Health Insurance for Young Adults

Higher Risk of Lifestyle-related Ailments

Serious health issues were once common in older adults, but trends are rapidly changing. A recent hospital-based analysis (2020-2023) indicates that 50% of heart attack cases in India occur in individuals below 40 years of age.

Poor work-life balance, sedentary lifestyle, stress, alcohol consumption, smoking, diabetes, and obesity are major contributors. A good health insurance for young adults can help you ensure timely attention to quality healthcare services when in need.

Increased Risk of Critical Illnesses

According to a scientific report, between 2021 and 2030, breast cancer cases in India are projected to increase by nearly 50,000 annually.

Medical insurance for young adults with critical illness coverage can help manage the high treatment costs related to such conditions.

Rising Healthcare Costs

With medical inflation increasing every year, healthcare expenses, including consultations, diagnostics, and surgical treatments, continue to rise.

By choosing the best health plans for young adults, you can protect yourself from such expenses that may arise unexpectedly due to health issues.

The health insurance coverage a young adult needs depends on several factors. There is no single sum insured that works for everyone.

Experts generally recommend a minimum sum insured of ₹5 - ₹10 lakhs for individuals. This can extend to ₹15 - ₹20 lakhs based on the location and the cost of healthcare expenses.

As a general thumb rule, a young adult is advised to have health insurance coverage equal to at least 50% of their annual income.

However, this is not a hard and fast rule. Your health insurance coverage should be based on your personal profile and future needs.

Key factors that help in determining health coverage for young adults are as follows:

• Age - Adults between 20 and 30 years of age typically need basic coverage that can handle essential healthcare costs. This also varies depending on hereditary risks, working conditions, and lifestyle habits.

As they get older, between 30 and 40 years, especially when planning a family, the coverage needs increase and may require additional coverage, such as for maternity care.

• Health condition - Consider any pre-existing health conditions, family medical history, and hereditary illnesses. These factors help determine the coverage needed for the necessary treatment and healthcare services.
• Location - Treatment costs vary by city. Medical expenses are higher in Tier I cities. However, it has been rising in Tier II and Tier III cities as well.
• Future needs - Young adults should consider health insurance coverage with future requirements in mind. Account for health inflation, which increases the cost of healthcare expenses every year.

• Key Features	Details
  Sum Insured	Between ₹3 lakhs and ₹3 crores
  Affordable Premiums	Premiums start at just ₹15 per day
  Coverage	For in-patient, pre- and post-hospitalisation, day care procedures, AYUSH treatment, and more.
  Day Care Procedures	Over 540 day care procedures covered
  Policy Tenure	1, 2, or 3 years Long-term discount of up to 5% for 2 years and 7.5% for 3 years.
  Eligibility Criteria	18 years and above
  Waiting Period	Initial waiting period - 30 days Pre-existing conditions - up to 2 years Specified diseases - up to 2 years Maternity cover - 36 months
  Family Health Insurance	Coverage for up to 7 members Discount of up 32%
  Automatic Restoration of Sum Insured	Available
  Global Coverage	Available
  Optional Add-ons	Accident cover Critical illness cover Preventive annual health check-up Inflation protect Daily cash allowance Consumable expenses, and more.
  Discounts	Under TATA AIG MediCare Select: Multi-individual Discount - 5%, when more than one member is covered in a policy on an individual basis. Professional Discount - 7.5% for salaried individuals. Young Family Discount - 10% when all the insured members are below 40 years of age.
  Network of Hospitals	Over 12,000 across India
  24/7 Customer Service	Available (022-6489-8282)

Please note: Coverage features and benefits may vary across policies and are subject to specific conditions. Please refer to your policy wording for complete details.

TATA AIG Health Insurance Plans for Young Adults

Inclusions

• In-patient Treatment - Covers medical expenses incurred during hospitalisation for the treatment of an illness or injury. This includes coverage for room rent, ICU charges, nursing, and related costs.
• Pre- and Post-hospitalisation - Covers medical expenses for 60 days before and 90 days after hospitalisation. This includes coverage for pharmacy bills, follow-up consultations and diagnostic tests.
• Day care Procedures - Covers over 540 day care procedures that require less than 24 hours of hospitalisation, such as cataract, dialysis, and similar procedures.
• AYUSH Benefit - Covers expenses for treatments under Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homeopathy.
• Ambulance Services - Covers the ambulance costs incurred for transporting the insured to the hospital during a medical emergency.
• Domiciliary Treatment - Covers the cost of medical treatment received at home when the insured cannot be taken to the hospital.
• Organ Donor - Covers the medical expenses related to an organ transplant surgery when it is medically necessary for the insured.

Exclusions

• Cosmetic or Plastic Surgery - Expenses for cosmetic or plastic surgery are not covered unless they are medically necessary due to an accident.
• Adventure Sports - Injuries arising from participating in high-risk adventure sports like skydiving or mountain climbing are not covered.
• Pre-existing Conditions - Healthcare services and related costs for pre-existing health conditions are not covered during the applicable waiting period.
• Self-injury or Attempted Suicide - Expenses incurred for treatment of injuries caused by intentional self-harm or suicide attempts are excluded.
• Treatment for Drug or Alcohol Abuse - Treatments related to addiction to alcohol or any kind of harmful drugs are not covered.

Please note: Inclusions or exclusions vary depending on the policy. Kindly refer to the specific policy wording for the complete list of applicable conditions.

Optional add-ons enhance your protection by offering coverage for specific healthcare needs. TATA AIG offers over 30 optional add-ons for additional coverage.

The availability of add-ons may vary based on the health plan you choose. You can review them and choose the ones most relevant and beneficial to your requirements.

Here are some of the key optional add-ons:

• Preventive Annual Health Check-up - Covers the cost of annual health check-ups for essential diagnostic tests.
• Maternity Care - Covers the cost of maternity healthcare expenses, including delivery complications and first-year vaccinations for the newborn.
• Inflation Protect - Offers enhanced sum insured to account for the inflation rate on medical expenses.
• Cumulative Bonus Shield - Protects the cumulative bonus you have earned, even if you make a claim during the policy year, provided that it does not exceed the specified limit.
• Consumables Expenses - Covers consumables such as cotton bandages, surgical tape, and surgical blades, which are generally excluded from the base plan.
• High-end Diagnostics - Covers the cost of advanced diagnostic tests like CT-guided Biopsy, PET CT, Brain Perfusion Imaging, and Liver Biopsy.
• Women-specific Coverage - EmpowerHer is an optional add-on designed for women’s healthcare needs. This includes coverage for PCOD treatments, cancer screening and vaccination, as well as various counselling and consultation services.

Lower Premiums

Since younger adults have lower age-related health risks, premiums are more affordable. In addition, you can accumulate a No Claim Bonus for every claim-free year and reduce your premium further.

No Medical Check-ups Required

Most health insurance plans for young adults are issued without the need for a pre-policy check-up.

Get through the Waiting Period Faster

Specific coverages, such as for maternity healthcare and pre-existing conditions, come with waiting periods ranging from 12 to 36 months. Purchasing health insurance at a younger age will help you complete these waiting periods sooner.

More Coverage Options

At a young age, you are eligible for a wide range of coverage features and higher limits as compared to older adults. This ensures greater protection and stronger financial security.

Tax Savings

For young salaried professionals, health insurance also offers tax benefits. Premiums paid qualify for deductions of up to ₹25,000 under Section 80D of the Income Tax Act.

The health insurance premium for young adults varies based on several factors. Key factors include:

• Age - Younger individuals typically pay lower premiums as they are considered healthy with low health risks.
• Location - The location is also a key factor. Medical costs are higher in metropolitan cities, which leads to higher premiums.
• Type of Medical Insurance Plan - Whether you choose an individual health insurance policy, a family floater policy, or a super top-up policy, will influence the overall cost of coverage.
• Sum Insured -The higher the sum insured you select, the higher the premium, as the extent of coverage increases.
• Optional Add-ons - Including optional riders or add-ons will increase the premium for your health insurance plan based on the corresponding coverage.
• Pre-existing Health Condition - A history of illnesses or conditions, such as asthma and diabetes, may result in higher premiums.
• Occupation and Lifestyle Habits - Hazardous work environments or habits like smoking, alcohol consumption, or a sedentary lifestyle increase health risks and may lead to higher premium rates.

• Assess Health Risks - Analyse factors such as your age, pre-existing health conditions, family medical history, lifestyle, and working environment to examine your potential health risks.
• Determine Coverage Features Required - Based on these potential health risks, identify the coverage you need. Decide between individual and family health insurance plans, and consider options like the policy period and optional add-ons.
• Compare Health Insurance Plans - Review and compare health insurance available for young adults. Evaluate the features and benefits offered under each policy to determine the best medical insurance for young adults.
• Understand Policy Conditions - Carefully read the policy inclusions, exclusions, and waiting periods to know what is covered, what is not covered, and when the coverage becomes active for claims.
• Consider Premium Affordability - Check the premium applicable for the type of health plan you need and see if it fits your budget. You can use our health insurance premium calculator to get an estimate quickly and easily.

• Step 1 - Visit the official TATA AIG website. Under the ‘Personal’ tab, select ‘Health Insurance’.
• Step 2 - Enter the required details, such as gender, who the policy is purchased for (self or family members), and the number of people to be covered. Click ‘Get Price’.
• Step 3 - Provide further details like pin code, mobile number, and email address. Mention if you have any pre-existing health conditions, then click ‘See Plan’.
• Step 4 - Review the recommended plan options, compare their features, and choose the most suitable policy. You can also customise the policy with optional add-ons if needed.
• Step 5 - Complete the KYC details and make the premium payment. Once your application is processed and approved, the health insurance policy will be sent to your registered email address.

Step 1 - Inform us about the claim. You can initiate the claim online or contact us via call or email. Please inform us at least 48 hours before planned hospitalisation, within 24 hours in case of an emergency.

Step 2

• For cashless claims - Visit a hospital, get the pre-authorisation approved by the TPA, and proceed with the treatment.
• For reimbursement claims - Visit any authorised hospital and receive the treatment.

Step 3

• For cashless claims - After treatment, submit the documents to the hospital. We will review the coverage and settle the approved expenses directly at the hospital.
• For reimbursement claims - Pay the medical bills, submit the documents to us, and we will reimburse the eligible amount.

Health insurance for young adults is now a key consideration. It helps in safeguarding young individuals from unexpected medical expenses that may arise due to illnesses, accidents, or lifestyle-related conditions.

Beyond offering comprehensive and extensive coverage, health insurance for healthy young adults also comes with the advantage of lower premiums.

It is important to secure adequate health insurance coverage early in life because serious health conditions are becoming increasingly common even in younger age groups.

In addition to core health insurance coverage, these policies also offer valuable wellness benefits that support physical and mental health.

Explore TATA AIG’s wide range of medical plans and buy health insurance that best suits your specific needs. Start early, stay protected, and be financially prepared!