All people in today’s world want to be successful and mostly all of them have discovered that one of the most important things required to be successful or to even live one’s life properly, is good health. One is constantly wondering how best of health can be maintained, how one can live longer. They have also realized that keeping ones health up to mark requires Money. Health Care is one of the most expensive things in the World today. Many a times when we fall sick we end up losing all our savings at one go, sometimes even have to borrow some more money. This is where Health Insurances are useful.
What is it basically.
Health Insurance is a system specially designed to help us in such unexpected situations. They help you pay the expenses to the hospital such as emergency visits, some sudden surgery etc. They take care of your basics when you fall sick. It can cover basically anything and everything of your health care. It all depends on the plan you wish to take. The main strategy used it that the expenses are paid by a number of people over a long time and when one falls sick, the burden isn’t that much on one person. This helps that person getting treated also and not being too heavy on the pocket.
It was inspired by the “accident insurances” which started long back. It was based on insuring the lost parts or the disabilities caused by them. It was slowly when this idea dragged into the 20th century, that these Health Insurances came into being. There were many problems. Many companies wanted to make profit out of this also. Slowly when the idea became popular and started spreading, it became very fair. This is when many organizations came up front and lead the Insurances. These companies made it work properly and filed some rules to be followed. Slowly different things were added, like hospital visits, medicines etc. Then the features were provided one by one.
There are so many different policies to suit everybody’s needs. One just needs to pay attention to the details and choose wisely from among the various products offered. In this, the consumer or the one getting insured has at a peace of mind. There are so many different companies and all the policies offered by them are unique. They cover different aspects of health like orthopedics, optics etc. It depends on the person who wants to get insured in what categories they need Insurance. It also depends on the Money which this person can give. There are different levels of insurance offered at different costs. It also depends on whether they are individually getting insured, insuring their entire family or if is an insurance pack for all the employees of a firm. Many companies are specific in providing insurances, like maybe for just individuals and some companies offer it to all.
The working on Insurance is based on the fact that the person pays some money to the company at the start of the year. This is generally called the Deductible. This is paid before the health plan actually starts. Then there is Coinsurance. That is the shared cost between you and the company offering the plan. There can be different stats for different policies like for example, during an accident you may have to pay 30% of the expenses and the company would pay the rest 70%. Some plans do not have this facility though. There are many other facilities provided by different companies like some plans help you save for the amount you have to pay at the start of the year, some plans give you lower monthly rates and higher rates at the start of the year. Hence there are loads of choices to choose from, one needs to look and compare and then choose wisely. The best part is we are tension free. Also, there are no compensations in the health care because if one has to pay a lot, one tends to look for shortcuts. But now, that is taken care of. There is not much burden then; most of it is taken care of.
Choosing an Insurance.
Now, choosing the Insurance is a big task. You need to realize it is a competitive world and all policies offer something to look out for. Review your policy with care. Check if we can switch later, what are the other benefits offered. One should always look out for the extras many policies have to offer. Some just provide basic health care; some with it give you many features like dentistry, physiotherapy, optics etc. See what the conditions are, how much are they costing in total. Also, if they are covering other such departments, are they of any need to you? Will these do you any good? If you presently do not have any of those problems and won’t be using them, then maybe there are some plans which cover departments of your need and also take care of emergencies in the other departments like these. Many come with benefits for the family also. In Australia, there is something called ISelect. This helps people compare different policies, suiting their needs and hence they end up choosing the best one for them. Sometimes, you can use different policies and even different companies for various things. You may find some are good for group insurances and some for individuals, Some might be offering good extras while another may have the best general care policy, some might just be good for short term while others for longer terms.
These insurances basically take tension off your heads and give oneself peace of mind. Now one does not have to worry about how one will pay for the entire surgery, or how to buy all the medicines. It saves you from paying you the entire bill on your own.
Because it is so important, most of the companies provide insurances to their employees, if you have not got one, get one individual policy on your own.
The best part is, it just does not provide for the emergency trips, accidents, big surgeries etc but also takes care of you routinely visits, normal tests etc. This of course depends on the type of policy you have opted for and what are the extra benefits you get out of it.
Many people feel they don’t really need to be insured. But do they realize how often they catch cold, visit the doctor, buy medicines. All this can be covered by insurances. Also our money is saved. There is financial security with the help of these insurances. Also there are many benefits which can be enjoyed besides the basic features of the insurance. The not so privileged people, who can afford to pay for the insurances, should do it. They get the best of facilities this way, best doctors, best care.
It also creates a habit to save little by little which slowly become life savings. This is one of the best ways to invest, the safest and with the best returns. What s better than good health? You also get facilities throughout the tenure you are paying the money for, ensuring good returns for the money you have invested. Most of the plans provide benefits in the form of tax redemption. Insurance companies provide employment to many people. This is another huge advantage.
There are many companies which provide Health Insurances in India. There is MAX Health Insurance, TATA AIG, Bajaj Allianz, Chola, Apollo, etc. Then there is L&T, Religare, all of them have a lot to offer. Now Icici has ventured into providing Health Insurance. There are profits both for the people and the company hence more companies are coming up with it.
Health Insurance is one thing which everybody should do as soon as one starts earning. It is required as we lose most of our savings in the visits to the hospitals. This can be avoided. Also, it leads to healthier people, who are tension free. It teaches people to save and invest wisely. We shouldn’t think of it as something which needs to be done only when one is sick or has some disease. It is not so. It is required by everybody these days. Not just for safety, but looking at all the other benefits it has, it should be made available to the maximum number of people today.