HEALTH INSURANCE – 

we always come across the term health insurance either from advertisements or from people around us but how much we understand its importance that is very different, especially in developing countries.

In India, most of the people who own any vehicle like a bike or car have motor insurance and they keep renewing it mostly on time because the government has made it mandatory to have motor insurance and traffic police keep checking vehicles and imposing penalties on people who own bike or car without any motor insurance.

But that same person who keeps his or her motor insurance up to date might not have any health insurance because it is not an offense to be without any health insurance, especially in India. So if we think about it we value our motorbike or car more than our health and life.

It is a serious issue as sometimes people in developing countries lose their lives due to a lack of money to get good medical care and medicines. so let’s understand why we should keep it on our priority list.

WHAT IS HEALTH INSURANCE-

It is a contract between the company that provides health insurance and the person who wants to get himself protected financially against most diseases.

HOW IT WORKS –

There are many types of health insurance programs available from various health insurance companies and the individual can go through all of them and choose the best policy for him or her.

After choosing the insurance which is suitable for you, the contract is made and an annual premium is paid by the person to the insurance company. Premium amount can depend on the age, present health condition, lifestyle, and the type of insurance you choose. So it is better to take health insurance at a young age because at that time premiums are less as compared to old age people.

When you are covered by health insurance, whenever you fall sick or need hospitalization for any disease, the health insurance company will cover your medical bill depending on the type of insurance.

IMPORTANCE –

India is a developing country with most people belonging to the lower middle class. The income spending of the family can be divided into food, education of children, house rent or loan, electricity bill, transportation charges, and other bills. Whatever amount is left after this expenditure is kept for future savings.

One of the most important things to note is that most families won’t have any money kept separately for health-related issues and when someone gets sick then the money is taken from future savings to use for medical purposes.

In the time of a medical emergency this health insurance can help provide the best medical treatment available to the patient and the family doesn’t have to worry about the medical bills.

In today’s world diseases are getting more common, especially diabetes, and hypertension, and some diseases require lifelong medication which can be expensive. So health insurance can help cover medical bills and patients can continue to take medicine regularly without missing any doses due to lack of money.

TAKE HOME MESSAGE

Most Indian families are very fragile in terms of financial condition and one bad medical bill can really affect the financial condition in a big way and can send the family into poverty.

Before buying any insurance do proper research about which health insurance suits your needs the best such as which one provides the best health insurance to you and your family at less premium.

Your health is as important as your bike or car, so think seriously about getting health insurance too.

STAY SAFE AND HEALTHY.