Buying Health Insurance Early: Know Why It Is Important

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Health Insurance

People often think that buying health insurance later in life is okay but one needs to understand that if the threshold is crossed, there are risks of proposition.

Health Insurance

Cases Where Health Insurance Is Denied

Health insurance is denied in many cases including genetic disorders such as Parkinson’s and substance abuse-related health issues.

Health Insurance Is Denied

Other Cases

The other cases include unproven medical treatments like fertility procedures or cosmetic surgeries, high-risk occupations like mining or truck driving and repeated risky or unlawful behaviour, including traffic offences.

Cases

Pre-Existing Diseases

For pre-existing diseases, a health insurance plan has a waiting period which ranges from 2 to 4 years. 

Diseases

Insurance After Diagnosed Diseases

For the insurance which is taken after the disease is diagnosed, one might have to pay and use money out of their own pockets for the particular disease. 

Disease Coverage

Buying Insurance At Young Age

1. Lower Premiums: The younger and healthier one buys the insurance, it often gets to lock in lower premiums.

Healthcare Insurance

2. Comprehensive coverage

If the insurance is bought at an young age, one is more likely to get coverage without medical exclusions.

Coverage

3. Waiting periods run out early

One can wait for the insurance waiting period, when healthy.

waiting time

4. Wellness rewards

There are also rewards like discounts of up to 100 per cent on premiums by insurers for maintaining good health.

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