September 22, 2017

 

Health Insurance – a security against medical emergencies

You might have heard of the old saying,” Health is Wealth” which seems a simple sentence but its significance and meaning is so deep which says that the wealthiest thing you will ever own is good health. Being an extremely rich doesn’t do you much good if your health isn’t good and you can’t enjoy the money. Rich or poor, health is the one thing that all of us try to aim for because our happiness lies in our good health. Of course money do matters since we human beings has always strived to find money sources but a proper health is one of the most precious possessions we can have in this world. It is a treasure we should always remember to protect and take good care of & thus today health has become equivalent to the value of wealth. Though we cannot do much to prevent what is going to happen but by taking up precautionary measures, we can definitely protect the wealthiest thing of our life i.e. health. Thus it becomes so much important that we secure ourselves with a reliable health insurance plan.
Health Insurance – What is it?
Health insurance is nothing but a protection, a scheme that takes care of a person’s health when accidental and sudden medical emergencies occur. In other words, it will provide a cover to you and your family against sudden medical emergency. Here the insured person is expected to pay a specific premium amount regularly to utilize coverage benefits. Depending on the premium paid, the health insurance policy will pay specified amounts for the medical expenses incurred to overcome the health problem.
Your health insurance policy is going to be your security, which would pay for medical expenses if you face an emergency; including disability or long-term nursing, depending on the plan you choose. Thus you can rest assured that unexpected expenses in case of medical emergencies will never find you helpless.
Why Health Insurance?
Health is an asset as we all know. We are happy, only if we are healthy. Thus here arises the need of an health insurance. Also, medical expenses have sky rocketed these days. An appointment with a doctor might churn out your big bucks. The detailed medical treatment expenses could eat into your savings meant for the future. Thus health insurance policy kicks in to ensure that you get the required treatment and your pocket is still under control.
Health insurance is required when an individual is ill or requires medical checkups. It can prevent the patient from being expected to pay out of pocket expenses towards medical bills because they do not have any health insurance. Without health insurance, one may even not be able to afford expensive medical services when needed.
Benefits of Health Insurance:-
If you are taking care of all your expenses on your own then it is a wise decision to buy an individual health policy. Ideally you should look for the following benefits that these health policies give like:-
It provides coverage for your hospitalization and medical bills.

It reduces saving huge amount of financial losses, risk of financial breakdown in case of expensive medical and post-illness care.

It induces a sense of financial security to the insured & his family members.

It also provides a monthly benefit to help maintain financial stability while you recover from a disability.
Thus health insurance can help you and your loved ones to maintain the same lifestyle. It can pay the bills, secure better health care and allow you to focus on what’s important–recovery.
Types of Health Insurance:-
There are mainly three types of Health Insurance covers:
1.Group insurance : Group medical insurance offers insurance cover to a group with a common trait – it may be employees of a company, members of a club or an association or members of a co-operative society etc. Many employers now provide medical insurance as a perquisite to their employees.
2.Individual Mediclaim : This is the simplest form of health insurance policy & caters to the specific needs of an individual. It covers the hospitalization expenses for an individual for up to the sum assured limit. The insurance premium is dependent on the sum assured value.
3.Family Floater Policies : These policies are enhanced version of the mediclaim policy. A floater is a unique plan wherein the value of sum insured opted can be used by all the members of the family i.e each opted family member comes under the policy. The premium for family floater plans is typically less than that for separate insurance cover for each family member. Family floater makes sense for a family because each one in family gets a big cover.
Before going for a health policy, you need to research and understand them well. It would be a good idea to visit the sites of the various health insurance companies online to understand what they offer. You could take this one step further by meeting up with the agents of the various insurance companies, who would then advise you on what health policy is available with them and how that can be matched to your requirements.
Thus it is important to secure yourself with a reliable & strong health policy as it is the need of the hour because there are many hazards around you that might hinder your good health. You cannot buy ‘health’ but can stay secure by buying health insurance policy of your choice to face any medical emergency. So, go get the right health plan and secure yourself.