Why Opt For Health Insurance?


The importance of health insurance in today's world:

In today's age, health care and medical costs are increasing rapidly, owing to which the uninsured are reflecting increasingly worse health conditions. The lack of health insurance is a definite financial strain on such individuals, who struggle to maintain their only viable asset, which is their health. Health insurance is important for several reasons, but most of all because it ensures that people receive timely medical treatment that can not only improve, but save their lives. In a time when even personal health is a commodity, opting for health insurance is a vital step in ensuring that you, as an individual, do not face any adversities with regard to your well being.

Every individual avails of health care at some point or the other in their life, even if they are by and large in good health. Illnesses do not strike with warning, injuries cannot be foreseen and life as a whole is unpredictable. Health insurance exists precisely for this reason, to provide individuals with affordable access to healthcare when the need arises; to counter the financial stress that manifests itself in health related matters.

As a concept, health insurance is relatively new in India, but is quickly establishing itself as a common practice. With the public growing wary of mounting medical expenses, it seems only fitting that one opt for a health insurance policy, if only as an anticipatory measure to any number of unfortunate or unlikely occurrences. As opposed to life insurance, health insurance comes with comparatively low premiums, which makes it affordable to the general masses. Owing to the same detail, however, health insurance policies need to be constantly renewed, usually as often as every year.

When considering a health insurance plan for oneself, keep in mind that there is no plan that is considered to be the best. A confusing number of options and varieties exist for potential buyers. This variety necessitates that the buyers educate themselves about the nature of, the benefits provided by and the demerits of every health insurance policy they consider. Utmost importance must be laid on what exactly it is that the policy's premium provides. When shopping around, look to get the most benefits out of the most affordable policy, but do not get hinged on 'lower fares'. High premiums often provide numerous hospitalisation benefits, as opposed to lower priced premiums. Ultimately, look out for policies that cover those costs which would be unaffordable otherwise.

Another very important aspect to health insurance is one's family. Medical insurance, when purchased in bulk for a whole family, is available at more affordable rates.  Of course, there are finer details to look at, too, such as how long you will be able to continue with the policy, what are the terms of renewal, which members of the family are eligible for the policy and for how long. Consider the term of the policy carefully, as it does not make sense to purchase health insurance that runs out in your old age, when you are most likely to need it.

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