Why Has Health Insurance Become Critical During COVID-19

    230

    When it comes to health insurance, most individuals think that it is not necessary because they believe that their immune system is enough to keep them healthy. But no one can forecast the future, and even the healthiest people can be put to bed by some deadly diseases. If that situation comes, you better be prepared; hence a health insurance policy will cover all the expenses which will be incurred in those tough times.

    Covid-19 is the perfect example of the worst-case scenario a man has to face, and it also perfectly illustrates why a person needs .

    What is Health insurance?

    It is a type of policy where you agree to pay some amount monthly (this period may vary according to different insurance policy companies). If you get injured, ill, or have to go through a surgery,  the health insurance will cover all the medical expenses. Most hospitals have a tie-up with insurance companies, so they tend to provide cashless treatments for patients.

    Why it’s important to have health insurance during Covid-19?

    Covid-19 is fatal for senior citizens that means if your family is dependent on a father or mother for financial purposes, Covid-19 can be fatal for your whole family because if the earning member gets infected, it will be quite deadly to remain stable financially. Thus, many people rushed towards insurance companies or agents to buy health insurance.

    Another reason is that Indians think that health insurance is a dead investment, and it is just a burden on the wallet or a tool to get some reduction while paying income taxes. So ultimately, many individuals instantly bought health insurance because of the mortality rate and how quickly it spreads in the community.

    Covid-19 was also an eye-opening factor that taught us that one should not ignore some simple symptoms and should get a complete checkup regularly, health insurance tends to include free checkups, and people has released that it is better to be safe than sorry.

    Why health insurance is needed?

    • It will cover all your future medical expenses
    • It is highly beneficial for people who have little savings or individuals with a medium level of income.
    • It will keep your family worries free.

    The global pandemic COVID-19 has alerted people to remain well prepared for future catastrophic events. This is the prime reason why more and more people are choosing health insurance as a perfect weapon to fight diseases.

    Benefits of Health insurance

    • Pre and post hospitalization – A health insurance will cover numerous expenses incurred during pre and post hospitalization expenses for specific days. Ambulance expenses are also covered, and it will ultimately eliminate the problem of arranging the ambulance.
    • No claim bonus – A claim is given to the insurer if he does not claim any amount during some previous treatment.
    • Medical checkup – When a person takes health insurance,  he is automatically eligible to free health checkups.
    • Organ donor expense – It will cover all the expenses which will be incurred during an organ transplant. This is an add on benefit in some health insurances.

    It will provide financial stability in this expensive era. More people are buying health insurance because they know that medical expenses will rise in future

    If a person buys health insurance at a younger age, he tends to have a lower chance of high claim rejections

    Health insurance also provides some benefits from the income tax.