The festive season is in full swing. Festivals are all about lights, food, gifts, etc. Every year, during the festive season, you may be buying gifts, such as clothes, jewellery, etc., for yourself and your family. These gifts may or may not be that useful. For gifting this festive season, rather than traditional gifts, consider gifting yourself and your family members a health insurance plan. Health insurance is an integral part of your financial planning, and it is a gift that’s as precious as gold.

In this article, let us look at the top reasons for buying health insurance during this festive season.

Invest in health this festive season

The festive season is a good time for making new beginnings. We eagerly look forward to the festive season to buy a new home, vehicle, gold, home appliances, gadgets, invest in financial products, etc. It is auspicious to buy these during the season. Then why not make a new beginning by investing in your own and your family’s health this festive season?

You can take a two-step approach to investing in health this festive season:

• Adopt a healthy lifestyle

Considering the rapid rise of viral infections and lifestyle diseases in the last few years, there is growing awareness among individuals to take control of their health in their own hands. You can do that by adopting a healthy lifestyle. The festive season is mostly about foods that are not very healthy, such as sweets, fried foods, etc. This festive season, you can resolve to focus on eating healthy foods and avoid unhealthy foods.

Apart from eating healthy foods, you can include the following for a healthy lifestyle:

1. Exercise for about 45 minutes to 1 hour five times a week
2. Sleep early, for about 8-9 hours, and rise early
3. Maintain a work-life balance
4. Stress management
5. Pursue a hobby, etc.
6. Do a preventive health checkup for yourself and your family once a year to stay on top of your health.

• Buy health insurance

The above section shows the steps for adopting a healthy lifestyle. However, health adversities can strike the individual or a family member at any time. Hence, you should invest in a family health insurance plan this festive season. Health insurance plans can shield you from the ever-increasing hospitalisation costs. During the festive season, individuals are prone to accidents while travelling or fire incidents. Hence, it is handy to have a health insurance plan to provide you with financial protection against hospitalisation bills.

Top reasons for buying health insurance during the festive season

Some of the top reasons for buying health insurance during a festive season include the following:

• Healthcare costs are rising rapidly

In the last few years, healthcare costs have risen significantly. Medical inflation is growing at a faster pace than general inflation. If you or a family member gets hospitalised for an operation/surgery, it can set you back by a few lakh Rupees. Hence, buy a health insurance policy this festive season to insulate yourself from the rising hospitalisation costs.

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  Health protection for the entire family

It is your responsibility to protect your health and your family's health. Health insurance companies offer a family floater plan that can protect your entire family in a single plan. All family members can share the cover in any proportion. If you are in your mid-30s and your parents are in mid-50s or senior citizens, you may consider buying two separate health insurance plans:

1. One health insurance plan covering you, your spouse, and children
2. One health insurance plan covering your parents

Hence, gift your family health protection this festive season by buying a family floater health insurance plan.

• OPD cover

Apart from hospitalisation coverage, some health insurance plans also provide you with outpatient department (OPD) benefits. The OPD benefit may cover doctor consultations, diagnostic tests, prescription medicines, etc. The OPD cover is provided in one of the following ways:

1. It is a part of the base health insurance policy
2. It can be added as an optional benefit to the base health insurance policy
3. It can be added as an optional rider to the base health insurance policy

While the hospitalisation cost may be a one-off, OPD expenses may be a regular thing for most families. Hence, this festive season, make a wise decision by investing in a health plan that provides you and your family with hospitalisation coverage and OPD benefits.