Different people may buy health insurance for different reasons. A few of the main reasons behind buying health insurance are as follows:
• In the case of an unexpected medical emergency, health insurance provides for the medical expenses
• Costly medical care which was unaffordable earlier can be obtained with health insurance
• Some health insurance policies even help you in paying for your regular medical care
• When you are unwell, the last thing you want to worry about is the cost of healthcare. Health insurance helps you achieve the peace of mind. It provides you a source of funds when you need it the most
• With health insurance you can cover your entire family. Thus you do not need to worry about the healthcare related expenses of your family members also.
• When you have dependant family members, it is most important that you avail of a family health insurance plan. The advantage with this plan is that you would end up paying less premium as a group than what you would pay if you were buying health insurance individually.
• Premiums paid towards health insurance are exempt from tax. Also, money received through health insurance during a medical emergency is exempt from tax.
• Sometimes, the insurance providers have arrangements with the hospitals whereby the cost of treatment for a health insurance policy holder is less than what he would need to pay were he to avail of the same services without having a valid health insurance policy.