Top 5 Reasons Why You Need Medical Insurance

We are now aware of how unpredictable the world is because of the pandemic. The whole world was brought to a standstill by just a small virus. As a result, all of us were forced to use our lifelong savings to pay for unexpected and unforeseen medical bills. And of the current date, this fear is far from over.

With high infection rates and the uncertainty of more diseases, everyone has realised the importance and need for medical insurance.

So, what is medical insurance, and why should you need one? Nowadays, the majority of people ask this question. A contract for insurance states that the insurance provider will provide financial assistance to the policyholder in the event of a medical emergency.

If you are wondering how can an insurance plan be of your help, below are five reasons to buy medical insurance today:

To Combat Lifestyle Diseases

Today the world is moving quickly with a drastic lifestyle change. These days the younger population is seen suffering from many diseases that once used to happen more during old age. Diabetics, respiratory problems, obesity, heart diseases, etc., are becoming common.

And one of the reasons behind these diseases is the sudden lifestyle change. Stress, pollution, undisciplined lives, unhealthy eating habits, and electronics addiction are some of the factors that contribute towards these lifestyle diseases.

Although following a disciplined and healthy lifestyle is the easiest way to handle these diseases, unforeseen situations can arise anytime. So, buying a health plan that provides regular medical tests will help catch the illness immediately before it becomes critical.

For Protecting Your Family

Medical crises can happen to anyone, irrespective of age. Therefore, it becomes necessary to ensure your family is protected. While buying medical insurance, look for a plan that covers your ageing parents, spouse and dependent children.

You will feel relaxed about paying medical bills if you have a good plan with the appropriate coverage. So it is advisable to check multiple policies, weigh their pros & cons and opt for the one that protects your entire family.

To Deal with All-time High Medical Expenses

If you think medical expenses are limited to the treatment cost, then it is a lot more than it. Medical expenses are at an all-time high due to the adoption of cutting-edge technologies to treat ailments.

These costs include the doctor’s fee, diagnosis tests, ambulance charges, hospital charges, medicine charges, and much more.

With an insurance plan, you will not have to be stressed about many such expenses. Most medical procedures take care of these expenses giving the policyholder some relief. In unforeseen conditions, the insurer can seek the best medical treatment without worrying about the remaining things.

For Safeguarding Your Savings

You work hard daily to earn a good living for yourself and your family. You save money to achieve your goals like buying a house, vacationing, managing your children’s education or retirement.

But you cannot control your personal affairs if that money is used to pay for unforeseen medical expenses. Hence, medical insurance will help you safeguard your savings to fulfil your dreams.

You can also look for an insurance plan that offers you cashless treatment. This benefit will also save you from the trouble of reimbursement, and the best health insurance company in India will pay directly to the hospital.

Income Tax Advantage

The Indian government has made a special provision for the payments made in favour of medical or health insurance. Paying your policy premium qualifies you for tax deductions under section 80D of the Indian Income Tax Act, 1961.

People up to 60 can get a tax deduction of ₹ 50000 for themselves, their spouse and their dependent children. Additionally, if you buy the medical plan for your ageing parents, you get an additional ₹25000 tax deductions.

The above-stated tax deductions are applicable after paying the premium on the policy. So, if you buy a medical plan for yourself and your parents, you will get a tax deduction of ₹ 75,000 (50,000 + 25,0000).


A medical insurance plan is a need of the hour in today’s date, especially with lifestyle changes. In addition, protecting yourself & your loved ones from any unexpected medical emergencies that can leave you financially overburdened is a must.

You can hunt for a plan that meets your requirements and provides the most benefits. However, before you decide on anyone, check out the programs Niva Bupa offers. They are the leading insurance company providing great insurance plans with affordable premium ranges.

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