Importance Of Having A Health Insurance

Health insurance is a type of insurance coverage that pays for medical and surgical expenses that are incurred by the person indemnified. These insure you against several illnesses, while assuring that you remain financially secure should you ever require treatment. They eliminate all your worries about treatment expenses and allow you to focus your energy on more substantial things, like getting better.

Health insurance can either reimburse the person insured for expenses incurred from illness or pay the care provider directly. Let us look at some of the important reasons for having a good health policy in your financial planning.


Uninsured people receive less medical care and less timely care- Having a health policy is important and is highlighted in many occasions, especially when you go for a treatment. Unfortunately, if you do not have a health insurance, they ask you to first pay some amount as deposit before they can hospitalize you. And then they keep on pestering you for more money on a timely basis to make sure you can pay them.

Hence a patient with mediclaim will be subject to more tests and care than one without one as uninsured adults get fewer preventive and screening services and on a less timely basis. It has been observed that no mediclaim can lead to more fatal outcomes as inadequate medical care over a long period of time proves to be detrimental for an individual.

Health Insurance also covers pre-existing diseases- The IRDA (Insurance Regulatory and Authority India) has mandated a maximum of 4 years after which your pre existing diseases need to be covered by your mediclaim policy. The probability of a pre existing disease recurring again is more than a new one happening, so it becomes more important to you to have a health cover these days.

Insurance diminishes Financial Burden for an Individual- For individuals and families who do not have proper mediclaim, any sort of hospitalization (a small surgery or something critical) means spending money from their pocket to pay the hospital. With the current medical costs rising year after year in India and worldwide, this can set you back big time.


A health insurance is a necessity for a safe and secure future. Its goal is to protect an individual and safeguard your money and insure your life for medical emergencies. Unlike common myths and misconceptions, health insurance can be cheap and affordable.

You have to remember that health or medical insurance is not a luxury, but a necessity. Paying cash for illnesses or accidents result in losing your hard earned savings. A health insurance plan is the safest way of protecting your health and your savings.


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