National Youth Day: The age of 20 to 25 is a very exciting turn of life. At this age, we plan our career, there are many aspirations, goals. On one hand, there are many expenses and on the other hand the burden of student loans on some youth. One should be focused on financial planning from his youth. Along with saving, it is also important for the youth to be aware of the importance and benefits of health insurance. Health insurance helps you in reducing the burden of expenses in a medical emergency, as well as an advantage of taking it that deduction can be claimed under Section 80D of Income Tax Act.
Along with knowing the benefits of health insurance to the youth, it is also important to stay away from some misconceptions related to it. On this National Youth Day, we are telling you about some such misconceptions…
Youth do not have health complications, so health insurance can be avoided later.
It is true that health problems increase with ageing. But it cannot be assumed that the youth will not have any health-related problems. Modern life and lifestyle are changing rapidly. Also, tensions and challenges related to it are also coming out. No one can now make the connection of diseases and age.
There is also a fact that an incident like accident can happen at any age. In such a situation, health insurance also gives cover. Despite being young and healthy, taking health insurance is also important because as age increases, health problems can increase and then it will become difficult to get insurance. Even if insurance is available, then it will have some scope and premium will be high.
Often, young people assume that they are single and young, so health insurance is not a priority for them.
Whatever be the marital status, health insurance is important. Most insurance plans are such that changes can be made according to the changing needs of life. For example, if you have got health insurance before marriage, then the cover can be changed after marriage and you can also include your spouse in it. Apart from this, if your parents are dependent on you, then they can also be covered by the family floater plan.
Companies also insure their employees, so youths do not have to get separate health insurance.
A company provides you insurance cover only as long as you are its employee. When you leave the company, the cover is also missed. Also, certain restrictions apply with the health insurance policy of the company like Limited Sum Insured. Along with the company’s policy, it is also necessary to provide separate health insurance to the individual for himself and his family. With this, you will have insurance available even if you change your job or leave. Do not forget that individual health plans can be purchased according to the needs of your family and family, but the insurance of the company will be as per its rules.