The momentum of your wealthbuilding journey could take a hit in case of medical emergencies. It not only has the potential to consume all your savings, but can land you in a debt trap as well. Health insurance offers a wider protection net in such cases.
A Critical Factor
While you keep saving and investing diligently, you need to guard your finances against incidents that can derail the process. “Health insurance offers complete peace of mind to the insured. The knowledge that in case of an unforeseen event the economic damage will be covered is enough to reduce stress hormones,” says Abhinav Angirish, Founder, Investonline.in.
“Even if you are in perfect health, your health insurance should play a critical role in your financial planning as it prevents you from dipping into and depleting your savings in case of medical emergencies,” adds Shanai Ghosh, Executive Director and CEO, Edelweiss General Insurance.
“The premium is nothing compared to what you would pay in case of hospitalization… My advice would be to act now, if you haven’t already.”
Deciding The Right Cover
This story is from the September 20, 2020 edition of Business Today.
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This story is from the September 20, 2020 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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