'I am fit and fine' attitude may prove costly; buy health insurance early

Sum insured in health policies should be raised at key life stages and then every 3 years

Youngsters who have graduated recently from college and begun working often ignore buying a health insurance policy. The attitude often is: “I am fit and fine. Why do I need health insurance?” Experts, however, say that the purchase of health cover should be the first step in a person’s financial planning. Many such youngsters tend to have an education or a car loan. It then becomes all the more important why one should buy health cover so that an illness or an accident does not dent their finances drastically.

A 25-year-old should ideally purchase health cover for at least Rs