Individual Health Insurance Plans:
'Individual health insurance'
means providing health protection to a policy holder and/ or
to the family. It is different from group insurance. It is also
called ordinary insurance. An individual insurance policy premium
is always higher than that of group insurance. Individual
health insurance plans depend on the areas covered and
the company which offers it. In most of the cases, the plans
are so different that it is always important to have a home
work done before committing oneself to any policy.
The first thing to be done is to evaluate one's needs and understand one's health insurance options. Sometimes, if you are employed, you may find that the insurance is part of your pay packet itself. In that case, individual insurance may be unnecessary. Even if you change the company, the insurance already taken can be continued. It is better to consider such possibility before taking a policy. Once the needs are evaluated and options are considered, the next step is choosing the right insurance company. This is not very easy, because there are many offers and the competition is very high among the insurance companies. All the benefits one can get by insuring must be studied well. After a careful study, select the less expensive and more benficial one. The study includes one's budget, physician preferences, health requirements, etc. There are short term insurances and long term insurances. One's age also matters much.
Some people may prefer to keep the present doctor and some may have certain medical or surgical preferences. Most of the insurance policies specify the needs like the treatment limitations, doctor's visit in case of minor illness, and even the coverage of prescription drugs. So, it is very esential to view the wide landscape before spotting the insurance policy which becomes one's right choice.
In most of the places, students get easy and highly useful insurance offers.
It is also pssible to convert one policy into another policy,
when time and place change. Therefore, it is essential to spot
the right insurance agent to get educated about all the options.
There is also the risk of being cheated. To avoid this, it is
better to go to the related websites and collect the needed
information. Some websites provide information about all the
other websites which help those seeking inormation about insurance.
We get the right quotes, doctor or hospital selections, application
reviews, etc from these sites. In short, these sites help us
to arrive at an inormed decision.
It is also essential to know the terms used to describe the various conditions which we have to sign in the contract. If we are not familiar with the definitions or meaning of these terms, it may lead to complications at the time of receiving the benefits. An actuary, for example, is a person making the calculations to ensure that the business is priced in such a way that it becomes profitable. The word benefit means the benefit the insured (claimant, assignee, or beneficiary) gets from the insurance company when the insured suffers a loss. Those who can afford to seek legal advice or those who can get good insurance agents normally escape from such avoidable confusions. The contract has to be well formulated for the isurance companies to be on the safe side, and also for quick delivery of the benefits. This also ensures the reputation of the company.
Normally, those who are above fifty years of age have problems to get insurance on easy terms. For them the benefits also become fewer. And those who have serious medical problems find it difficult to join insurance schemes. They will have to undergo strict medical exams. However, it will be better for them to join as part of a group. But, the best way is to be on the guard at an early stage in life, and get oneself insurance coverage for lifetime.
There are insurance policies for specific diseases like cancer. There may be one time payment insurance for it, which, in fact, should be taken as a contribution towards a welfare scheme. This is like vehicle insurance. We don't expect to be a victim of an accident. Yet, we take vehicle insurance. Cancer treatment involves a huge expenditure. So, a life time insurance is quite ideal. Sometimes, the patient will have to receive treatment from a hospital at a far away place, from expert doctors. It is not possible for an individual of average income to meet the expense.
At times, insurance companies have understanding with certain organizations like Health Maintenace Organizations (HMO) or Preferred Provider Organizations (PPO). They may also have some agreement with major hospitals or reputed doctors. In all these cases, it is likely to get a better service at a cheaper rate. That is why it is important to have a good knowledge of the operations of insurance companies and their conditions before taking a policy.
Special care should be given to study the areas covered by the insurance which one would like to take. For example, the policy may not cover eye check up or its treatment. It is also likely that to get dental treatment one has to pay more. Therefore, a close srutiny of the policy is essential. If one needs the doctor to visit periodically, or to get the prescription drugs covered, the monthly premium may go up. More than knowing what is offered, it is essential to have one's needs properly formulated. In short, the more one is health conscious, the more easy it is to take care of it.
To sum up, the essential points to be remembered before taking an individual health insurance are: 1) age and the present heath conitions.2) how much one can afford to pay 3) roughly an idea about the future payment to doctor and hospital bills. 4) do you expect doctors to visit you 5) do you need routine check up 6) do you want the preventive health care to be included 7) do you know the rules for people with chronic illness 8) do you hide any facts about health 9) does your work involve risk to life 10) have you read all the rules Many a point like this can be included in this list.But the best thing is to contact the right insurance agent.
The life style of modern man has changed. Frequent travel to foreign countries
has become inevitable, either as part of his official work or
as part of his interest in meeting more people and seeing more
places. Every time he goes out, travel insurance has to be taken.
The health care rules and conditions vary from country to country.
So, it is better to find out whether the insurance policy one
takes has such benefits included in it.
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