Introduction
Health insurance refers to the financial agreement between individual (insured) and insurance company (insurer) in which insurance company agrees to cover medical and surgical expenses in exchange for monthly, half-yearly or annual premium. It helps to protect insured individual from unexpected medical expenses. In this post we are going to discuss some advantages of buying health insurance policy.
Benefits Of Having Health Insurance
Some of the main benefits of having health insurance can be highlighted as follows:
1. Provides Financial Protection
Health insurance provides financial protection against unexpected medical or surgical expenses. It covers doctor's fee, surgical charge, medications, specialist visit etc. Therefore, health insurance saves policyholder from crippling medical bills.
2, Provides Preventive Services
Health insurance providers offer preventive services such as screenings, vaccinations, regular check-ups etc. that helps to detect health issues in early stage. So, it helps to minimize serious health issues in the future.
3. Provide Quality Health-care Service
Another benefit of having health insurance is that it provides access to top-tier hospitals or clinics. Individuals can get medical service from highly qualified doctors and specialists without worrying about the costs because entire financial burden is covered by the insurance plan.
4.Provides Peace Of Mind
As we know that health insurance provides financial protection against unpredictable and unexpected medical expenses it assures peace of mind and helps the insured to live stress-free life.
5. Provides Tax Benefit
In many countries health insurance premiums can be deducted from taxable income that helps to minimize the amount of tax to be paid. So, it provides tax benefit to the insured ones.
6. Provides Mental Health Support
Many insurance companies provide coverage for counseling, consultations and therapy mental health treatment that helps to reduce depression, stress and anxiety.
7. Protects Savings
Health insurance covers entire medical expenses so, policy holders do not need to use their savings for treatment purpose. So, medical insurance helps to protect your savings.