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Why is Health Insurance important?

The importance of health insurance has seen significant growth over the past decade with a marked increase in the costs of hospitalisation. The government also acknowledges the importance of health care and offers tax exemption for your health insurance policy. 

With natural disasters and human-made catastrophe such as terrorism increasing, health insurance and its importance have multiplied. Thus, we can increase our odds of surviving through these medical, financial and emotional hardships by appreciating the importance of health insurance coverage. 


Why should you buy a Health Insurance at an early age?

In India, most youngsters believe that investing in health insurance is useless. But, contrary to popular belief, investing early has many benefits, including:

Lower Premium

  • When you are young, the chances of getting a medical condition is less as compared to an older person. If you buy a health insurance policy in your 20’s and 30’s, you get coverage at a lower premium.

Aligned Finances

  • Planning your finances early in life to include health insurance in your investment portfolio will be beneficial in the long run. As you grow older and your responsibilities increase, your finances can go haywire. But, by investing early, you can be prepared for medical emergencies in advance.

Waiting Period

  • Typically, health insurance plans have a waiting period before you get coverage. During the waiting period, you cannot make a claim even in an emergency. But, if you buy medical health insurance at an early age, you can pass through the waiting period without worrying about a medical emergency.

Lesser chances of rejection

  • Usually, the insurance applications are rejected if the insurer believes it is risky to cover the individual, i.e. when the age of the applicant is more. Thus, when you apply for insurance at a young age, chances of rejection are less.

Why does one need an individual health insurance over a corporate one?

You might think why should you need a health insurance spent from your own pocket when you have a health insurance provided by your employer. Let us provide you with some reasons for the same:

Enhanced sum assured

  • Existing sum assured provided by your corporate may not be adequate for a complete health cover. An individual health insurance cover comes with a higher sum assured to cover more diseases/treatments and family members.

Lifelong renewability

  • Personal health insurance does not expire or change when switching jobs or at the time of retirement.

Non-hospitalisation costs

  • Most of the corporate insurance don’t cover out-of-pocket expenses like day care treatments, pharmacy bills, etc. You get coverage for these expenses under an individual health insurance policy.
  • If you don’t have a medical insurance cover yet, purchase a policy today for a secured tomorrow.

For details, kindly refer to Master Policy Wordings in line with cover that you wish to purchase.

Master Policy Wordings for Sum Insured – Rs. 5 and 7 lakh

Master Policy Wordings for Sum Insured – Rs. 10, 15, 20 and 25 lakh


The advertisement contains only an indicative of cover offered. For more details on risk factors, terms, conditions and exclusions, please read the terms & conditions/policy wording carefully before concluding a sale. Insurance is underwritten by ICICI Lombard General Insurance Company Limited. GROUP HEALTH INSURANCE. (UIN - ICIHLGP21380V042021 (Misc 11))

ICICI Bank Limited (“ICICI Bank”) with registered office at ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara, 390 007, Gujarat (CIN: L65190GJ1994PLC021012) Toll Free No. 1860 120 7777 is only a Corporate Agent (Composite, IRDAI Regn No.: CA0112 valid till March 31, 2022) of ICICI Lombard General Insurance Company Limited having its registered office at ICICI Lombard House, 414, Veer Savarkar Marg, Near Siddhivinayak Temple, Prabhadevi, Mumbai 400025. IRDAI Reg. No. 115. Toll Free No. 1800 2666. Fax No. 022 61961323, CIN: L67200MH2000PLC129408. Email -, Website -

Enrolment by ICICI Bank’s customer of any insurance products is purely voluntary, and is not linked to availment of any other facility from ICICI Bank.


  • IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums.
  • Public receiving such phone calls are requested to lodge a police complaint.