When Shalini was first told about her cancer diagnosis, she was too shocked and devastated to think about how she could afford the treatment. However, she soon realized that fighting cancer not only needed a lot of mental and emotional strength, but also a lot of money. Thankfully, she had health insurance! Shalini immediately began her cancer treatment and the follow-up care without having to worry about whether it would burden her family’s finances.
When Shalini started working a few years back, she decided to invest in her future. She got her health insurance online, ensuring that her medical future would always be secure. Here is a look at why you too should get health insurance for yourself and your family.
Free Yourself of Financial Burden
Cancer treatment in India can be a complete nightmare for any Indian middle-class family. Depending on the stage and area affected by cancer, treatment can cost lakhs of Rupees.
Accordingly to a recent study, a cancer patient spends an average of Rs. 14,597 before coming to AIIMS for treatment. This is followed by a weekly expenditure of Rs. 22,215 for radiation. In most cases, you’ll also have to spend money on additional treatment like chemotherapy and surgery. This increases the expenditure even more and ends up draining the financial resources of the patient’s family. Many people are left with no choice but to sell their assets and take massive loans to cover the medical costs. Some people just end up stopping their treatment because of the lack of funds. Therefore, in order to prevent such medical and financial disasters, it is important to get health insurance.
Take a leaf out of Shalini’s book and invest in a policy with good coverage. This will ensure that if a medical emergency ever strikes, you won’t have to worry about something like money instead of your well-being.
In India, experts have observed that people with insurance tend to go for regular medical check-ups. This helps in early diagnosis and treatment of diseases like cancer, thereby improving the effectiveness of the treatment and the overall survival rate. If you don’t have insurance, you might feel hesitant to walk into a doctor’s office because you’ll always worry about the medical bills. Not being diagnosed intime can be the difference between life and death. So don’t delay this any further. Like Shalini, you too can apply for this medical insurance online from the comfort of your home, and free yourself of future stress.
The Earlier The Better
When you are young and aren’t suffering from any medical complications, getting a health insurance is highly cost effective. The plans have comprehensive coverage, and the premium is low. The older you get, the faster your health starts to deteriorate and the plans available to you will be more restricted. Many insurance companies may not only ask for higher premiums, but also exclude pre-existing conditions in their plans.
Luckily, online insurance providers provide comprehensive coverage for you and your family, with no restriction on maximum entry age. Furthermore, there are coversfor pre-existing illnesses after 2-4 years depending on the plan. The sooner you apply for your health insurance, the better it is for you and your kids.
Secure Your Kids
Though many people may not realize it, getting health insurance for children is essential. As terrible as it may sound, children too can fall ill. Treatments like radiation and chemotherapy usually weaken a child’s immune system, thereby making him/her prone to life-threatening infections. Even if a family can afford the drugs and the treatments, complicated infections may eventually take a toll on your finances.
Taking out an insurance policy doesn’t mean that you are expecting the worst to happen to you or your family members. It means that you are hoping for a happy and bright future, but doing your best to secure it.
Health Insurance Tax Benefits
Under section 80D of the Indian Income Tax Act, premiums paid towards health insurance are eligible for tax deductions. The amount earlier was Rs. 15,000, but it has now been increased to Rs. 25,000. Financially, opting for an insurance policy makes complete sense. You will be paying small amounts toward monthly premiums, and saving on tax while doing so.
“Right now” is the right time to apply for medical insurance! Learn from Shalini, so that you can save yourself and your family from potential financial headaches. Browse the internet to find the right plan, and then apply for a mediclaim policy online.
*Guest Post By Meera
image source: Icici Lombard