Why is Health Insurance Need of the Hour? | Khasnis Prime Wealth
Rahul Khasnis
The pandemic has been a lesson to us in many ways with ‘health’ gaining the top spot. Uncalled health ailments or uncalculated deadly pandemics- a strategic investment in the health insurance policies. Usually, we tend to have a mentality that paying huge premiums for just a future conditional promise to cover any health issue seems wasteful.
Here are reasons why you cannot miss investing in good health insurance plans.
1. Hedging risks of heavy hospital bills
People usually think that heavy insurance premiums go wasted in case there are no serious ailments. Often people prefer saving the premium money and then think it is better to use it when in need. What we need to address here is the fact that you cannot calculate the amount of money you might need in case something happens. Health insurance plans take care of such expenses at all times and at any age.
2. A secure way of ensuring best health care
Well, there are times when you feel that nothing serious might ever happen to you or your loved ones. If that is true, then why wear a helmet or seat belt while driving, or wear a mask in the middle of a pandemic? Because preparedness is the key to avoiding uncalculated mishaps. The same holds true for health insurance policies as well. With uncertain inflation rates, the health sector is also becoming costlier. The best refuge is a comprehensive cost-efficient yet futuristic health insurance plan for you and your family.
3. Looking beyond transactional benefits
We all expect to utilize our hard-earned money in things that give fruitful returns. That may not be entirely true when it comes to Health Insurance plans. The transactional benefit of a health insurance plan may not be explicit when things are going well. As an investor one needs to have a futuristic approach that includes consideration of the negative possibilities. A strategic investment in a health insurance plan can save a lot at a time of difficulty. From covering major hospital bills, post and pre-care of your older parents to untimely terminal ailments- you covered thick and through.
Types of Health Insurance Plans
- Individual Health Insurance – As the name suggests such a type of health insurance is subscribed by an individual. The suitability of such plans is recommended to the individual based on age and medical history. The insurer covers his medical bills, surgical, pre, and post-medical expenditures until the insured limit is reached.
- Family Health Insurance – Family health floater plans are popular because of their wide coverage. The coverage includes your spouse, kids, and elder family members. The eye snatcher feature is that only one member of the family has to pay the premium here and the entire family is insured. The premium is usually calculated based on the age of the eldest member of the family covered under the insurance plan. One can claim the amount for more than one family member’s illness until the insured limit expires.
- Critical Illness Insurance – In this particular type of health insurance a lump sum amount of money is assured for terminal or life-threatening ailments. At the time of buying the insurance if you have mentioned certain diseases, based on the pre-selected conditions one can claim the insurance.
Apart from the above-mentioned popular options, there are numerous other customized plans as well for specific diseases like Cancer, Diabetes (Insulin-dependent patients), senior citizens, top-ups, Personal Accident Cover, etc.
Who must buy a health insurance policy?
Every Individual must go for health insurance regardless of current health conditions. One should always do proper market research to understand what are their needs and vision to make a wise decision.
We at Khasnis Prime Wealth, help such individuals who find it overwhelming to choose from the various options available by analyzing their needs and financial capabilities to suggest the best health insurance plans for optimal health care.
