How Your Term Plan Can Save You Thousands In Healthcare Costs Every Year?

In an era defined by fast-paced living and increasing stress, term insurance is no longer a luxury but a necessity. Traditionally, a term insurance plan was viewed as a financial safety net required only for the worst-case scenarios.

However, modern term plans are breaking this mold. It's no longer about just providing a financial safety net for your family in the event of your demise, but also about empowering you to live a healthier and more fulfilling life today.

Recognizing this crucial need, modern insurers are now moving beyond simply offering a death benefit and embedding comprehensive wellness programs with the policy. These benefits are powerful tools designed to encourage policyholders to actively manage their health, offering a wide array of discounts and services that extend the value of your term plan.

A wellness benefit in a term policy is a feature designed to incentivize and support healthy living and preventive care. These benefits typically include discounted services that cover various aspects of managing your health better.

"The program aims to decrease future health dangers through its mission, which includes medical diagnosis, mental health services, elder care, and chronic condition management. The main goal of insurance companies is to provide their customers with preventive healthcare tools and services that enable them to detect medical problems before they become severe or prevent them entirely," said Sabyasachi Sarkar is MD & CEO of Go Digit Life Insurance.

If you have a modern term insurance policy, these benefits are likely already available, meaning you should be actively exploring and utilizing them to maximize your policy's value.

"Policyholders can access immediate care, such as unlimited general physician (GP) consultations and dental check-ups. These plans provide substantial discounts for patients who need specialized care during their visits to specialists, diagnostic tests, and home medication delivery," added Sabyasachi Sarkar.

The digital healthcare platforms that insurers have started to work with allow patients to access online physiotherapy services and men's health consultations in addition to their existing convenience features. The current policies offer discounts for therapy and counselling services which help people manage their stress and anxiety and improve their emotional health.

"The lifestyle-focused benefits through personalized weight management programs encourages to develop better nutrition, regular activities, Sustainable healthy habits and active lifestyles, which will support their future health goals. Wellness programs for people with long-term conditions include diabetes care, thyroid management, and PCOS care. The company offers health management solutions to policyholders, which help them move from reactive treatment to structured and long-term health management," commented Sabyasachi Sarkar.

Families are also supported through pregnancy and maternal care communities, which help expecting parents to access expert resources, consultations and peer support to reduce their stress during this critical period.

Modern wellness benefits deliver home-based care services to elderly people who need this type of support. The policy provides elder care services which include home nursing, medical equipment rentals, caregiver support and companion visits for seniors to help families handle senior healthcare requirements without needing to visit hospitals. These services function as essential connectors which unite medical services with regular life activities, particularly for working professionals who are supporting and caring for their elderly parents from a distance.

"These benefits have direct financial advantages to create a foundation which protects your future health and financial stability. The significance of this practice stems from its ability to identify health issues at their beginning, which enables them to prevent diseases before they become severe and reduces the requirement for expensive medical interventions in the future. The benefits also provide significant cost savings by reducing out-of-pocket expenses for routine care and creating a direct financial incentive to stay healthy through premium discounts," Sabyasachi Sarkar stated.

"Many new-age life insurers like Digit Life Insurance are focusing on such aspects to enable comprehensive care for their policyholders. One should look at various such benefits being offered by new-age life insurers when looking for a term plan," said Sabyasachi Sarkar.

By shifting the focus from death benefits to living benefits, one can be empowered to take charge of their health in a proactive and financially prudent manner, ensuring the term plan becomes an investment in a longer and healthier life.