Why a Health Insurance is an absolute Necessity

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In a developing country, most middle-class families are dragged into poverty due to financial over-burden of the medical bills. You may not be spending most of your income on healthcare and medication, but if a medical tragedy hits you, where are to get money for the treatment? Such situations force you to take loans or sell your assets, putting unnecessary burden on your long-term financial goals. Certain medical operations are very rare, and therefore expensive. So what do you do to live a tackle such situations? Apart from maintaining a healthy lifestyle, you should immediately get yourself a health insurance. This is not an option, but an absolute necessity.

I live in a country with a population of 1.23 billion as of this year. In country with so many people, even the government is not able to provide health incentives for everyone. So, most of the people (about 30-40%) get through their hospital admissions with the help of heavy loans and selling of most of their property or other assets. This is the major reason why the rate of people falling below the poverty line every year is rising every year- people are not able to pay hospital bills, and ending up into debts. Most of them move to other cities, giving up their jobs to take care of their sick family members, and spending most of their income and savings on healthcare treatment and purchasing expensive drugs. And sometimes lack of timely funds is the only reason why the patient is not able to receive proper medical care and have worse health outcomes. Lack of insurance is a fiscal burden for them and their families.

It is therefore always advised to adopt a health-insurance policy as soon as possible, even if you don’t want to put your foot into the other insurance policies. You don’t know how the worst times may hit you- inflation, expensive medical procedures, and inadequate funds at the time of unforeseen extreme medical emergencies. Also at the same time, longevity is rising, forcing us to consume more medical care, what do we do? We purchase a health insurance cover.

Now while there are a variety of plans available everywhere, you need to analyze your goals, weighs your options and go for a plan that suits you the best. Don’t wait for the perfect plan, because there won’t be any. You just have to understand your needs, for today, as well as the future and pick up the closest plan. Go for a lifetime renewable policies, and make sure you read the terms and conditions before you sign the documents. If you are a family person, individual policies may turn expensive, so you can go for the family floater, which a very effective service and covers the entire family under a single policy. Understand your options carefully and make sure you consult your financial advisor before you make a decision.

“Feeling healthy, and feeling good about your self is not a luxury, it is an absolute necessity. And the only person who will take care of the older person you will someday be is the younger person you are today.”

About Christopher

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