Crossed 40? Now Is the Time to Update Yourself with a Comprehensive Health Insurance Plan
Published On Apr 12, 2019, Updated On Feb 11, 2021
Your 40s usually come with a few quite essential milestones. While turning 40 can make you feel a little old on the inside, but perhaps it is the result of the hard work you did in your career. At this point in time, you may be finally at a place where they can afford the lifestyle they’ve always wished to have luxuriously.
But to keep this satisfaction intact, just stop for a while before getting too cosy and make sure you have the proper health insurance plans in place. But don’t worry as now is the time that your hard work will pay off. So, if you don’t have health insurance or know where your current policy is lacking, now is the time to do something about it. Let us see how:
Aren't you insured yet?
Considering the fact that 80% of the Indian population is uninsured, it won’t be a matter of shock if even you aren’t yet. But don’t leave yourself in despair. Instead, plan immediately to buy a comprehensive health insurance .
Things to consider before purchasing a health insurance plan
A plan with extensive coverage is definitely the preferable one. It becomes important to look for wider coverage in the 40s for the obvious reasons easily catch an illness and prone to chronic ailments. Considering the aspect of inflation, one should not compromise on the coverage level.
What you must look for is the list of coverage and exclusions carefully to choose a plan with a lesser number of exclusions and without capping on the expenses covered. Put the SI and the coverage list together to compare and go for a decent premium. To get yourself covered under an affordable health insurance plan, you can always buy a top-up or super-top up plan.
2. Waiting period for a pre-existing illness
While in the 40s if you are planning to get insured, you might have not been caught by ailments such as diabetes, hypertension etc. But these illnesses are termed as pre-existing ones and might not be included for the initial few years from the coverage of your health insurance policy.
These initial years are termed as a waiting period in the health insurance sector. So, checking the waiting period is essential so as to choose a plan that comes with the least waiting period in order to buy comprehensive coverage soon.
Have already got a health insurance plan?
Well, if your answer is yes, then cheers for buying and continuing it! But what is more important is, reviewing your current plan carefully and review the coverage features and amount of the plan to know the changes to be made in it or if you require to buy a new health insurance plan.
Before reviewing your policy, consider these things
1. Coverage features
It may be the case that when you purchased your current health insurance policy years before, innovative options of coverage were not available then. So, to make the most of the new options in the market, review the features of your health insurance plan against them.
For example, if you notice that the auto restoration option (that restores your SI if it is exhausted) is missing from your plan or the plan is not providing international coverage then you can easily port to another plan if the feature cannot be added in your current one. Old plans can be ported if you are not happy with them or see better benefits in health insurance plans offered by other health insurance companies.
2. Coverage Amount
You definitely need to increase the amount of coverage in your current health insurance plan if it is low as the coverage calls for a disaster. You can opt for a super top-up plan as it will be easy on the pocket and will solve the coverage issue too.
Fortunately, shopping for health insurance plans has changed dramatically in recent years. Nowadays, you can do it all online within a few minutes and even a fewer number of clicks.
So, be wise and review your current health conditions so that you are ready to beat it when an emergency strikes you or your family. Stay healthy, stay insured!