We all have someone we know and trust to give us sound investment advice for the future: our friends, other personal contacts, financial advisors, websites, etc. Most would recommend that to achieve financial goals, you should save 6 months’ worth of expenses, then invest in a variety of assets, including fixed deposits, mutual funds, and equities. They almost always miss out on Health Insurance, which is so important!
Let us explain why no investment plan is complete without Health Insurance.
Medical inflation increases much faster than overall inflation. Plus, your health problems – and the costs associated with them - rise hugely with age. Treatment that costs Rs 50,000 today might cost Rs 16 Lakhs or more 25 years from now. Many people around the world, and in India, lose their hard-earned savings, go bankrupt or take loans to pay for medical care.
A Health Policy should be looked as a saving, which will pay back big-time during medical emergencies. It should not be looked at as an expense. As we get older, and eventually retire, our active income will stop and health emergencies will start. Having health insurance helps you build protection against this risk, and also protect your loved ones
You can also use Health Insurance for your financial planning, to get significant tax deductions. So, while ensuring that health costs don’t eat into your wealth, you also create another saving: tax!
Don’t forget, only once you include Health Insurance in your portfolio, can you say: “It’s a plan!”
Disclaimer
Source: The content of the blog/article is based on information obtained from publicly accessible and generally recognized sources, including regulatory authorities, official organizational websites, industry associations, research institutions, market intelligence reports, academic publications, and other reputable secondary references. The information has been collated, analysed, and presented solely for informational purposes.
Disclaimer:
The company offers various products under Motor insurance, Health Insurance, and commercial insurances. For more details on risk factors, terms and conditions, exclusions, and product features, please read the policy wording and sales brochure carefully before concluding sale.
Zuno General Insurance Limited, IRDAI Reg. No. 159, CIN: U66000MH2016PLC273758, Regd. Office: 2nd Floor, Tower 3, Wing B, Kohinoor City Mall, Kohinoor City, Kirol Road, Kurla (West) Mumbai City MH 400070. Reach us on TOLL-FREE: 1800 12000 | Landline: 02242312000 (Call charges applicable) www.hizuno.com | support@hizuno.com
