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Why should you buy health insurance in your 20s?
A thread
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A thread
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If you're presently in your 20s, you've probably started planning out your finances.
And although many of your friends might've begun their investment journey, here's what no one talks about- protecting your downside, a.k.a 'insurance.'
And although many of your friends might've begun their investment journey, here's what no one talks about- protecting your downside, a.k.a 'insurance.'
Makes sense, right?
"Why would I need insurance when I'm young and healthy?"
But believe it or not:
1 in every 5 heart attack patients is below 40.
1 in every 4 people below 25 is diagnosed with type-2 diabetes.
"Why would I need insurance when I'm young and healthy?"
But believe it or not:
1 in every 5 heart attack patients is below 40.1 in every 4 people below 25 is diagnosed with type-2 diabetes.
And here's something you might not know- if you develop a critical illness early on, insurers might not extend you a policy altogether! Sheesh!
So it may be prudent to buy health insurance in your 20s. And this move comes with a few advantages too...
So it may be prudent to buy health insurance in your 20s. And this move comes with a few advantages too...
1.) Low Premiums: Since the insurer is at a lower risk of getting claims, you can get a large cover at low premiums.
2.) Coverage: If you make a run for a policy when you contract a major illness, insurers might be unwilling to cover you or they might put a permanent exclusion.
Buying a policy while still young & disease-free allows you to avail a comprehensive cover without any hassle.
Buying a policy while still young & disease-free allows you to avail a comprehensive cover without any hassle.
3.) Waiting periods: You cross the waiting period for illnesses well in advance by buying early. Later on, you can fully avail benefits if the need arises.
4.) Protecting your downside: Since you're still in the process of building up your finances, an insurance plan will make sure a hospitalization doesn't eat into your savings.
Also, news reports claim that health premiums might rise soon. So you can consider locking in longer-term premiums now to avoid the price hike.
And if you're looking to buy a policy, talk to @joinditto & you'll have the best advisors at your fingertips- https://bit.ly/3xOxcCm
And if you're looking to buy a policy, talk to @joinditto & you'll have the best advisors at your fingertips- https://bit.ly/3xOxcCm
