Health insurance: cuts down your health expenses

By: Pranav V Sharma

In today’s fast and bustling life style people are so busy that they rarely have time to look after and take care of their own health. Also the stress levels are rising at an alarming rate. Due to such conditions it is likely to fall sick more often. Thus, on an average the possibility of falling victim to major health problems or diseases increases. The cost of medical expenses continues to increase at a very high rate. One needs to shell out a large amount of money and spend a lot of time in order to obtain the best possible treatment and undergo them. Already one is tensed about the health and to top it all there is a tension of the expenses. This is where health insurance comes in picture.

Health insurance can not cut down the time you need to spend due to health problems but surely can help you with the expenses that you undergo for treatments and medicines. Health insurance can be said to be a contract between an individual and the insurance provider. Here the insurance provider can either be the insurance company or the government of the nation itself and the individual can be an employee of organization that is providing the benefits of health insurance to all its employees or the individual can be a person who is buying a private health insurance for himself or his close ones.

Why take a chance for health? Afterall a healthy body is like a guest chamber for the soul and a sick body is like a prison. A person who is not insured may have to settle down with a treatment or hospital etc. that is a little less than the best just because he cannot afford to pay a big amount at a time.

For health insurance an individual has to pay a fixed amount per month. This fixed amount is known as premium. It is easier to pay premium because sparing few thousand rupees per month for health insurance is easier and much affordable than spending lakhs of money at a time at the hospital or for various treatments that you need to undergo for getting treated.

The health insurance policy can be monthly, yearly or for a life time. The monthly and yearly policies can be renewed. Health insurance also serves as a means of saving. If in case, a need to claim the coverage has never arose then a fixed amount may be equal to the maximum coverage amount is returned to the insured person.

One cares for his family, but sometimes cannot provide the best for his family members if they have to undergo any treatment or hospitalization just because it is too expensive. Thus, it is advisable to have a health insurance done for every member of the family. One would never wish to see any of his family members sick. However, with the help of health insurance one can atleast provide the best to his close ones.

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Pranav Sharma a Mumbai based insurance broker assists individuals and corporates in purchasing the right health insurance & often shares his insights about the Mediclaim industry on internet.

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