Health insurance or private health insurance is one of the most important of insurance products one needs to get. It is a type of protection against the risk of medical emergencies. There are many types of health insurance services on the market.
Studies reveal that over 60% of personal bankruptcies are as a result of medical expenses. The cost of healthcare rises by the day in the society. The increase in price is partly due to the cost of cutting-edge research and the sophistication of the equipment in use nowadays. The cost of healthcare, health insurance is the best way to protect oneself from the risk.
Health insurance is expensive, but when compared to the benefits, it is invaluable. Sometimes, the cost of health insurance itself makes people want to push it aside. The temptation is more common among the younger generation. Younger people seldom visit the hospital, so getting a health insurance is seen as an extra burden. In contrast, health insurance has various subscription plans so you will find proportionate to your income.
Finally, as one increases in age, the medical attention becomes more frequent. As the kindergarten adage says, a stitch in time saves nine. Often, we do not take medical symptoms seriously because we think it is just a minor case. But, the little things add up to become significant things.
When you subscribe to a health insurance plan, going for medical insurance becomes easier. This is because the medical insurance covers the cost of the periodic check-up.
In our next issue, we will discuss the financial implications of health insurance and the types of health insurance. I look forward to hearing from you.