Why Buying Health Insurance Early Can Save You Lakhs Later
Health insurance is no longer a luxury—it’s a necessity. Rising medical costs, lifestyle diseases, and unpredictable emergencies can drain your savings overnight. Yet, many people delay buying health insurance until they “need it.” The truth is, the earlier you buy health insurance, the greater the benefits—financially and medically.
Let’s understand why getting health insurance early in life can literally save you lakhs later.
1. Lower Premiums at a Young Age
When you’re young and healthy, the risk to the insurer is lower—so your premium is significantly cheaper.For example, a 25-year-old may pay ₹8,000 annually for a ₹5 lakh cover, while a 40-year-old might pay ₹15,000 or more for the same coverage.
The earlier you start, the less you pay—and the savings continue year after year.
2. No Waiting Period Hassles Later
Most health insurance policies have a waiting period of 2 to 4 years for pre-existing diseases and specific treatments (like knee replacement, hernia, etc.).When you buy young, these waiting periods get over well before you’re likely to need medical treatment.
Result: You enjoy full coverage when you’re older, without worrying about exclusions.
3. Coverage Before Lifestyle Diseases Strike
Diseases like diabetes, hypertension, and heart ailments are becoming common in people as young as 30.If you wait until you develop a condition, your policy might either:
- Exclude it permanently, or
- Charge higher premiums.
Buying early ensures you’re covered before any lifestyle disease is diagnosed.
4. Tax Savings Under Section 80D
Health insurance premiums qualify for tax deductions under Section 80D of the Income Tax Act.
- Up to ₹25,000 deduction for self and family
- An additional ₹25,000–₹50,000 for parents (depending on their age)
So, not only do you protect your health, but you also save on taxes every year.
5. Financial Peace During Emergencies
A single hospitalization can cost ₹3–5 lakhs—or more for critical illnesses.
Without insurance, these costs come directly from your pocket or savings.
Health insurance acts as your financial shield, ensuring you get quality treatment without compromising your future goals.
6. Cumulative Bonus & Long-Term Benefits
Most insurers offer a No Claim Bonus (NCB)—an increase in your sum insured every year you don’t make a claim.When you start young, you accumulate years of NCB, meaning your coverage grows substantially at no extra cost.
Example: The Cost of Waiting
| Age When You Buy | Annual Premium (₹) | Coverage (₹) | Total Premium Paid Till Age 60 (₹) |
| 25 Years | 8,000 | 5,00,000 | 2,80,000 |
| 40 Years | 15,000 | 5,00,000 | 3,00,000 |
| Difference | — | — | ₹20,000 saved (plus years of extra coverage) |
Add inflation, waiting period, and disease risk—and the difference widens even more.
Final Thoughts
Buying health insurance early is not just about saving money—it’s about buying peace of mind.
Early purchase means lower premiums, complete coverage, and financial freedom when it matters most.
Start today, and your future self will thank you for this one smart decision.
Disclaimer
Mutual Fund investments and insurance are subject to market risks and terms of the policy. Please read all scheme-related documents carefully before investing or purchasing insurance.
Disclaimer
Mutual Fund investments and insurance are subject to market risks and terms of the policy. Please read all scheme-related documents carefully before investing or purchasing insurance.
