The 40 Year Old’s Guide To Health Insurance

Health Insurance For The Middle Aged - Activ Together

Imagine a scenario where you been working for the same company for the past 20 years and you have been doing well for yourself. Your company had group health insurance for all the employees and your medical expenses were covered. Life has been good, but you’re nearing your 45th birthday and you’re beginning to wonder if it’s time for a change. You decide to quit your job and start your own business, which gives you more freedom to spend time with your family, to travel, and to pursue your hobbies.

There are several people with stories very similar to that. While they might enjoy their new-found freedom, they must not forget that they are no longer protected by their former company’s group health insurance. It is important at this time to think of buying personal health insurance because medical emergencies can occur at any time.

If you are in your 40s and are thinking of buying health insurance, then these tips can help.

Don’t Wait Any Longer:

If you’re worried that you should have bought your health insurance in your 20s or 30s, rest assured that it’s not too late for you to buy a policy. Many health insurance companies offer plans to individuals until the age of 80. In your 40s you are a very good candidate for health insurance. Although your premium will be higher than it would have been ten years earlier, it still won’t be as expensive as it would be when you cross 60.

Consider Family Floater Plans:

If you are married with kids or have dependent parents, you can consider health insurance for the whole family. A family floater plan allows you to buy one policy that covers all the members of your family. While it is possible to buy individual policies for each family member, the floater plan works out as more economical and offers the same level of financial protection.

Prioritise Fitness:

Pre-existing medical conditions can result in an increase in your premium. On the other hand, for every year that you don’t make a claim, your sum insured increases by 10% without any additional cost. Taking care of your health and doing whatever you can to prevent lifestyle diseases like high blood pressure, type 2 diabetes, high cholesterol, and cardiovascular conditions, can reduce your chance of hospitalisation. Eating a nutritious, balanced diet and getting enough exercise every day can help you stay fit and healthy.

Get Annual Medical Checks:

Getting annual medical check-ups is a good preventive measure to keep serious illnesses at bay. A blood test could tell you if you are borderline diabetic and help you control your sugar intake, preventing further complications. Similarly, an ECG could inform your doctor if your heart is healthy or if you need to make changes in your routine to protect yourself from heart disease. The healthier you are the better your chance of getting health insurance at a low premium.

Use the Online Advantage

A couple of decades ago, buying health insurance could be quite complicated. You would either have to request an agent to come to your home and explain to you all your available choices or personally visit the office of an insurance provider and learn more about their policies. There were lengthy forms to fill a considerable waiting period for all formalities to be complete. Today you can simply go online, use a website to compare different health insurance plans and register with a few clicks. Buying health insurance has never been easier.

The 40s is a good time to get health insurance and the sooner you buy a policy the better. Read all policy documents carefully before you buy one so that you know exactly which illnesses are covered and which ones are not, and what the terms and conditions are regarding pre-existing conditions.