Health insurance is often treated as insurance product for middle aged persons. Youngsters opt for diet control and rigorous exercises at gyms to avoid health problems. Health conscious individuals also avoid substances that increase the chances of being afflicted with major health problems. But these dietary changes and lifestyle habits do not guarantee escape from many other health problems. Some of these health issues are not manageable because of genes. At other times, exposure to pollution causes some chronic ailment. Accident is another reason for being hospitalized unexpectedly. Infections are also uninvited and unexpected guests. Given such myriad of health problems, and the exorbitant health care costs, health insurance is almost a divine intervention.
When should you buy health insurance?
If you are young, you should buy health insurance coverage for as much as possible, even though you are not likely to raise claims against it in immediate future. Periodically, such coverage should also be increased to match with rising health care costs. When you are young, your parents to are young. Therefore, buying a floating health insurance coverage that protects you, your spouse, your children, and your parents is worth considering. Such coverage for family members often proves to be cheaper in comparison to buying additional health coverage for aging parents. Click here for comparison.
I am covered by company's group health insurance product, do I need a health insurance?
Of course, you do. Your health is not the same as that of your colleagues. You need to check if all the health problems that you and your family members are suffering with or are likely to suffer with are covered under that generalized product. Buying a supplementary health insurance product for specific ailments is possible. Additional health insurance cover never harmed anybody, because when an employee leaves the employment, the group health insurance product no longer covers him or her. Health problems on the other hand are not going to say, we will wait till you find another job.
Adding new policies becomes expensive with each passing year, isn't it?
Yes. But haven't you heard of wonderful products called top ups, and super top ups? Visit this site to read more about the differences in these two varieties of health insurance products, and traditional health insurance products. In general, top ups and super top ups are considerably cheaper because of threshold level defined in them. Claims on these policies are entertained if the health care expenses exceed this threshold limit.
Which are the cheapest health insurance plans available as of now?
Cheapest health insurance product is not necessarily the best. Moreover, health requirements differ from person to person, and family to family. Therefore, you should read that fine print, and then decide if the health insurance product is suitable for you and your family. Click here for learning how to select health insurance policies suitable to your needs.
I have identified the coverage I need. How do I go about identifying an affordable health insurance policy?
The answer is simple. You have to go online in search of various health insurance products, and study them vis-a-vis your requirements. These health insurance policies are ranked based on the claims honored, and the speed of settling such claims, apart from the coverage and price.
Don't let anybody tell you that spending on health insurance is waste. It never is. Planning for health care costs is the treacherous part of your personal finance. Save yourself this botheration by buying reasonable health insurance coverage for you as well as your loved ones.