Over the years we have seen a rise in lifestyle related diseases, thanks to our sedentary lifestyle but had never been so serious about this. In today’s scenario where this pandemic had hit us hard, it made all of us think about the importance of Health. The famous saying “Health is Wealth” is truly apt for the current situation. On one side where we have to work on being healthy, on the other side we also have to see our finances are in place, because they can be seriously affected if any health issue arises. So, having a Health Insurance is must and an hour of need. Why so? Well, let us look at the following five points to understand why-

1.Emergency Funding: Now a days everyone wants best treatment in best hospitals by best doctor, Right? But everything that is Best comes with a cost that’s why no doubt medical facility cost is on high. So, when you have a health Insurance you will receive best medical facility without overburdening your finances. It provides protection against high medical cost thus act as emergency funding in your hour of need.

2.Your savings will not wipe up: We all are aware about high medical cost. In case you don’t have health insurance, medical crisis to anyone in family may bring a big blow to your savings. Whereas for your health insurance plan you have to pay a small amount every year as premium to safeguard your savings. And this small investment towards your health insurance is peanut as compared to chunk of your savings that will get wiped out at one time getting admitting in hospital.

3.Option to choose better hospitals: We all have our own limitations in terms of funds available. But having a health insurance provide you an option to choose among the list of best hospitals. No one wants to compensate on treatment, so, a good policy will provide you many more options to choose from their Network Hospitals.

4.Consultancy with panel doctors: Usually it is tough to find out that whether our treatment is going on in right direction or not. It is difficult to find the right doctor who can provide us second opinion on whether our treatment is going fine or not. So if you have health insurance, then your Insurance provider can get you a consultancy with their panel doctors if you wish to. They will give you right information about the treatment as they don’t have their personal interest/ bias in it.

5.Tax Benefit: Health insurance plans also provide tax benefits. Whatever the premium is paid towards the health insurance policy is eligible for tax deduction under section 80 D of the Income Tax Act. up to Rs 25,000 for the person, spouse, and dependent children. In case if the person is having dependent parents who are not a senior citizens then he is eligible for an extra tax deduction of Rs 25,000 and in case if dependent parents are a senior citizens then for Rs 50,000, he is eligible for.