Millennials are often criticised for prioritising consumption over future savings. So, no wonder, it is widely believed that millennials do not invest in insurance. However, a recent poll by one of India’s top insurance providers (Source: Business Standard) revealed that many millennials are aware of the importance of a strong health insurance plan and actively contribute to it.
Most young people understand the need for extra money on hand, especially during a medical emergency. The COVID-19 outbreak was a wake-up call for people of all age groups to invest in a robust health insurance plan. If you are a millennial and are confused about things to consider when choosing either a health insurance plan or critical illness insurance, then this article is for you. Keep reading for all you need to know about choosing the best health insurance. What is Health Insurance"
Health insurance, often known as medical insurance, offers financial protection in the event of a health-related issue. It covers hospitalisation expenses, cost of treatment, daycare procedures and more. A health insurance plan is essential for protecting your health and assets in the current pandemic situation. It also helps you reduce your tax liabilities. A health insurance policy document is a legal agreement between the policyholder and an insurance provider, or insurer. An electronic payment system or reimbursement procedure may be used to claim these treatment costs.
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