Here’s why you should buy Critical Illness insurance in your 20s

A whole range of Health Insurance benefits are available out there. In this article, we will help you to understand why you should buy Critical Illness insurance in your 20s.

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Here’s why you should buy Critical Illness insurance in your 20s

For most people, being in their 20s is a time where they are in a carefree phase and do not have a worry in the world. This is certainly not the time where one would worry about getting a Critical Illness health insurance policy. You probably are in the best shape of your life and are enjoying every moment.

However, it is important to remember that this is not a phase that will go on forever. Once you cross a certain age, you will have to alter your lifestyle as you grow older. Since our environment is affected by heavy pollution, every one of us is prone to health complications and diseases. This is why it is so important to start thinking about a Critical Illness health insurance policy from a young age.

Everyone has to start somewhere small. Your 20s would be a phase where you just start working and slowly build your way up. This means that come a medical emergency, you might not have a sound financial backup. Even if you do, you would not want to take a hit on your hard-earned savings. This is where a Critical Illness health insurance policy can help! Take a look at 3 great benefits you can enjoy upon purchasing a Critical Illness health insurance policy in your 20’s:

1. You can get lower premiums

One of the most important reasons why you should buy a Critical Illness health insurance policy when you are in your 20’s is because you may be able to reduce your insurance expenses. Since you are young and most likely without health complications, insurance companies would offer you the best rates for their products. This is because the premium of your Critical Illness health insurance policy would be based on your age and health status, and since you are not a risk to the insurance provider, you can get an insurance policy at a lower premium.

2. No need for medical examinations

The best part about most Critical Illness health insurance plans is that you do not even have to undergo a medical examination in order to buy a plan. Most insurance providers do not require you to take a medical examination below the age of 45 years.

3. You can get tax deductions

When you buy a Critical Illness insurance policy, you can get health insurance tax benefits too! According to Section 80D of the Income Tax Act, you can claim tax deductions on the premium you pay for your policy. This way you save a lot of money and also stay financially secured in case of any medical emergency.

After reading these benefits, it would not be so unusual to think about your Critical Illness insurance policy, would it? Also, with the processed food we eat, unhealthy lifestyles we lead, and a lack of exercise to balance the good with the bad, diseases such as liver failure, heart attack, cancer, and so on have become quite common.

This is why it is advisable to go for a Critical Illness health insurance policy to be financially covered from a young age itself. We hope that this has been a useful read, all the best!


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