When is it the best time to buy a health policy?

The earlier, the better. The premium charged is primarily dependent on- age, the amount of coverage required and your previous medical history. It pays to start early as younger individuals are considered healthier and hence have to pay a lower premium. As you progress in age, premium increases as the incidences of health problems in higher.

Also, as you progress in age, certain diseases may surface which may then get excluded under the pre-existing disease clause. Pre-existing diseases are not covered for the first 4-5 years of the policy -continuous coverage is essential. Although there are now few policies which cover some pre-existing diseases, the premium charged is higher.

Insurance companies also provide benefits to the insured for every claim free year by way of additional cover up to a certain limit or renewal discounts up to a particular sum. This in turn benefits the insured.