Why it's important to have health insurance?
“There is only one thing on earth which money cannot buy is “PEACE OF MIND””.
Before connecting for subject try to understand benefits available under other insurance products .
Life insurance
Which pays either on maturity or on happening insured event . Insured event applicable to riders as well.
Few money back policies pays during fixed intervals of policy term. Eg: for a 20 years money back endowment , pays at every 4th year 20% of SA and so on.
General insurance
Includes automobile insurance , personal accident , fire insurance , other specialized insurance like marine and all types of non life insurance .
All general insurance policies pays only on happening insured event post surveyor report .
Principle of indemnity applicable for all types of general insurance policies . It is not applicable to life insurance as life insurance policies are value policies .(it simply means one cannot estimate value of human life , but for product designing it uses concept of Human life value to arrive at life coverage required).
It means only to the extent of loss happend .
If one look at above 2 insurance life and general , it is clear health insurance not included or covered by neither of products .
Life insurance pays to ptotect family life style in the absence of breed earner of family and helps to achieve all goals of family as planned without any distrubsnce .
What happens if something happens to health and sickness causing due to various health problems . We cannot avoid health problems as we are exposed to various environmental , social and inheritary factors
We used to hear and see many times , who are suffering from unexpected cardiac , cancer , kidney related diseases are disposing their fixed assets like home , jewellery, liquid assets like retirement funds ,other savings to meet treatment expenses. Which effects achievement of further goals linked to spended amounts.
If health insurance is there it pays in times of health emergencies as per the terms and conditions of the policy and helps erosion of liquid cash and assets . It also handles raising medical costs day by day. No need to worry about inflation of treatment expenses etc. At end Peace of mind assured.
Why it's important to have health insurance?
- Health insurance provides financial protection in case you have a serious accident or illness. For example, a broken leg can cost up to $7,500. Health coverage can help protect you from high, unexpected costs.
- With Marketplace coverage, you’ll get access to preventive services — like shots and screening tests — at no cost to you. Getting recommended preventive services is a key step to good health and well-being.
- When you apply for insurance using the Health Insurance Marketplace®, you’ll find out if you qualify for savings that can make insurance less expensive. Before you apply, select your household size, state, and income range to see if you may qualify for financial help.
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