With fast-paced unhealthy lifestyles adopted by the new generation, unfortunately, more and more people are undergoing health emergencies like accidents, getting detected with chronic ailments. Avoiding such incidents may not be in our hands at times, but with the right planning of finances, we can reduce the stress and impact of financial burden which suddenly arises. With multiple companies offering various options choosing the right package of health insurance may become difficult to decide. You can visit our website to find the best comparisons making your job little easy.
As per an interesting story shared in www.newsday.com, It has been observed that government health insurance has a very limited scope of coverage in terms of the routine checkup changes, injury charges, drug prescription, alternative treatments apart from allopathy, dental care, physiotherapy, eye care with limited coverage and cosmetic surgeries. If we calculate the percentage of the charges mentioned above out of the total medical cost, it proves to be a considerable portion which goes out from our pocket. Hence there is a need to enrol in other private insurance policies which may cover the above and many additional health situations.
Some of the benefits of buying health insurance are:
• As mentioned above there are many medical conditions which are not taken care by social or company insurance. Specialized private health insurance companies provide you with the faster finance option to facilitate smooth treatment process.
• People don’t opt for health insurance since they consider it as an additional burden over and above their existing employer insurance coverage. Company coverage won’t be available all your life like when you will retire or change the company, or start up your own business. Hence having a coverage irrespective of your employment status is a must.
• Buying health insurance early in life gives better benefits and coverage options. Since incidents like an accident or severe health hazards can happen anywhere and anytime. Investing early in the policy would give a decent coverage
• There is also a tax advantage related to the payment of premiums. You can save tax, by enrolling for any insurance policy. This is a motivating step taken by governments world over to promote more and more people to buy health insurance policies.
• Apart from the individual’s private insurance companies offer lucrative group insurance deals. Whenever you start a new business and form a team to develop and grow your establishment, it’s a legal binding and responsibility for the employer to give the employees effective medical cover. Policies with diverse coverage scope and reasonable premiums increase employee satisfaction and develop trust In the company
• Nowadays, a major part of our job profiles demands a lot of traveling domestically and internationally. The last thing anyone of us would like is to get into some time of medical emergency on board or overseas. Travel insurance is a must for all frequent flyers.
Hence health insurance should be an integral part of your financial planning. With rising medical cost like surgeries, therapies for chronic diseases like cancer, dental treatments using the highly sophisticated equipment. Having a buffer to fall back upon at the time of trouble times is the need for the hour.