Health Insurance

Health is wealth, though this is an adage saying it holds good even today. Everyone would like to enjoy good health at all times. Yet, this is not always so. Ill health strikes when it is least expected. The concept of health insurance is that it protects a person in times of illness. For basic monthly or annual payments known as premiums, financial assistance is extended to the patient for covering the costs incurred for treatment in times of ill health.

Level of Health Insurance Cover

The level of health insurance required largely depends on the circumstances of the individual. It also depends on the age of the individual. A young, single person may not require much coverage. Once a person gets married, the coverage may extend for both spouses. Once children are born, it becomes economical to convert a single policy into a family policy.

Tax Benefits from Health Insurance

Since health insurance premiums are tax deductable to a particular extent, health insurance also has the potential to help in tax relief. Whatever the circumstances of a person, it is always beneficial in the long run to have adequate health insurance coverage.

 

Health Insurance Topics