There is one industry that is doing very well that is the health care industry. The lifestyle diseases such as diabetes, heart problems are on the increase. On the other side, the cost of medicines and the hospitalisation is rapidly raising. How does one cope with this challenging situation?
Planning and providing for medical expenses is very vital in your Personal Finance and life harmony. Here are a few suggestions:
- Take medical insurance cover at a young age, when you are free from any health challenge. You will not only pay a lesser premium but more importantly piece of mind. Ensure you give full facts in your application so that you don’t face any rejection in your claim later. Review the adequacy of this ever year with your Financial Mentor.
- Ensure you go for medical check-up once a year or at the frequency suggested by your family doctor. By the way, utilise your family doctor fully. If you don’t have a family doctor, I would urge you have one. Please ensure that your family doctor is a very competent general physician.
- Develop your fitness through yoga, tai chi, aerobics etc. in consultation with your family doctor. After all, prevention is always better than cure. Be consistent and inspire your family members to emulate your example. It will be great if the entire family is fitness savvy, but I have very rarely come across such families.
- Follow the diet as prescribed by your doctor or nutrition expert, particularly when you have a family history of health challenges.
- Try and learn Mudras, Acupressure and meditation from experts. We have given a few ideas in our Healthy Living website and will continue to share our thoughts.
- Most importantly develop your passive income and keep increasing the same. This will avoid a lot of anxiety about the cost of heath care and give you peace of mind. Never underestimate the role of your mind in your health.
You can also share your ideas to the above list. We are confident that with the above set of actions, you will be able to take care of the medical expenses for you and your family. Our request is try work on prevention more than actual medical care.
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