BENGALURU: Conventional wisdom states, ‘Health is Wealth’. But in today’s world where challenges to health are rampant in the form of hectic work schedules, late working hours, growing pollution, and sedentary and fast-paced lifestyles, ensuring better health has become a major concern. This has lead to the increasing number of unexpected and unplanned expenditure, combined with medical emergencies. Hence, a little planning of earnings can come to a great help for thwarting such emergencies. As time and tide wait for none, it is better to invest in insurance sooner than later.

Also, young investors get several benefits than those who invest in their late 40s’. Here are few glimpses of reimbursements of early insurance investors gain as compiled by yahoo! Finance—

1. Prevent Unexpectedness- At times, life takes an ad hoc turn and within a drop of eyelash, things, situation get changed. So it’s better to be prepared. In one instance, if one of your loved ones passes away suddenly, the entire family struggles for a decent living. In such cases, an insurance policy taken at a young age can prove to a life-saver for the family members remaining behind.

2. Waiting Period- Be it a life insurance or a health plan, today several insurance companies have 30-90 days of waiting period, during which investors are not allowed to claim any expense, except in case of accidents. Hence, buying a plan at young age is more advantageous, as the probable chances for ailments are lesser.

3. Tax Benefit- In today’s high profile lifestyle, every person is much more cautious about saving their hard earned money from income tax payment. Investing in insurance policy is one of the most popular ways for achieving the same.

4. Financial planning- Insurance policy at a young age assists to plan finances in a better way, because when family is secured with adequate medical coverage to take care of any health emergencies, investors can focus on making other investments.

5. Low premium: In many cases, the premium amount charged by an insurance provider depends on age. If a policy is opted at a young age, the premium value also becomes much lower.

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