Friday, March 29, 2013

Health Insurance Prevents Your Financial Problems


While we may love to assume that we are in control of our lives, life is unpredictable. A sudden illness can Health insurance not only prevents financial problems caused by illness, it provides the peace of mind that most families lack in this age. There are several health insurance products available in the market. It may be confusing to choose one.
render us immobile for days on end. In the worst case scenario, the disease can leave us permanently bed ridden. Some disease could lead to bankruptcy or total financial ruin. To avoid this, it is best to take health insurance.

Normally, companies provide a health insurance as part of the package in an employment contract. This is one of the important components to consider when applying for a job. If an employer provides health insurance, this saves the costs that may have been incurred in servicing premiums. Most health insurance provided by employers are for the purposes of fulfilling labor law requirements. While some companies provide comprehensive health insurance cover, most employers only provide basic cover. Hence, the cover by health insurance from most employers is limited as to the number of services available under it. It is therefore advisable to take some private health insurance.

The main benefit of privately funded health insurance is the fact that it is not limited compared to most employer funded health insurance. Private health insurance comes in different packages. Basic cover provides for some few hours of inpatient or outpatient. Some basic cover products also provide for services such as dentistry, regular health checkups, or free basic medication. The best cover when it comes to privately funded health insurance is comprehensive cover. This kind of product gives a wider access to health services at a designated health center. The prices of these products vary.

The health insurance provided by employers is the cheapest option considering that a consumer pays nothing to access the health services. The price range of privately funded health insurance varies according to the type of cover. Individual basic cover attracts the cheapest premium in the market. The premiums are payable on a monthly basis. They are deducted directly from a consumer’s salary or they may be payable on a monthly basis. Comprehensive cover is the most expensive considering the price of premiums some insurance companies charge. The price of premium gets higher if the insurance cover extends to the client’s family.   

To avoid surprises, it is advisable to read the terms and conditions of the health insurance before signing up for any cover. If necessary, consumers should hire the services of a lawyer to advise them on what the terms of the health insurance mean. Consumers should also ask their doctors for some guidance on the best health insurance products to use. Always pay your premiums on time to avoid the risk of having no cover should a health related issue occur. While checking the price of the cover is important, price should not be the only determinant when it comes to health insurance in SW.  

1 comment:

  1. Hi, Nice post thanks for sharing. Would you please consider an intro to my website on your next post, I’ll return the favor. Please email me back. Thanks!

    Aaron Grey
    aarongrey112 at gmail.com

    Insurance blog

    ReplyDelete