Types of Health Insurance Covers That You Should Consider Buying in Your 20s and 30s

Health insurance has become a necessity nowadays. A considerable part of our population that used to ignore it in the past now understands the importance of good health covers. However, when it comes to buying medical cover for your individual self or family, you must take a number of important factors into consideration such as the age when buying the policy, pre-existing diseases, etc. among others.

It's always a wise idea to buy health insurance at an early age since it comes with a pack of benefits that you will only understand thoroughly with the passing of time. Now let's consider a number of plans if you're opting for health cover in your mid/late 20s or 30s.

You can consider the following if you buying are a health cover in your mid/late 20s, considering you are single, owner of good health and lead a healthy lifestyle.

Even though you may not feel the need for a medical insurance plan at this age, it is always better to be prepared for any medical emergency coming out of the blue, isn't it?

Basic Health Insurance Plan

In your mid or late 20s, you will need an individual indemnity plan that provides widespread hospitalization covers. It is prudent to check whether OPD treatments are covered under the plan you are buying. You may also search for a plan that increases the cover with age and inflation. In this context, Arogya Sanjeevani Health Insurance is a good option given that it is your very first health plan at a young age as a bachelor.

Cover Size

• ₹ 5 Lakh, if you are living in a metro or Tier 1 city
• ₹ 3 Lakh, if you are living in a Tier 2/3 city

Accident Disability Plan

If you have a job and lead an active, adventurous lifestyle, it is always a good idea to consider buying this plan in order to cover the possibility of unforeseen accidents and the loss of income it could result in.

Cover Size

• ₹ 20 - ₹ 25 Lakh health cover will do.

You can consider the following if you are buying a health cover in your mid/late 30s, considering you are married and have children.

At this stage of life, it becomes much important to safeguard your entire family against any sort of health risks. You may increase your health cover by either buying a single, big health cover or by opting for a small basic health insurance policy and then supplementing it with a top-up plan. The last one is a better option given that it will be cheaper in terms of the premium that you will be paying.

Family Floater Plan

Family floater plan should be given a special thought since it covers all the members of the family. However, the premium of this type of health cover basically depends on the age of the oldest member of the family. If you are buying a family floater plan, make sure the plan covers maternity benefits and provides with post-natal coverage to the newborn child.

Cover Size

• ₹ 5 lakh, if you are living in a metro or Tier 1 city
• Rs 3 lakh, if you are living in a Tier 2/3 city

Top-up Plan

Let's assume that you have purchased a ₹ 20 lakh top-up health cover along with a deductible of ₹ 5 lakh. In this case, the top-up will kick in only after the ₹ 5 lakh has been completely exhausted. So if your incurred cost of medical bills is ₹ 10 lakh, the basic health cover will take care of ₹ 5 lakh, and remaining ₹ 5 lakh will be paid through the top-up plan.

Cover Size

• ₹ 20 lakh, with a deductible of ₹ 5 lakh given that you live a metro or Tier 1 city
• ₹ 10 lakh, with a deductible of ₹ 3 lakh given that you live in a tier 2/3 city

Accident Disability Plan

It's advisable to continue with this plan. However, you should increase the cover size of the plan.

Cover Size

• ₹ 25 lakh