Health insurance is a policy which will provide medical coverage and bare the healthcare expenses of insured person. It is a contract between insurance company and individual or employer for a certain opted period of time to provide the insurance coverage based on the type of plan, premium amount and coverage of services. Contract can be renewable at the time coverage end date. These days all organizations or employers providing the health insurance benefit to their employees by deducting less policy premium amount from salary and providing coverage to the dependents as well.
Earlier days, people had to face the financial risks in case of any sudden health deceases or loss, accidents occurred. Now health insurance is the best way of getting rid of such sudden health care expenses.
- Medical insurance provides coverage for all general health issues and deceases Dental insurance provides the coverage for dental problems Vision insurance includes the coverage of eye related problems
The above mentioned are basic plans of health insurance coverage. There are other specialized health care coverage policies exist which are provided for the convenience of the customers. Insurance companies will have dealings with all major and recognized hospitals so that insured employee or individual can get the services from the specified hospital. There would be a limit set to the coverage amount based on the type of policy chosen by the insured person at the time getting enrollment and based on the coverage amount, annual or monthly premium amounts are decided. Certain insurance policies also offered for the coverage of family members or dependents at fewer rates. You may pay the small amount of insurance premium for the coverage, but when major health inherent risk occurs, all your expenses will be borne by the insurance company until assured coverage amount meets.
In other countries like US, UK, Australia, Canada, etc. health insurance is must and every citizen of the country will have health insurance coverage. Many people can opt for multiple health insurance plans with different insurance companies to meet their medical necessities. In recent years health insurance concept is entered into Indian market and other developing countries. Several insurance companies are established and providing health insurance services. This is the best solution to secure the health of individual and dependents. Hence think, consult the concerned advisor of the insurance company, clarify all the doubts and get insured for the right health plan.