You never know, when would you be a slave to diseases. Moreover, the medical expenses keep compounding with the number of diseases you shelter within. Therefore, having a medical insurance could be helpful to get rid of wallet pinching expenses and thus is advised. Still, if you want to know why is a medical insurance necessary, I’ll be there to brief you the many reasons behind.
- Being Medically Insured prevents you from financial instability by furnishing the medical expenses
Sometimes to meet your medical expenses you need to dig out from your savings. This is could hamper your future expenses like education and so on. Therefore, by having medical insurance you are financially aided with the hospital expenses as per the scheme of your insurance.
- You can get yourself admitted in the desired hospital
Certain medical costs are unaffordable due to high price charged by the hospital. But being medically insured, you need not worry about the medical fees. As a result you can get yourself treated in the hospital you desire to.
- Redeem the coverage of hospitalization charges
Not only the treatment cost, but also the cost of certain test have gone up. The medical insurance, along with the medication cost provides the cost of diagnosis and OPD tests done. This is provided only for a specific period and as per the schemes opted.
- Demand Of The Era
Our life style has a lot to do with insurance we opt for. Over the years, traveling have been in to do list of every citizen. Not just traveling for fun but also for work related activity. As a result of change in diet schedule and exposure to pollution, the probability of being probe diseases increases. Which is why medical insurance has become a need.
- Benefit On Income Tax
The income tax department of India exempt you from a particular percentage of tax in case you have paid the medical insurance fee annually. No matter whether it’s for yourself or your spouse and kids, the percentage will be deducted as per section 80D of Income Tax Act, 1961.
- Plan Better Retirement Days
As mentioned earlier, you never know when would you be a slave to diseases. But, during old age human body is more prone to diseases. And being non-working, a lengthy medical bill can badly screw your savings.
Health Insurance plans comes with a renewability option which could be extended life long. As there’s no age limit mentioned for it. Therefore, having medical insurance done will throw off burdens from your sleeves even if lengthy bills knocks at your door.
Hopefully, everything you desired to know have been covered here. Do not forget to give us your feedback and consult doubts regarding the same. Stay fit and live life king size.