How Health Insurance Can Help You Lead a Healthy and Stress-free Life?

Raagini Samrat, a 29 year old single woman had everything going right for her. She had a high paying job, an excellent social life and support of great parents who had raised her into an independent, smart and confident woman. Coming from a family of really strong women, Raagini knew that she had to establish herself and become financially independent. Although not averse to the idea of marriage, her own parents being happily married for 35 long years, she always felt she had to achieve more before making the big decision of her life. However, when her mother, aged 58 was diagnosed with breast cancer her entire world rocked. To see a close member of a family battle a deadly disease like cancer was quite shattering. At the same time, the mounting expenses of the treatment that even forced her father to sell their ancestral property put immense financial pressure on her otherwise affluent family made her realize the value of health insurance.

Health Insurance

It is estimated that nearly 2.5 million people in India are living with cancer. This inevitably means that millions of people in the country are bogged down by the astronomical cost of cancer treatment. As in the case of Raagini’s family, it is not an uncommon sight for families to use up their savings or sell their assets to fund treatment for life threatening disease like cancer. Mounting health cost can make life quite stressful for any family or person. It can push families to the brink of poverty at the same time puts immense stress on personal relationships. On the contrary, a family has a comprehensive health plan will not worry about the cost of treatment, in case an uncalled medical emergency arises and instead their sole focus would be to see their loved one recover from the illness. Therefore, it’s not presumptuous to link health insurance with healthy and stressful living. Here’s why.

You Don’t Shy Away from Screening & Medical Tests

The two leading cause of diseases like cancer, diabetes and cardiovascular ailments is genetic predisposition and lifestyle. All these diseases also happen to be the most preventable cause of death. However the health statistics have a different story to tell. As per a newspaper report, 1,300 persons die of cancer each day. Health experts opine that regular health screening and can not only prevent the onset but also assist in early diagnosis of the disease.

Many Indians do not go for regular health checkups because their fear the diagnosis of a disease which would eventually entail high medical expenses. However, one will be immune to such fears if he or she possesses a formidable health insurance plan that has a good sum insured and a critical illness cover.

You Only Go for the Best Treatment Option

When you take a health policy, your insurer will share a list of network hospitals and clinics that will offer you the benefit of cashless hospitalization and treatment. Therefore, if you are faced with any kind of health emergency, your health insurance policy will ensure that you get the best available treatment.

In case of special care and treatment, your insurer can also guide you with which hospital to visit. In short, you don’t have to worry about the choice of hospital and will exactly know where to go in order to seek treatment.

You Can Save Money and Improve Investment Options

Asset creation and financial independence is very important to lead a comfortable life post retirement. Buying a health insurance policy at a younger age and renewing it every year will not only make you feel less concerned about rising health cost it will also help you save tax. Under the section 80 D of the Income tax Act, individuals who have taken a medical insurance policy are subject to tax deductions. Therefore, while your health stays protected, the money you save can be used for other investment options like term insurance, fixed deposit or SIP.

Life is unexpected and a single episode of medical emergency can be stressful and financial draining. In order to lead a stress free life one must adopt a healthy lifestyle. This practice can significantly reduce the risk of onset of diseases. However, sometimes despite best efforts people fall prey to life-threatening ailments. At the same time hospitalization due to a non-threatening disease can put incur a dent in the pocket. Prudence demands that one must always be prepared for the unforeseen circumstances in life and a health insurance plan should be part of the deal.