Why Do I Need Health Insurance?
Health insurance provides people with a much-needed financial backup at times of medical emergencies. Health risks and uncertainties are a part of life. Health Insurance can reimburse the insured for expenses incurred from illness or injury or pay the care provider directly.
Having health insurance is important for several reasons. Uninsured people receive less medical care and less timely care. They have worse health outcomes. Lack of insurance is a fiscal burden for them and their families. Moreover, the benefits of expanding coverage outweigh the costs for added services.
Having a Health Insurance Policy helps one be financially prepared against health risks
With the constant increasing prices of healthcare in our country and with the ever-rising instances of diseases, health insurance today is a necessity. Health insurance provides people with a much-needed financial backup at times of medical emergencies. Health risks and uncertainties are a part of life. One cannot plan to get sick, but one can certainly be prepared for the financial aspect. One of the ways to be financially prepared against uncertain health risks is by buying health insurance.
Health insurance is a type of insurance coverage that pays for medical expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury or pay the care provider directly. There are different types of health insurance plans, such as individual health insurance, family health insurance, critical illness insurance, etc. Purchasing a health insurance is an integral part of financial planning.
Health insurance provides people with a much-needed financial backup at times of medical emergencies, but it is an observed fact that till date, medical care in our country remains largely as an expensive affair. According to various reports, India continues to have the lowest health insurance penetration in the world. However, government’s focus towards health schemes, new initiatives like, Ayushman Bharat Yojana, and capital expenditure towards healthcare may ameliorate the situation.
There are innumerable reasons to have a health insurance policy in place, and if you have a family to support, you can buy a family health insurance plan to take care of the medical needs of your family that OHIP does not cover like drugs and chiropractors. However, the health insurance premium that one has to pay to avail a good insurance policy varies for different people and is based on a number of different factors like age, health and number of people it is covering…
Here are the five major reasons for getting a health insurance:
- Changing lifestyle: The tectonic shift in our lifestyle has made us more prone to a wide range of health disorders. Commuting, hectic work schedules, wrong eating habits, quality of food, and rising levels of pollution have increased the risk of developing health problems.
- Rising medical costs: The medical costs have dramatically risen lately. So, in case of a medical emergency, consumers end up spending their savings, which takes a toll on their future plans.
- Income tax benefit: Payments made towards health insurance premiums are also eligible for tax deductions.
- Coverage of pre and post hospitalization expenses: OHIP may not cover all these expenses
- Additional benefits: One also gets benefits such as ambulance coverage. Physiotherapy, glasses, eye examination and dental coverages are also
Important Coverage to consider while buying a health insurance plan.
Also, when you are buying health insurance, buying critical illness insurance is suggested as well. A critical illness policy is a cover that offers to pay you a fixed sum once you are diagnosed with a critical illness that is covered by the policy. You can opt to buy a critical illness policy as standalone insurance, or you can buy it as a rider when you buy your regular health insurance. Critical illness insurance acts as a very valuable addition to the basic health cover in case you are diagnosed with a serious illness. While you can use your regular individual or family health insurance to cover your hospitalization bills, the lump sum amount that you receive from the critical illness cover can fund other essential expenses associated with your critical illness.
No Longer Covered by An Employee Benefits Package? Don’t Stress. I have a plan for you if you apply within 60 days of losing your employee benefit, I can get you guaranteed coverage with no medical evidence. That’s right, no medical evidence needed! All you have to do is answer a few basic questions and I will get you set up with quality coverage that fits your needs. Let me help you make sure the important things in life are protected – your health, family, and finances.
Contact me today for more information on how I can help with your individual health insurance needs! It’s time to make sure you have the coverage that is right for you. Don’t wait – get started now and let me help you find the perfect plan. The sooner you take action, the sooner I can help you get the coverage and peace of mind that comes with being fully protected. Let’s work together to find a plan that fits your lifestyle and budget. Give me a call or send me an email today to get started on getting the protection you deserve! I look forward to working with you. Thank you for your time and considering Glenn Stewart Insurance. Have a great day!
Call to Glenn Stewart Life and Health Insurance Broker Kitchener, Waterloo, Guelph
at 519-896-9970
Health insurance is not a luxury; it’s a necessity. 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. There are many other things you should go without before you choose to go without health insurance. With health insurance, you can help protect yourself and your family from unforeseen medical expenses and minimize the impact on your bottom line.
If you want insurance but feel unsure about what coverage works for you, there are some questions you can answer to find out.
- How’s your health? Are you currently in good health, do you see a doctor regularly, and do you engage in any risky sports or occupations? Like other forms of insurance, your insurance needs are based on your degree of risk.
- The more risky activities you take part in, the more likely it is that you’ll need higher amounts of coverage. That’s why it’s important to be honest about your health and lifestyle when applying for insurance. Knowing all the details helps ensure you get the right policy to fit your needs.