your ageing parents, who are likely to be vulnerable to illnesses, as well as dependent children.

3. To counter inadequate insurance cover

If you already have health insurance (for example, a policy provided by your employer) check exactly what it protects you against and how much coverage it offers. Chances are it will provide basic coverage. If your current policy does not provide cover against possible threats - such as diseases or illnesses that run in the family - it could prove insufficient in times of need.

4. To deal with medical inflation

As medical technology improves and diseases increase, the cost for treatment rises as well. And it is important to understand that medical expenses are not limited to only hospitals. The costs for doctor's consultation, diagnosis tests, ambulance charges, operation theatre costs, medicines, room rent, etc. are also continually increasing. All of these could put a considerable strain on your finances if you are not adequately prepared.

5. To protect your savings

While an unforeseen illness can lead to mental anguish and stress, there is another side to dealing with health conditions that can leave you drained – the expenses. By buying a suitable health insurance policy, you can better manage your medical expenditure without dipping into your savings.

6. Insure early to stay secured 

Opting for a health insurance early in life has numerous benefits. Since you are young and healthier, you can avail plans at lower rates and the advantage will continue even as you grow older. Additionally, you will be offered more extensive coverage options. Most policies have a pre-existing waiting period which excludes coverage of pre-existing illnesses. This period will end while you are still young and healthy, thus giving you the advantage of exhaustive coverage that will prove useful if you fall ill later in life.

You have a choice!

Get it right, today.

Having the comfort and satisfaction that any illness will not bankrupt you and your family and you will be able to provide the best treatment for your family is of most important. I am sure you would have the right coverage, however, if you do not, get it checked at the earliest. Afterall, Health is Wealth.

Warm regards,

Tejas Lakhani