Do We Really Need Health Insurance?
The current COVID-19 pandemic has made the entire world sit up and realise that medical exigencies are unpredictable and can be financially tough to handle when the need arises. People need to understand the importance of having a good health insurance plan.
Besides, with the rising cost of medical expenses, access to good medical facility and hospitalization costs can be really strenous financially. Therefore, getting a health insurance cover for yourself and your family can provide the extra protection needed in situations like these.
What is Health Insurance? Health insurance is a type of insurance coverage that typically pays for the medical, surgical and drug prescription and even dental expenses incurred by the Insured. Health insurance can reimburse the insured for expenses incurred from illness, injury or pay the health care provider directly.
Private and Public health insurance are the two main types of health insurance. Private health insurance refers to any health insurance coverage that is not offered by a state or federal government. Public health insurance involves the state subsidizing health care in exchange for a premium.
A health insurance policy is a contract between an insurance provider and an individual or his/her sponsor. The contract can be renewable(annually or monthly) or lifelong in the case of private insurance, or be mandatory for all citizens in the case of national plans.
Health insurance helps to protect you from the financial burden of an unexpected medical bill, provides preventive care and is required by Law. A health insurance plan helps to beat medical treatment inflation.
You need to get a health insurance to;
Safeguard your family.
Fight lifestyle diseases.
Protect your savings.
Deal with medical inflation.
Opting for a health insurance plan early helps you stay secured and has numerous benefits.