Imagine waking up to a medical emergency in your family. The stress is already overwhelming, but now add the burden of unexpected hospital bills. This is where health insurance becomes a lifesaver, not just financially but emotionally as well. Ankur Warikoo, a well-known entrepreneur and finance educator, explains in his video why getting the right health insurance is one of the most crucial financial decisions you can make.
Why Health Insurance is a Must-Have
Medical emergencies don’t come with warnings. Whether it’s an accident, a sudden illness, or an unforeseen surgery, the costs can be staggering. Health insurance ensures that you don’t have to drain your savings or take on debt to afford quality healthcare. Warikoo emphasizes that buying health insurance early can save you from the rising costs of medical treatments while ensuring that your claims get approved easily.
The Right Time to Buy Health Insurance
Warikoo stresses that the best time to buy health insurance is when you are young and healthy. Why? Because:
- You get lower premiums.
- Your chances of claim rejection are minimal.
- You can accumulate benefits like a No Claim Bonus (NCB), which increases your coverage every year without extra costs.
- Pre-existing diseases, if any, are covered after a waiting period, which means the sooner you start, the better.
Corporate vs. Personal Health Insurance
Many people rely on their company’s health insurance, assuming it’s sufficient. However, Warikoo warns that corporate health insurance is not enough. What happens if you change jobs or retire? That’s why having a personal health insurance policy is crucial. He strongly advises getting an individual plan and then expanding coverage for your spouse, kids, and parents over time.
Key Features to Look for in a Health Insurance Plan
To choose the right plan, Warikoo suggests looking at these factors:
- Claim Settlement Ratio – A higher percentage means the insurer is more likely to approve your claim. He highlights Reliance General Insurance, which boasts a 100% claim settlement ratio.
- Waiting Period for Pre-existing Diseases – Some plans cover pre-existing conditions after three years, while others take longer. Choose wisely based on your medical history.
- Coverage Amount – A minimum of ₹5 lakh coverage is recommended to handle major medical expenses.
- Maternity Benefits – If you plan to start a family, check if the plan covers maternity expenses and what the waiting period is.
- Annual Premium vs. Benefits – Don’t just go for the cheapest plan. Compare what benefits you get for the premium paid.
- Cashless Hospital Network – Ensure that the insurance provider has a wide network of hospitals offering cashless treatment to avoid reimbursement hassles.
How to Compare and Buy the Best Policy
Warikoo demonstrates how to compare different plans on PolicyBazaar. He sorts them based on claim settlement ratio, premium costs, and coverage benefits. While some plans may look affordable, they might lack essential features like maternity coverage or pre-existing illness benefits. On the other hand, premium plans like “Health Infinity” offer comprehensive coverage, including global treatment options.
Final Advice – Don’t Delay Health Insurance!
Warikoo ends the video with a strong message:
“Before you start investing your money to grow your wealth, secure your health first.”
Skipping health insurance is a financial mistake many regret later. Start with your own policy, then add your spouse, children, and parents. The best investment you can make is in your family’s health security.
So, are you ready to take the step toward financial and health security? Don’t wait until it’s too late!
Hi, my name is Pandit Katvate. I am an experienced blogger and YouTuber with more than five years of experience. Here on https://popglare.com/en you will get all the trending news and celebrity gossip of Hollywood.
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