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The Importance Of Health Insurance
Health insurance is an agreement whereby the insurance company agrees to undertake a guarantee of compensation for medical expenses in case the insured falls ill or meets with an accident that leads to hospitalization of the insured.
No one plans to get sick or hurt, but most people need medical care at some point. Health insurance covers these costs and offers many other important benefits.
Buying a health insurance policy for yourself and your family is important because medical care is expensive, especially in the private sector. Hospitalization can burn a hole in your pocket and your finances. It will become even tough, if the person who brings in the money, is now in a hospital bed. All this can be avoided by just paying a small annual premium which would lessen your stress in case of medical emergencies. A good health insurance policy would usually cover expenses made towards doctor consultation fees, costs towards medical tests, ambulance charges, hospitalization costs, and even post-hospitalization recovery costs to a certain extent.
Health insurance provides important financial protection in case ...
... you have a serious accident or sickness.
People without health coverage are exposed to these costs. This can sometimes lead people without coverage into deep debt.
It’s easy to underestimate how much medical care can cost:
The average cost of a 3-day hospital stay is around 30,000 Rupees
Comprehensive cancer care can cost lakhs of Rupees
Having health coverage can help protect you from high, unexpected costs like these.
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