Nowadays larger parts of our house hold expenses are spent for meeting
the medical costs. The chances of us getting infected with a health disorder
are very large and we cannot predict at what time a serious illness or an
accident will affect our life. Human life is full of uncertainties and this is
the reason why it is advisable to have health insurance coverage for all the
members of our family. If we don’t have health insurance coverage, then it
would be the greatest mistake that we commit in our life as we would have to
spend some good money from our pockets to meet the medical expenses.
The reason why most people do not take health insurance coverage is that
they are not able to meet the cost of an insurance product with their limited
income. Affordable medical insurance is something that is most common nowadays.
But it is an unfortunate fact that most of our people are unaware of the
various affordable insurance options that they can choose for. Being unaware of
these information’s means that they are not getting themselves insured and
would suffer if any major health disorder happens to them.
Finding an affordable medical insurance is not a big task. There are
many simple ways that you can make use of to save much of your insurance costs.
1. People who are engaged in profession that are very dangerous to their
life would attract only less affordable rates. If you change your profession to
another which does not expose you to hazards then the chances of you getting
affordable rates are many.
2. You should choose yearly premium instead of monthly payment. Some
people may think that these monthly payments are very comfortable. But if you
want to save the cost, then you should … Read More
There are several different types of health insurance plans out there.
When shopping for health coverage, it can get confusing. Each different policy
is broken down to satisfy every individual’s needs. It’s important to
understand that there isn’t just one type of policy out there.
Types of Health Insurance
Major Medical – This is the most popular type of policy because of the
well-rounded medical coverage. The insured pays a monthly premium in exchange
for protection from major medical expenses and a small fee for doctor office or
emergency room visits, called a copay.
Catastrophic – A catastrophic policy is designed to protect you from
major losses. These policies have a larger deductible than your standard major
medical policy ($10,000 or more) to keep monthly premium payments to a minimum.
People typically buy this kind of policy if they don’t mind paying for minor
medical costs but want protection if anything disastrous were to happen.
Indemnity – There are several different types of indemnity policies on
the market. Indemnity plans have similar benefits to major medical policies but
come with stronger limitations. These are sometimes selected by individuals as
a more affordable option.
Guaranteed Issued – Most carriers require that your application gets
reviewed by their underwriting department to determine whether or not you are
insurable. Individuals with an extensive medical history or pre-existing
conditions often do not pass their underwriting guidelines. A guaranteed issued
policy will accept individuals with pre-existing conditions and is one of the
last options for people who have been declined by other companies.
Discount Plans – There are many advertisements out there for discounts
on medical services. This might sound like health insurance, but it’s not
considered a real health insurance policy. You pay a monthly premium for a
discount on your medical services. … Read More