Health Insurance: Let It Not Drain Your Wealth

Even when you feel you have enough money saved up for emergencies – at times illness can drain you, so it is best to be prepared with suitable health care insurance.

When you have enough wealth accompanied by health problems – which will slowly corrode your wealth with medical expenses.

You can take care of your health with a healthy and stress free lifestyle, but at the same time invest in a good health insurance. Through insurance plans and benefit policies, like a critical illness cover. These are not, as most people think as “only either one”. Rather you need to take into account your age, health condition and sum assured.

An Update on UK Health Insurance
Choices are plenty so spend time researching various policies before committing yourself.

A critical illness cover pays a predetermined fixed amount to the beneficiary on diagnosis o listed illnesses like cancer, bypass, kidney failure etc. In the case of a regular health plan – the actual expenses incurred during treatment and hospitalization is reimbursed to the policy holder.

For an illness like cancer or renal failure, the medical expenses are very high due to hospitalization and inability to work due to recuperation from surgery and treatment. When critical illness cover is taken as a rider to an insurance plan – it gives you an assured sum on diagnosis which helps you through loss of income during the recuperation period.

Once you use the lump-sum for critical illness the contract ends and you may not be able to apply for a new policy at this stage – it is always better to have a basic supplementary health policy also, to tide you over medical emergencies in future.

Quiz on Health Insurance
This Quiz is to test your knowledge on health insurance in the U.S, there is so much activity with the new law and building of Health Exchanges – all peaking for a January 2014 deadline.

When you buy a health policy it is best to enhance it by taking one for critical illness plan, which gives you a lump-sum payment on diagnosis.

There is an entire range of health products available in India, buy the appropriate plan to get a comprehensive health cover.

Health Insurance
This slideshow explains the concepts about healthcare insurance industry in India.

References:

Hannah Punitha (IRDA Licence Number: 2710062)

Health Insurance Exchange in Ohio Still Ambiguous
Ohio will enroll hundreds of thousands citizens for health care in their health care exchange.

Lovaii Navlakhi, April 2013

Source-Medindia