Hi Geeta,
Your colleague is absolutely right in advising you to buy health insurance because as the person ages his/her proximity to diseases, sickness increases. Also in absence of a health insurance policy, an unexpected medical emergency can drain you financially resulting in severe financial crisis. A medical insurance policy thus provides financial security during times of medical emergency.

Also one should buy medical insurance in India with the sole aim of a risk cover. Tax benefits are the added advantage with a medical insurance policy in India. One can avail income tax benefits under sec 80D of the IT Act.

I have recently purchased a comprehensive, affordable health insurance policy from Max Bupa Health Insurance for me and my family. I am pretty satisfied with my medical insurance policy. For more information on the same, visit, MaxBupa.com