After the outbreak of Covid-19 pandemic, there were three major trends that have been witnessed. One, there were individuals without any coverage who scrambled to buy new health insurance policies, secondly, there were individuals having health plans, but had inadequate coverage and thirdly, individuals having health insurance policies only in their own name and not for family members.
Buying health insurance has always been looked upon as a risk mitigating tool to tackle increasing medical costs. By paying a small premium, you can buy health coverage, or the sum insured, an amount up to which your insurer will reimburse the hospital. This ensures you do not have to dip into your savings to meet medical bills.
The Covid -19 pandemic has worked as a wake-up call for many individuals after seeing people spend lakhs of rupees on Covid treatment. Many families after getting infected have ended-up spending Rs 15-30 lakh on the hospital expenses owing to coronavirus. People have slowly realized the importance of adequate health insurance. Infections like Coronavirus or any pandemic can be contracted by any person at any age. So, it is better to buy a personal health insurance policy even though you have been covered through the office as you never know how soon you will change your job.
If you are young and healthy, do not procrastinate about buying a health insurance policy. A youngster should not wait to get older or get any chronic illness as it makes sense to buy health insurance when you are young. Many youngsters contemplate buying health cover when they get old. By the time one is a middle-aged person, there could be medical conditions such as high blood pressure, diabetes, etc. and may get a limited cover. The younger you are, lower is the premium and you can buy high cover too.
Denne historien er fra October 2021-utgaven av Investors India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 2021-utgaven av Investors India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
5 Steps To Achieve Your Financial Goals
From a beach house, a Jaguar, to traveling the world – there are many things in life that we want to accomplish.
Microbiome: The Invisible Ecosystem Within us that Safeguards our Health
Imagine being able to heal yourself and build immunity against major diseases without relying on heavy medication. It sounds fantastic, right? Who wouldn’t want that? The key to achieving this lies in a fascinating area of research—our microbiome.
Gold ETFs: Attractive option for retail investors to take exposure to yellow metal
With the equity market experiencing volatility in August, investors are increasingly seeking to diversify their portfolios.
The Retail Revolution: How India's Stock Market Got a Makeover by the Common Man
In the annals of India’s financial history, the stock market has long been the playground of the big boys—mutual funds, insurance behemoths, and foreign portfolio investors (FPIs).
Strategies to adopt when the markets are at a high (for new and existing MF investors)
An investor must have a plan in place and, more importantly, stick to it regardless of shifting market conditions.
A Collaboration to keep Health FirstPNUT and IDA come together as One!
You reap what you sow! And if you sow health, you will reap a healthier tomorrow. Following the same lines, Personal Nutrition (PNUT) and Indian Dental Association (IDA) have come together as partners to promote complete health and nutrition for each individual! How things unfolded? Let’s explore.
Making a choice between equity and debt mutual funds for long-term goals
Mutual funds are quickly becoming a preferred investment choice for millennials.
ASK THE EXPERT
From last Financial Year, I have shifted to the new Tax Regime.
Flexi-cap Fund Vs Hybrid Fund
Investors in mutual funds can choose from equity, debt, or hybrid funds, each offering different risk and return profiles. Flexi-cap funds provide diversification across market capitalisations, while hybrid funds balance equity and debt for stable returns.
Neuroplasticity: You Can Teach An 'Old' Brain New Skill
A few decades ago, it was believed that the brain’s structure and functions were entirely dependent on genetics, age, and early childhood experiences.
