Medical emergencies are unpredictable and can generate a financial turmoil that’s hard to  handle, as the current COVID-19 epidemic has shown. Having a solid health insurance plan  has become increasingly important these days. The rising cost of medical expenses also makes  it difficult to afford appropriate medical facilities and hospitalization. This is why obtaining health insurance for you and your family can offer the additional security you require during  such trying times. Other than the obvious advantage of knowing you can support your family  financially in case of an emergency, a health insurance plan can be quite effective in combating  the rising cost of medical care.
  

To combat chronic diseases caused by an unhealthy diet and lifestyle  

The prevalence of chronic lifestyle diseases is rising, especially in the under-45 age group.  Diabetes, obesity, respiratory issues, and heart disease are all common among the elderly, but  they are increasingly becoming frequent among the young.  

To keep your loved ones safe  

Instead of purchasing different policies for each member of your family, you can secure them  all under the same policy when looking for the appropriate health insurance plan. You should  also think about your aging parents, who are more likely to fall ill, and your dependent children.  If something were to happen to them, you wouldn’t have to worry about their medical care if  you had adequate health insurance.   

In order to combat insufficient insurance coverage  

If you already have health insurance, be sure you know what it covers and how much it will  cost you before you get sick. There’s a good chance it may cover only the essentials. You may  find that your current policy is insufficient if insurance does not cover you against hazards such  as diseases or illnesses that run in your family. Medical treatments are always improving, thus  having a larger sum assured ensures that all of your medical expenses will be covered  financially. Do not worry if you cannot pay for a more comprehensive policy immediately.  You can begin with a small amount of insurance and work your way up from there.  

To deal with the rise in medical costs  

Because of advances in medical technology and an increase in disease prevalence, treating  patients is becoming more expensive. It’s also crucial to realize that medical expenses don’t  just apply to trips to the hospital. Doctor consultations, diagnostic tests, ambulance fees,  operating room expenses, medication, and other costs such as room rental are all on the rise. If  you’re unprepared, any of these things could place a significant burden on your money. Paying  an annual fee for health insurance that isn’t prohibitively expensive allows you to avoid the  rising cost of medical care while still receiving high-quality care without fear of financial ruin.  

In order to keep your money safe  

In addition to the emotional toll that a sudden illness can take, dealing with health concerns  can leave you financially strapped. Health insurance can help you keep track of your medical  costs without having to deplete your resources. For those who have cashless insurance,  reimbursement isn’t a problem. Your money can be put to good use by purchasing a home,  funding a child’s education, or funding your own retirement. Furthermore, health insurance  entitles you to tax benefits, allowing you to save even more money.  

 Important links – 

1.https://economictimes.indiatim es.com/wealth/insure/life-insurance/10-common-mistakes-people-commit-when-buying-life-insurance-and-how-to-avoid-them/articleshow/81883327.cms

2.https://www.cnbc.com/2020/01/28/three-ways-to-prepare-your-family-for-the-worst-case-scenario.html