Health Insurance - Why One Go For Health Insurance?

Imagine a situation where your child has to be admitted to the hospital and you somehow manage to reach the hospital and then at the cash counter you are asked to pay a hefty amount and only then your child would be treated. Nothing can be more harassing than this.

It is no less than a nightmare that kin and kith of an individual is not allowed to admitted at odd hours to the hospital. Nothing can be worse if the earning member of the family is hospitalized. With the uncertainty of life it is now mandatory to cover oneself against the odds. Best way to cover oneself against such situation is to get health insurance for yourself and your family members.

An insurer that is the health insurance company is expected to pay to the insured coverage against any disease or an accident. As the cost of medical care is rising due to the frequent changes in the technologies, health insurance is getting costlier.

Before buying a health insurance policy, one must make a proper comparison between various companies that offers health plans. The various health insurance policies are formulated keeping the age and the sex of the person in mind thus an individual should study various plans carefully.

After an individual is sure about the health insurance policy and the credibility of the company then an individual can make the decision. This health insurance policy provides cover against the medical problems. A card is issued by the company to the insured which he or she can show at the time of admission to the hospital and avoid the inconvenience of making the payments right then and there.

Features Of Health Insurance:

There are three basic types of health insurance policies. One is Straight Life Policy, which guarantees to cover the person against the odds throughout the life span up to 100 years. The next basic type of policy is Limited Pay Life policy but one can restrict the time for which one wishes to pay the premium.

One can make the payments till sixty-five years of his age continuously for 10 years. Single Premium Life is the other basic type of health insurance in which an individual makes a lump sum premium. Many additional features are even offered by insurance companies, such as accidental coverage and many more alike.

Advantages Of Health Insurance:

Buying a health insurance policy can prove to be beneficial and one can make most of it by taking cover against the odds and uncertainties of life. It is advisable to buy the health insurance policy from some credible insurance company as they facilitate in the better treatment of the person. It facilitates an individual to be treated well in time and private rooms and timely services are offered.

As life is more precious than anything therefore one must not compromise on the cost of the health insurance policy. With the increasing competition, companies are now coming up with more comprehensive and cost effective policies so as to cater to the personalized needs of the customer.

There are many advantages, which an individual can bag in many of them. Some of the benefits, which come with the health insurance, are childbirth and well baby, critical illness and consultation fees coverage.

Disadvantages Of Health Insurance:

There are few limitations of these health insurance policies. The health insurance company has the right to accept or deny the application. If the health insurance company feels that an individual is susceptible to more ailments then the health insurance company will refuse to provide the cover.

The premium to be paid is never fixed; it can be changed by the company depending on the change in the health insurance policy of the government. Health insurance companies at times fail to honor the deed and this leaves the insured in a fix. At times people do not give their true medical history and this compels insurance companies to contravene the deed.

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