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There is a famous saying “health is wealth,” and it is indeed true in today’s context. With people getting busy with their hectic life, there is a growing trend of unhealthy eating habits and sedentary lifestyle. In the pursuit of money, health has been left far behind. Now, one cannot give up on his/her career, but they certainly can opt for a health insurance policy that offers protection against unexpected medical emergencies. Health insurance is ignored by people for many reasons, and this has led to India’s problem of “under-insurance.” Herein, people opt for an inadequate amount or rather do not opt for any health insurance thinking that no ailment can affect them. Another reason given by people is that the premium for health insurance is very high, and they cannot afford it. 

Affordable Health Insurance – is it a reality?

The excuse that health insurance is expensive is not true. Affordable health insurance is a reality and has benefitted many families for the past few years. With the rapid integration of technology in the insurance sector, many insurance companies are now offering their services online. You can easily purchase or renew health insurance online  in a few clicks. As most companies have taken their operations online, the cost of availing and renewing health insurance has gone down substantially.

If you are still unsure about the affordability of health insurance plans, here are some tips to help you select an affordable health insurance policy for yourself as well as your family:

Understand your requirements:  First of all, you need to understand yours and your family’s health insurance requirements. Consider factors like the number of members, their age, existing conditions, family health history etc. This will help you understand the extent of coverage that you require. 

• Start early: Health insurance premium against a new policy for a young person of 25 years will be much lower than for a mature person of around 50 years of age. This is due to the risk involved for the insurer. So, you must subscribe to a personal accident insurance online as soon as you start work, to enjoy the lowest premiums. Then gradually, keep on enhancing the coverage of your policy as your income rises. 
• Do some research: Several online insurance marketplaces have come-up, which allows you to compare policies from different insurers easily. As these marketplaces eliminate the agent from the transaction, the cost of the policy goes down substantially. By comparing the coverage of different policies, you can reduce your premium payments significantly. 
• Opt for a floater policy:  You can opt for a floater policy wherein one policy covers your entire family, including dependents. Instead of paying separate premiums, you only need to pay a single premium and will get insurance coverage for the whole family.
• Tax Benefits:  If you pay a health insurance premium of your parents, you can claim an additional tax deduction. Thereby, you can save substantially on your income tax liabilities. 
• Online renewal: When you renew health insurance online, through the insurance company’s website or any online marketplace, you can enjoy lower premiums. As the companies do not need to pay any commissions, you can save a significant amount of money by opting to renew health insurance online.

The benefits offered by a health insurance plan are too good to be ignored just because you think health insurance is unaffordable. Do some research, and you will see that health insurance is indeed affordable and is rather a necessity for your family.

If you own a vehicle, most likely it’s a bike. A two-wheeler is most people’s first choice due to the low price and easier upkeep. The latter, however, is something that is not always true. Even a small accident, due to your or someone else’s error, can lead to a hefty bill. So, does that mean two-wheelers aren’t as economical as we thought?

It can be if you have the right two-wheeler 2 Wheeler Insurance In India.

Not only is a two-wheeler insurance mandatory by the government, it is also the best way to ensure owning and riding a motorcycle doesn’t become a burden. While breakdowns and accidents aren’t always avoidable, you can plan ahead for when you find yourself in a sticky situation.

Kinds of plans available 

To break it down, there are mainly two kinds of insurance plans available for two-wheelers. One is the third-party liability only insurance which is mandatory for all motor vehicles and the other one is the comprehensive insurance which protects you and your vehicle as well. One should always go for the latter because not only does it cover your liabilities to the other party in case of an accident, but also your medical bills and biker repair costs.

How important is it?

You might be a terrific rider but can you be sure about everybody else on the road? A comprehensive insurance, in that case, is your best bet for protecting your finances. Your policy will not only help you recover the costs of repair but also your medical bills. But the benefits of a two-wheeler insurance don’t end here. It can also protect you against theft and send you help if your motorcycle breaks down in the middle of nowhere.

What does our truth lens say?

As mentioned earlier, you should always opt for a comprehensive insurance because it covers more than just the third-party liabilities. Apart from this, you should also check how extensive is the insurance provider’s network of service centres and garages. A large network means you are more likely to find one around you for cashless repair.

Another factor to keep in mind is to check the claims ratio of the company. It essentially means how many claims the provider has settled out of the total number of claims made. And of course, you should look for which plan offers most benefits. For instance, Niveshopedia two-wheeler insurance covers your motorcycle against damage due to fire and explosion, damage in transit, natural disasters and even theft. 

Where to get it?

This is an easy one as most vehicles usually offer you insurance at the time of purchase itself. But make sure you go through the offerings properly. You can also check out Niveshopedia to find the right plan for yourself to renew bike insurance or Buy Bike Insurance Online in India. 

We’re always talking about how densely populated India is but have you ever stopped to think what it means for us? Well, the metros are over-crowded for one, but there is more.

It also means more people have to share the same amount of resources. Something as basic as healthcare becomes more expensive for most.

Our country’s total expenditure on health as per WHO statistics was 4.7% of our GDP (2014). This cost is only rising due to our sedentary lifestyle and the external factors like climate that we expose ourselves to on a daily basis. As much as we love our junk food and comfortable chairs, they really aren’t helping our health.

So, at a time like this, what can one do?

This is where health insurance comes in handy, even if we faced the same health problems as the generations before us, the prices we would have to pay would be a lot more due to inflation. But a good health insurance can work as a safety net that protects you from these expenses. There are things such as family medical history, environment and even our lifestyles that aren’t completely in our control, but how prepared are we for unforeseen events are.

But besides countering the effects of our changing lifestyles and rising medical costs, health insurance also gives you some additional benefits such as tax deductions. We know, a lot of people don’t invest in health insurance because they think it’s expensive but if anything, it’s helping you save money on two fronts – medical bills and taxes. All payments made as premium for your insurance are eligible for tax deduction under section 80D of the Indian Income Tax Act. In simpler terms, the amount you pay as premium is deducted from your total taxable income.

Now you might be thinking that you are healthy, and you wouldn’t really need hospitalization and thus, health insurance. But here’s where you are mistaken. Health insurance doesn’t just help you during hospitalization but throughout – from getting free health check-ups to day-care treatments and even dental procedures. Now, who doesn’t need a dentist every now and then, right? Moreover, you might be healthy now, but what about 10 or 20 years down the line? You can never be sure of your health then, but you can be sure that health insurance will be there to protect your finances.

Planning for the future is a must in this day and age. The ease of technology leaves you with no excuse but to click a few buttons to secure yourself. Health insurance is cited as one of the best investments that one can make. Not only does it lead to better financial planning, but it also removes a lot of questions you may have when an unfortunate situation does arise.

Choose a plan tailored to your needs and stay assured that if you ever need healthcare, you have something to fall back on.

Though there are many Online Health Insurance Companies in India, Niveshopedia is a one stop shop for all your needs from a Health Insurance Policy Renewal or getting a new policy.