Corporate Health Cover is Insufficient With rising medical costs, the importance of health insurance policy cannot be overstated. Check the cost of a two day’s hospitalization for a regular ailment  and then compare it with your company’s insurance coverage. When you will retire or change a job, your corporate health plan will cease to exist. So it is worthwhile to buy an individual health plan.

Increase in Incidence of Life Threatening Diseases Sadly, India is grappling with life threatening diseases. The effect of these diseases is felt on the productive workforce from 35-65 years. Also, heart diseases among Indians occur five to ten years earlier than in any other population around the world.

Better Financial and Heath Care Planning Accidents and medical emergency can happen without warning and a good health policy will ensure that you are sufficiently covered for emergencies. It is tough to compute how much you will spend on health care in a year but having health insurance plan helps you to pay for sudden medical costs. You can also buy family health plan that will cover the entire family. Usually, these family plans are much cheaper than having multiple individual health plan. Also, you can opt for critical illness plan along with personal accident cover to address your divergent health care needs.

Tax Benefits You can get exemption for paying the premium under Section 80D of the Insurance Act. The limit of deduction in health insurance premium to Rs 25,000.For senior citizens, the new limit is Rs 35,000