Wednesday, 4 March 2009

Health Insurance -- Why Anything Less Is Not Adequate

By Chimezirim Odimba

What will happen to your family and your finances if you suddenly fall ill? Will your finances withstand such a shock? The protection offered by health insurance can make a huge difference. Let me explain why health insurance is so important.

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.

The best way to tackle this risk is to pass it on to your insurers by opting for health insurance. By paying a fixed annual amount, you are guaranteed medical attention at all times.

Studies have revealed that those who do not opt for health insurance receive less medical care and even less timely care.

A health insurance policy guarantees immediate medical care as the service providers are assured of their payments. Considering the high cost of health care today, not having protection of health insurance can wreak havoc on your finances if you fall seriously ill.

If you opt for health insurance, you will compulsorily save a small portion of your annual income for protection of your health. When health problems arise, the cost of the medical care shall be already provided for.

Your investment in your health insurance policy will not just secure your health but also provide tax benefits from the IRS. Prompt health insurance payment will help you qualify for cheaper loans. Regular payment will boost your credit score thereby helping you get cheaper loans.

Furthermore, no other alternative provides the comprehensive protection as offered by health insurance. 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. Very few save money in a disciplined manner. Furthermore, unless invested properly, the value of savings will be wiped out by inflation.

Having taken the decision to get health cover, you should identify the best deal available. An ideal policy is one which not just costs less but also offers sufficient coverage for you and your family.

Never decide on your health insurance policy without comparing the plans offered by different insurers. The easiest way of comparing different plans is to get multiple quotes online.

Simply apply for your health insurance policy and enjoy the fantastic benefits that it offers to all.

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