Health Insurance is a crucial instrument that provides you and your loved ones financial security in times of need. Thus, whether an emergency or a planned hospitalisation, a health insurance policy ensures umbrella coverage by helping you pay for the covered medical expenses in case of hospitalisation due to illness or injury.
What is more, other than safeguarding your finances from hospitalisation expenses, you can avail tax benefits on the premiums paid towards your health insurance under Section 80D of the Income Tax Act, subject to terms and conditions. This makes a Health Insurance plan a favourable tax-planning tool.
Tax Planning Tool
Deductions under Section 80D
Healthcare concerns, cost of Healthcare
Concerns on healthcare costs differ by age. It is observed that 53% of Indians are unprepared for any large unexpected medical expenses. In view of the expensive cost of healthcare, the level of preparedness for medical exigencies is assuming significance.
The cost of healthcare- How expensive is your city, highlights the costs in various cities for different ailments as below
Top 10 Health Tips for 2017
There is no one food, drink, pill, machine, or program that is the key to achieving optimal health. A person’s overal daily routine is what is most important. Consider the following 10 Health tips for working towards a healthier you in 2017
- Embrace nutrition basics.
Eating right does not have to be complicated. Forget the fad diets and adopt a healthy eating plan including a variety of fruits and vegetables, lean proteins, whole grains, and low fat dairy.
- Move more.
Aim to get atleast 150 minutes of moderate activity such as walking, each week to assist in weight maintenance and overal health.
- Be smoke free.
Make a plan for the challenges you will face and keep trying your best. Seek support and talk to your doctor about medications that can double your chances of quitting for good.
- Schedule sleep.
Make sleep a priority to enjoy a more focused, energy filled lifestyle. Aim for 7-9 hours of sleep each night. Create a relaxing bed time routine and change your electronic device settings to the night shift mode.
- Prioritize preventive screenings.
Many medical conditions can be recognised in the early stages by getting preventive screenings and immunizations. Ask your doctor about what screenings are recommended for you.
- Connect with others.
Building a community of people who can help you through life’s ups and downs is a vital step towards happiness and good health. Invest in relationships that provide encouragement and accountability to both parties.
- Stress Less.
Gratitude has been shown to lower stress, which prevents many other physical and mental consequences. Instead of focusing on what your body cannot do or how you wish your body looked, try expressing gratitude for where you are now and the opportunity to make improvements.
- Work toward or maintain a healthy weight.
If you are overweight, work toward losing 5-7% of your weight to significantly reduce your health risks. Studies show that individuals who track their intake using an app, such as myfitnesspal, lose more weight and keep it off compared to those who donot track.
- Set SMART goals.
General goals such as exercise more are not effective. A SMART goal is Specific, Measurable, Actionoriented, Realistic and Timely. “I will walk 20 minutes over my lunch break on Tuesdays and Thursdays” is a SMART goal.
- Stay positive.
Health goals donot always go as planned. When you face challenges, focus on all the positive changes you have made, no matter how small they seem. Treat yourself with kindness, like you would a good friend.
Disclaimer:
The views of the authors/publishers should not be construed as advice. Investors must make their own investment decisions based on their specific investment objectives and financial positions and using qualified advisors as may be necessary. Opinions expressed in various articles are not necessarily those of Wealthmax Enterprises Management Private Limited(WEMPL) or any of its directors, officers, employees and personnel. Consequently, WEMPL or any of its directors, officers, employees and personnel do not accept any responsibility for the editorial content or its accuracy, completeness or reliability and hereby disclaim any liability with regard to the same. Stock picks and mutual fund snapshots are not exhaustive and should not be construed as recommendations.