Health vs Life Insurance – What Should You Choose First?

When planning your financial protection, both health and life insurance play vital roles. But if you can only afford one to start with, which should it be? At Loan Credit Cover, we often get this question from clients looking to prioritize smartly.

Health Insurance First: Medical emergencies can strike at any age. Health insurance protects your savings from being wiped out due to hospitalization, surgery, or long-term treatment. In a world where medical inflation is rising rapidly, a health plan gives you immediate risk cover.

Why Life Insurance Matters: Life insurance ensures your loved ones remain financially secure in case of your untimely death. It's crucial if you have dependents relying on your income. Term life insurance is affordable and provides high coverage.

When to Choose Health First: If you're young, single, or don’t have financial dependents yet, getting health insurance is more urgent. It covers immediate needs and is cheaper when purchased early.

When Life Cover Comes First: If you're married, have children, or financial obligations like loans, life insurance should be your priority. It gives your family financial peace of mind when they need it most.

Smart Move: Ideally, get both when possible. But start with health insurance if your risk of hospital expenses is high. At Loan Credit Cover, we help you customize your insurance mix based on age, income, and responsibilities. Our experts can guide you to the right policies and make the process hassle-free.