The studies reveal that the major section of the population takes the financial decisions very lightly, especially while purchasing a health or life insurance for themselves. Most of the people don’t even think about buying a good insurance plan, even when they get married and have children. There is a huge speculation about the correct age of getting a health insurance. The issue is indisputable, because you talk to any reputed or experienced person, the advice would be- Buy it as soon as possible.
The cost factor is the major one while picking the best insurance plan for yourself. It is completely understood that you will be looking for a plan in which you have to pay less premium, and you get the best returns. But, here comes a bitter truth, the longer you wait to purchase a health insurance, the more you have to pay. So, the first thing you do in your twenties is to get a health insurance, and secure your life.
Your perfect health condition plays an important role in getting a low premium insurance scheme. Your insurance coverage and overall associated costs are determined by your health condition. If you are a healthy person, who does not drink and smoke will get the benefits of the insurance plan with lower premium rates and large policy value.
Some people try to hide their poor medical condition from the health insurance providers to get the maximum benefits, but they are not aware that the providers conduct a physical test before providing health insurance coverage to their clients. So, if you are also trying to do the same, beware of their pre medical screening. It is really embarrassing. In the medical screening they get a detailed health report, so even if you try to hide anything, it will be of no use. After analyzing your health condition precisely, the health insurance coverage rates will be adjusted accordingly.
You will certainly fall in of the categories classified by the health insurance companies. The three categories are decided on the basis of the coverage rates and the premiums based on the healthy state of the customer. These are standard, preferred, and preferred plus. Now, see, you fall in which category to know about the rates and the amount of the insurance coverage. To grab knowledge related to Financial Education and more visit my another blog Tony Wiley Chicago.
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