Financial planning is very much required as spending judiciously would help you create a good cash reserve for your future needs. In this context, medical insurance is very much a part of good financial planning. If you are young and have just started earning, it is the right time to give equal importance to health. With the changing times, the health hazards are not limited to old people but they are greatly impacting the younger generation too. It is indeed a pain to see your own money drifting to cater hospitalization expenses. In the beginning of career it is difficult to create a corpus to look after hefty hospitalization charges and after some years the corpus that you must be creating may prove to be deficit taking into consideration the inflation and rising cost of medical facilities.

Hence, it is essential to have a comprehensive health insurance plan that would take care of your health if required by taking care of financial implications.

What is health insurance?
It is basically a contract between the insured and the insurance company whereby you promise to pay certain premium and in return the insurance company promises to pay for your medical expenses in case of hospitalization if you need to undergo treatment.

How to choose a medical insurance plan?
There are various types of medical plans available for everyone as per their pocket and affordability. It is advisable to go for a comprehensive health insurance as majorly it would take care of the following:

€ Cashless facility in network hospital
€ Ambulance charges
€ Pre and post hospitalization expenses up to specified time
€ Lab and investigating report charges
€ Easy claim process

This policy is meant to ease out the financial strain thus giving ample time to focus primarily on the health.

What is the benefit of taking health insurance policy at a lower age?
The younger you are the less is the premium as the probability of you encountering major illness is low. As you age, the premium of new policy would be more as you will be in risk bracket being more prone to illness.

Once your health is settled, you can manage other expenses out of your own pocket. As the cost of living is increasing day by day, a good medical insurance plan would save you from financial turbulence. So, gift yourself a comprehensive health insurance and be at rest.There are various health insurance plans on sale for variety of diseases. Depending upon one's own logic and requirements, one chooses some health plans - life insurance plan, personal accident plan, critical illness plan and so on and so forth. But instead of facing the perplexities of buying many insurance policies for various ailments and loading yourself with a number of documents to take care of why not go in for a single health insurance plan, which will, as a single document, satisfy all your needs.