In today’s hassle and bustle, health insurance and life insurance are becoming necessities. These tools protect us from unexpected expenses of hospitalization due to an injury or illness. Health insurance reimburses you and your loved ones if something undesirable happens. Therefore, Health insurance is a best option when you’re looking to protect your loved ones against unforeseen health expenses. Usually, health insurance covers medical expenses incurred in a hospital for the treatment of an injury or illness; health insurance also provides financial support to insured’s loved ones, in case of insured person death. Undoubtedly, insured person’s family suffers from unbearable pain when they loose their loved one; but it also makes family members’ life harder. Therefore, a health insurance or life insurance gives you peace of mind that your family will not face financial crisis upon your death. All of us should buy a health insurance policy but with full awareness of what does your policy cover and doesn’t cover? Many people feel cheated when they can’t settle claims with their insurance companies. There are many medical conditions under which your insurance company will not pay you any claim; some of are permanent exclusions and some of are waiting period basis (Read: Health Insurance Exclusions: Medical Conditions Your Health Insurance Policy Doesn’t Cover).
- How much cover do you think enough for you? Tip: Buying maximum cover may reduce your financial burden; in case you’re hospitalized due to injury or illness.
- How long do I need the coverage for? Tip: Decide the term of a health insurance plan as per your present and future needs.
- What is my budget? Tip: Stay in your budget; don’t be extravagant.
Though, you’re following every crucial step before buying a health plan. But, you can’t achieve expert level because they’re pursuing this profession for long time; and they understand customers’ needs better than an individual. So, before making final decision, take an advice from expert person. You may approach different insurance companies’ experts for advice. Usually, insurance agents don’t charge any fee; however, there is nothing wrong if they are taking some consultation fee from you.
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