Health insurance is essential in our lives since it helps in saving and preparing for health-related emergencies. This is a good thing that everybody should plan for having. But first, let us look at some of the many benefits you will get from health insurance.
It is beneficial to have health insurance since you will not pay for medication. This is because the insurance company will connect you with some hospitals where you will be getting treated when you are not in good health. In this case, it will be the responsibility of the insurance company to settle the bills, and you will not have to pay any cash. With this you will receive the right treatment even if it costs a fortune.
Apart from that, it covers for a life-threatening critical illness. In this case, the insurance company will provide a lump sum when you are diagnosed and confirmed of certain critical illness like cancer, paralysis, kidney failure, stroke among others. You find that this amount of money can be used for repair, recovery, lifestyle among other essentials. One thing with this is that you will not manage it with your salary or regular earnings.
Most of the people also like health insurance because of the convalescence benefit. In this case, you will be entitled to a certain amount of money for each day of hospitalization. It is also important to note that the compensation does not depend on the number of days you spent in the hospital and you will not have to keep the records to claim your payment. You can use this money to take care of some of your personal needs when you are still in no condition to work.
Avail tax benefits and protecting your investment is another benefit of health insurance. This will help in safeguarding your savings in that you will be in a position to meet your unexpected healthcare needs without using your savings or the regular earnings. By paring your health insurance premiums it will allow you to avail predefined tax benefits.
Additionally, you will also be in a position to get allied health benefits. Meaning that they will be in a position to provide you with services that are not associated with health insurance policies. Free medical check-ups, free consultation with the doctors, tie-ups with health providers, discount coupons to mention but a few.
To sum up, I can say that health insurance has managed to save some lives that were lost because of the inability to afford medical care.