What is the right age to buy health insurance

In India, health insurance is available to individuals over the age of 18. Parents can include their children younger than 18 years under the family health plan.

It's a common assumption that health insurance is not needed for the young and healthy. However, the reality is that experts recommend purchasing a health plan as early as possible.

Here are the top three reasons why we recommend that you purchase health plans as early as possible:

• Enjoy low premiums – The premiums of health plans increase with age. Premiums are calculated based on the health risk of an individual. The higher the insured's age, the greater the associated medical risk, and hence the higher the premium.
• Little to no waiting periods – All health insurance plans come with a waiting period. The insured can apply for a claim only after the waiting period is over. The waiting period can range from a few months up to five years. When you purchase a health plan later in life, you are not only paying higher premiums but also cannot file any claims until the waiting period is over.
• No medical tests – Health insurers require policy applicants to undergo a mandatory whole body health checkup before the policy is approved. However, medical tests are waived for young and healthy individuals who do not have any history of diseases.

The right age to purchase health insurance is the age you are now in. So, don't delay. Click here to avail free quotes for the best medical insurance plans on the market and pick the best one that fits you and your family’s needs.