What you need to know
Health insurance is a basic insurance cover that is meant to help any policy holder avoid to pay for medical expenses through the ‘out of pocket’ payment method in an event where any of their family members are hospitalised.
It is of no doubt that sometimes medical bills amount to huge amounts of money which without health insurance cover, may lead you into financial debts.
Health insurance helps you to in the payment of hospital bills as mentioned above.
Before deciding which what type of cover you want, it is important for you to know that different insurance covers come at different costs and, the type of cover you apply for will affect the overall benefit s of the health cover. For instance, ambulance services and the ability to receive international treatment if need be.
In essence, you choice of insurance cover will influence the quality of care you receive when hospitalised.
How to Select an Appropriate Health Insurance Cover
Before deciding what insurance cover you want, it is important to consider the following factors:
1. Be sure of the health service provider. Ensure you approach an insurance firm that has a reputable track record.
2. Find out whether your hospital has any health insurance partnership with any insurance firm for more efficient services.
3. Go for a health cover that best suits your health needs. An inflated cover for instance may not necessarily provide an adequate cove.
4. Compare the prices and services provided by the different insurance providing firms in the market.
Types of health Insurance Plans
Individual insurance cover which is a coverage that you purchase on your own either on an individual or family basis.
Couple insurance cover which covers for the health costs when either of the couples is hospitalised.
Family insurance which provides coverage for every member of a particular family.
Personal Accident Insurance Coverage
This is a type of health insurance cover that takes care of accidental scopes in a personalised and inexpensive life coverage. Accidental injuries occur in many forms whether at work, when driving or even at home.
This cover can either be through your employer, as a family, through an investment plan or at an individual level. It provides financial support to you and your family when you suffer an accidental injury, disability or when you die in an unforeseen accident.
The different accidental scopes where this insurance cover is applicable include:
Here, the policy holder is in contract for a period of 12 months, usually. Accidental death benefits fall within the 12 months period and I no death occurs, you can renew your policy for another similar period of time.
Usually, your next of kin receives the claim.
Permanent Total Disability
Payment is made by the insurer if the policy holder becomes permanently disabled out of an accident. For instance, loss of sight in both eyes, loss of both limbs et cetera.
Temporary Permanent Disability
The insurer will pay benefits when a policy holder suffers a partial loss. Normally, the amount received is a percentage of the sum you are insured for.
The insurer pays a percentage of your medical bills incurred during your hospitalization when you suffer injuries out of an accident. The expenses are payable in cases of a surgery, hospitalization and prescriptions.