5 Things to Consider Before Buying ‘Health Insurance’

Illness is unpredictable; it can happen any time, especially when the weather isn’t quite reliable like this. Buying health insurance, therefore, is a method to reaffirm your security and avoid surprises on medical expenses. Here we have listed some useful advice to consider before buying the right health insurance.

1. Know the illness(es) that runs in your family.

2. Full-time employees and self-insured freelancers hold a different social security plan. Check yours and see if there’s anything else you need, and then buy health insurance to cover those.

3. Predict if there’s any potential illness you can get, according to your lifestyle.

4. Calculate your saving money to see how much you can afford to pay the insurance, and what plan you get from that amount, such as admission fee per night or compensation for hospital admission.

5. Make sure that you have some spare money left since the premium rate increases as you age, or to buy additional health insurance in case you have serious disease in the future.

Health insurance can be used for tax deduction. But when is the right time to buy though? The answer is: when it’s not too close to the tax payment period. It may take a while for an insurance company to approve your purchase. If you take too much time to decide, you might not get it before the end of the year. In conclusion, if you want to buy health insurance to deduct your taxable income, buy it before December 31 of each year.

If you are interested in buying insurance or have questions on tax deduction, visit www.axa.co.th to get more information.