Health Insurance: Risk Management Service
Health insurance covers medicine and visits to the doctor and emergency room. Health insurance can also be treated as risk management services. Some people have there health insurance done only as a part of there investments. There are different policies covering different types of payments treatments available to the policyholder.
One can have an individual insurance policy or a family insurance policy. There is not much difference in the services provided between the two. The main difference is in one you are paying for a single person where as in other you are paying for a group of people.
The real difference between the two is the number of persons insured. However there are advantages of group insurance as compared to tat of individual insurance. The waiting period of pre existing condition reduces to six months while in individual insurance it is one year.
There are many companies working for health insurance. They can be a government or a private limited company. There are several advantages for having a health insurance from a private company i.e. one has the freedom to choose his doctor, being treated in a private wardroom and the most important is the cashless service. In Cashless service, one do not need to pay for the medical expenses the company from where he person got insured pays to the doctor or the hospital. Many companies sponsor there employees for health insurance.
In order to have a health insurance policy one need to pay a fixed amount of premium as per the company’s rules and the policy monthly or annually as per the norms. Some policies pays to a limited amount of expenses and the rest is to be paid by the insurance holder.
At present scenario there are more than 50 companies offering Health insurance with different schemes in there hands. But it can be a great mistake for choosing the company and investing your money on the basis of schemes only.
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