Health is wealth, but what if the health itself takes away all your wealth? The answer to this question is health insurance. Health insurance is something that people do not think about frequently, but it is something which comes to mind when one of your loved ones is sick. Health Insurance coverage and the policies offered by different corporate vary across the world, even across the different states of a nation. This article is an attempt to figure out the need and importance of a health insurance cover.
Health insurance is a special type of insurance which ensures the expenses incurred when a person covered under the insurance policy is sick. In this, the insurer pays the medical costs of the insured if the insured becomes sick due to covered causes, or due to accidents irrespective of the fact that an insurer is a private or a Government organization. Health Insurance can protect a family from financial crisis in case of critical illness.
Why Health Insurance?
The health expenses are increasing day-by-day because of the emergence of advanced technologies in health care. The longevity of people is high when compared to the previous years. So, there are more senior citizens in the country than ever, who need more medical care than the younger population. This is also a reason for an increase in price of health insurance.
A person will be given health insurance after providing health information and a personal medical history. This history includes queries related to smoking habits, weight, use of drug, and existing diseases history. Most of the times, heath insurance providers will not insure persons with existing illnesses and disorders.
The main advantages of taking a health insurance policy are:
- The health insurance will come handy when you are suffering from a critical disease
- It clears up the uncertainties related to the medical expenses in case of causality
- It helps you and your loved ones to get timely and better medical care
- Your medical costs becomes affordable with a back plan called health insurance
- It allows you to go for a yearly or monthly health check up without worrying much about the mammoth medical care expenses
In short, the need for a health insurance may seem momentous in troubled times than your life insurance cover.