Dhan Ki Baat Episode 3: Benefits of Health Insurance, Explained

Video Producer: Anubhav Mishra
Video Editor: Purnendu Pritam

In the third episode of ‘Dhan Ki Baat’, we will discuss about health insurance. This is one of the most essential insurances that a person needs. However, most of us don’t even pay attention to it. Personal finance expert Gaurav Mashruwala feels that health insurance must be prioritised over life insurance.

Problems To Your Health, Can Take Away Your Wealth

If you are a salaried employee, you have to keep certain things in mind. Do you have a health cover only for yourself or for your family members – husband/wife, kids and parents – as well? If your health insurance covers your family then make sure that they are aware of it.

Secondly, you must ensure that you are aware of the procedure to claim the benefits of the health insurance. Does your insurance company allow cashless transactions? If yes, then when you are ill, you can get admitted to a hospital without worrying about the cash.

For Youngsters, the Earlier the Better

Most youngsters just assume that since they are young, they don’t need a health insurance. But in fact, the earlier you opt for a health insurance plan, the better it is for you because it will considerably reduce your premium. This reduced premium will continue even when you get older.

In fact, you can get health insurance for a kid as young as 91 days of age.

However, you must be very careful while reading the terms and conditions of a health insurance plan. Also, make sure that you pay your premiums on time because even if you delay it by a week, it may prove very costly.

If you have any questions regarding personal finance, do send it to us. Our email id is [e-mail]. These questions can be related to mutual fund, insurance, savings, SIP, PPF, will and other similar issues that have a direct impact on your earnings. Do tune in to The Quint and Quint Hindi every Thursday for ‘Dhan ki Baat’ with Gaurav Mashruwala.