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Wednesday, March 4, 2009

Health Insurance -- Why Anything Less Isn't Sufficient

By Chimezirim Odimba

How will you deal with a situation where you are diagnosed with a serious illness requiring prolonged hospitalization? Will your finances withstand such a shock? Is it not a sensible idea to protect yourself by choosing health insurance? Read ahead to know why health insurance is indispensable for your health and finances.

The possibility of an individual falling prey to a major disease can never be completely ruled out. It is very dangerous to ignore this risk and remain unprotected.

A health insurance policy is the best protection against the risk of sudden health problems. If you opt for health insurance, you are guaranteed medical attention as and when you need it.

Studies indicate that those who have protection of health insurance enjoy timely medical care for all their health problems.

A health insurance policy guarantees immediate medical care as the service providers are assured of their payments. A sudden illness can cause irreparable damage to your finances if you are not protected by health insurance.

By opting for a health insurance policy, you can save for your future medical expenses well in advance. Health insurance ensures lack of funds will never affect the precious health of your family.

The government encourages investment in heath insurance by offering tax sops on the premium you pay. This is an added advantage offered by health insurance. Prompt health insurance payment will help you qualify for cheaper loans. Regular payment will boost your credit score thereby helping you get cheaper loans.

Other solutions similar to health insurance do not provide the extent of protection that health insurance offers. Health insurance, as compared to safety net care, promotes more awareness about health and improves access to care.

One home made alternative to health insurance is to establish a private fund to pay for health problems. This option rarely works in practice. Further, the issue of savings being eroded by inflation is a serious problem.

Having taken the decision to get health cover, you should identify the best deal available. The best policy is not just one which involves minimum premium payment. The coverage provided by the policy should be adequate as well.

Never decide on your health insurance policy without comparing the plans offered by different insurers. Log on to the web and get multiple quotes from different insurers available for free.

Now that you have understood the benefits offered by health insurance,, it is time to go online and get one for you and your family.

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