Why You Should Buy Bajaj Allianz General Insurance Company Health Insurance for Your Family Early?

When it comes to your family’s future, it’s important to look beyond just saving money and making investments. Planning for their health and well-being holds great importance as well. Health emergencies come without warning, and when they occur, they impact your family both physically and financially. That is why purchasing a health insurance policy for your family while you’re young is among the best decisions you can make.

A health insurance policy for a family has many long-term advantages, including lower premium amounts and comprehensive coverage. If you are still in doubt about when to buy it, then this blog is for you.

1. Lower Premiums When You Buy Early

One of the key advantages of taking health insurance plans for your family early is that the premium amount is low. The premium amount of a health insurance plan depends primarily on age and any existing health conditions. Young people are considered low-risk policyholders, so insurers offer policies at lower premiums.

You can use online tools like a health insurance premium calculator, which help you to compare premium amounts and see how they increase with your age. For example: a 30 years old person with a family floater plan will pay a lesser premium than someone getting the same coverage at the age of 45. Buying the policy early helps you save on the premium payments.

2. Coverage for a Wide Range of Benefits

If you purchase a policy in advance, your family is eligible for comprehensive benefits in the long run. Top insurers like Bajaj Allianz General Insurance Company provide policies like Health Guard that cover a broad range of healthcare costs, including:

• In-patient hospitalisation
• Pre and post-hospitalisation
• Road and air ambulance facilities
• Organ donor costs
• Daycare procedures
• Preventive health check-ups
• Bariatric surgery
• AYUSH treatments
• Maternity and newborn care (in some plans)

Purchasing early allows your family to take advantage of many of these advantages after satisfying the statutory waiting periods when they are still young and healthy.

3. Beat the Waiting Periods Early

The majority of health insurance plans for families come with waiting periods for any pre-existing illnesses, specific surgeries and maternity coverage. The waiting period may range from two to six years, depending on the policy. When you buy a policy early, you complete these waiting periods without much worry as you are less likely to file a claim in the early years.
As your family ages or if anyone develops a medical condition later, you’ll already be past the waiting periods and fully entitled to claims. Purchasing early in life ensures continuous access to necessary healthcare services when you need it the most.

4. Financial Security During Emergencies

Nowadays, hospitalisation bills can run into lakhs of rupees as medical costs are rising by the day. If you do not have a health insurance plan in case of hospitalisation, then you may have to pay from your pocket, borrow from your friends/neighbours or take loans for the purpose. A good family insurance policy helps you cover several costs, such as surgeries, ICU expenses, room charges, and even complicated treatments like chemotherapy or dialysis.

By buying health insurance plans for your family, you safeguard your family's future finances and enjoy peace of mind in case of emergencies.

5. Coverage for the Whole Family With a Single Policy

Family floater policies are a great choice for young families. They let you insure yourself, your spouse and even your kids under a single sum assured. The Health Guard plan by Bajaj Allianz General Insurance Company offers coverage for parents, siblings, in-laws and other relatives on an individual basis. It enables you to avoid the hassle of handling multiple policies. This also proves to be cost-effective. So, the earlier you buy the plan, the more options you get in terms of customisation and sum insured.

6. Access to Preventive & Wellness Benefits

With an early purchase of a policy, you and your family can also benefit from wellness coverage in the long term. Insurance companies, nowadays, provide add-ons for preventive health check-ups and lab tests, or wellness discounts, tracking BMI, and reward points based on their total number of steps walked in a day. These add-ons not only help monitor the fitness (you and your family), but they also reduce the renewal premium when your family achieves some of the health goals.

You can use the online health insurance premium calculator to notify you how fulfilling wellness metrics, such as blood pressure, cholesterol and total step count each day, can earn you discounts up to 10% and even 12.5%.

7. Long-Term Renewal and Lifetime Coverage

Those policyholders who buy their health policies early get continuous coverage with a lifelong renewability option. When your family is supported by policy early and you renew your policy regularly, you can keep enjoying life-term benefits without any coverage gaps. Moreover, many policies now provide cumulative bonuses and recharge benefits that increase your coverage every year without added cost, subject to no claim being made.
Such features are highly valuable when you consider long-term healthcare expenses, especially as your family ages.

8. Tax Benefits on Premiums

One of the most loved advantages of a health insurance plan for the family is tax benefit. Yes, you heard that right! You can claim tax deductions under Section 80D of the Income Tax Act (under the old tax regime) for the premiums paid for yourself, your spouse, your children and even your parents.
When you buy the policy early, you get to claim the tax benefit year after year while keeping your family covered.

Conclusion

With increasing lifestyle-related diseases and healthcare costs on the rise, early investment in health insurance plans for your family is a practical step toward a safer and happier future. You can use a health insurance premium calculator to understand and compare several plans and know their premium amount before making a buying decision. In India, Bajaj Allianz General Insurance Company provides various health policies that can be customised to your family's unique requirements.

Note - This article is written by Brand Desk.