How many times have you heard things like – “Age is just a number”, “You are only as old as you think”, “You are young as long as you are young at heart”. Sounds good to hear but in reality, we all know this is not how it works. As we age, our minds and bodies undergo a host of changes. While age makes us wiser in terms of life lessons and experiences, it also takes a toll on our physical health.
Things are different when you are younger. You live a relatively low-stress life, have a healthier mind and body and are less likely to face major health issues. Hence this is the apt time for you to explore and buy insurance for you and your near ones. So that as you age and require medical attention, your health insurance will take care of the financial needs at the time.
Let’s now take a look at the advantages of purchasing a health insurance policy at the right age.
The right age and right time is now
As you start aging, health insurance is not easy to buy since you may already face health issues. It has to be purchased in advance to secure your savings from any medical emergencies that may come up in the future. Buying a health insurance plan at an early age is a wise decision as it often comes with a host of benefits.
some of the advantages of buying a plan while one is still young.
- Lower premium amount
An individual’s age proves to be a vital factor when calculating the premium of a health insurance policy. An older individual is more vulnerable to illnesses in comparison to someone of a younger age. Thus, insurance providers consider younger individuals under a lower liability category, resulting in a lower premium price for their insurance policies.
- Enhanced coverage for claim free years
Every time you have a claim free year, you get rewarded with a cumulative bonus. As you renew your health insurance, cumulative bonus comes to you in the form of enhanced coverage year on year.
- Waiting period advantage
All Health insurance policies have a waiting period for specific diseases. During this waiting period you will not be able to raise a claim against those specific diseases . When you are younger chances of being affected by a serious illness are lower and hence as you keep renewing your policy, these specific illnesses also start being covered under the plan and if you do need to raise a claim, it will be honoured. So chances are that a younger person will not raise a claim for a serious medical condition in the initial years of the policy and will be able to take advantage of the cover for such conditions over time as they keep renewing.
- Medical check-up may not be required
Several insurance providers may not require younger applicants to even undergo a medical check-up before purchasing a health insurance policy, thereby ensuring much faster processing of the policies. That is because they consider that individuals are less likely to get a complex health condition at a young age.
Now that we know and understand the importance of age in purchasing a health insurance policy, let’s also talk about how simple it is to buy a health insurance policy on the Bajaj Finserv app.
Anywhere, Anytime insurance with the Bajaj Finserv App
The Bajaj Finserv App is a high utility App that takes care of all your financial needs including insurance. On the app, you can explore benefit rich health insurance plans from our trusted partners. Here you can view product features, compare prices and purchase a plan that is best suited to your needs. All this in a matter of minutes and from the comfort of your home. It truly is becoming the new way to buy insurance. If you or your family are still to experience the security of health insurance, login to the Bajaj Finserv App and get started now