Questions Personal and Family

Why is health insurance important?


Dipti Singh

Do not ignore your own potential

In today’s disease-prone and unhealthy world, visiting a doctor or hospital have become a routine. The cost that deals with medical checkups have risen to an enormous level that even rich people depend on health insurance. Thus, having health insurance is really important. Below are some of the points that justify this:

  • Financial Stability

In case of emergency medical expenses, you may find yourself in a complete loss if you don’t have health insurance. But having health insurance makes you sure of your money as the health insurance companies will pay most of the expenses.

  • Best Treatment Every Time

Having health insurance is a blessing when it comes to getting the best treatment. Even with fewer funds, you can get the best possible treatment with the latest medical equipment. 

  • Preventive Care all round the year

By having health care insurance, greater are your chances to receive check-ups every month. With that, you can even avail diagnostic tests and prevent severe medical conditions long before they actually arise. 

  • Lesser Mortality Rates

Life is truly unpredictable, and anything can happen at any point in time. According to research, Americans who had health care insurance had fewer mortality rates when compared to people who didn’t have one. 

Also, people who don’t have health insurance lack tracking their health conditions on a routine which may lead to severe health issues.

  • Benefit on Income Tax

Payments done towards health insurance are eligible for tax deductions. Under section 80D of the Income Tax Department, people above 60 years can claim Rs. 25000 for overall cost deduction. 

Also, if you buy a premium health insurance for your parents who are above 60 years, parents are eligible for Rs. 50,000 deduction. This deduction applies to annual health insurance of the premium category. 

Read more:  What is the difference between mediclaim insurance and health insurance?

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