Changing Health Insurance Cover According to Life Stages

As our lives go through different phases—childhood, youth, middle age, and old age—each of these teaches us something new, and brings along its set of responsibilities.

Little known fact—our health insurance policies also require changes. A one-size-fits-all policy isn’t a very good idea, as each stage has its unique medical risks and conditions. In keeping with this, health insurance coverage offered by several companies create various insurance plans to accommodate the varying requirements of different age groups.

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Let’s take a look at the various age cycles of a human’s life, and the kind of health insurance they’d require at those stages.

During Youth and Young Adulthood (The Early 20s to Mid-30s)

This stage of life is considered to be the best in terms of earning, as you’re energetic, and responsibilities are relatively less. Also, the chances of getting affected by a pre-existing disease are very low.

However, there’s one strong risk at this stage, that of road accidents. Most financial experts are in agreement that taking up personal accident insurance at this stage is a good idea.

Read Also: How To Live A Healthy Lifestyle With An Ideal Health Insurance

During the Intermediate Stage (The Mid 30s to Mid-40s)

This is that stage of life when the responsibility of family falls onto your shoulders. At this stage, you probably have a spouse and kids—and sometimes aged parents—to take care of. As far as diseases are concerned, a few lifestyle-related illnesses such as hypertension, diabetes, or high/low blood pressure pose a risk.

Going in for a health insurance plan that covers all these aspects is a good idea. You can also add the new born members of your family into your existing plan. Most health insurance plans for family offer cashless hospital facilities, and free medical check-ups every year.

During the Late Phase (The Mid 40s to Retirement)

This is when your career slowly edges towards the finish line. At this stage, you’ve probably hit financial stability. Health-wise though, you’ll need to make adjustments for age-related health issues. As people go through different issues, you’re better off with an individual health policy each.

Critical illnesses like diabetes, cancer, and cardiovascular problems usually creep up behind you at this age. Choose a plan that gives you the option of periodic diagnostics and medical check-ups.

After Retirement (60+)

Once you retire, your source of income won’t remain stable. Your health is also at its relative worst during this stage. You’ll need a medical policy that extensively covers all your health-related issues. Going in for a new health policy cover now might prove a costly affair. Choosing a retirement plan with a long-term renewability helps improve the quality of your life during the post-retirement stage.

When picking a health insurance plan, carefully choose policies that suit your lifestyle and requirements. Seeking professional help is always a good idea. Consider policies that offer cashless medical treatment, covers accidental emergencies, and supports policy renewal for a lifetime.

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