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Health is wealth. However, with many individuals leading hectic lives, breathing in polluted air, and consuming contaminated food, they may be facing serious health concerns. While life expectancy has increased, the number of illnesses affecting the younger generation has also increased.
An early start in health insurance investment assures one of a better and more secure future. The earlier, the better. Buying a health insurance investment as early as possible enables one to easily ride out the waiting period. Completing the waiting period before actually needing it is also only possible when one buys a health insurance at a young age. Young adults don’t necessarily need coverage for ailments such as cataract, knee replacement, or lifestyle diseases.
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Comprehensive plans are at lower premiums. One can avail a health insurance plan without any medical checkup, and young adults are offered a broader range of policies. A policy holder’s age is one factor that affects premium rates. With an early start in health insurance investment, a policy holder can get a comprehensive and holistic coverage at cheaper premiums.
Availing a health insurance plan at a younger age allows one to plan their finances in a better manner. Younger adults are more likely to be in good health than those advanced in age. This means they have lesser chances of being rejectedby a health insurance plan. It is possible for one to develop severe complications over time, thus having a health plan early on may lower the probability of rejection, even when the medical underwriting would not be so favorable.
Delos H. Yancey III is the chairman, president, and CEO of State Mutual Insurance. He is a Certified Financial Examiner, a Certified Insurance Examiner, and fellow of the LIMRA Leadership Institute. Learn more about the company here.
Delos H. Yancey 