How Health Insurance Changed The Way We Look At Death?
Almost all of us got an adrenaline rush watching Hrithik Roshan dodging bullets in Dhoom 2. Rajnikanth immortalized roles in the South Indian cinema by defying physics, when faced with death. In an alternate universe, the impossible seems possible. Coming back to real life, we cannot cheat on death but it is possible to deter it. Can we say that health insurance is that tool that allows us to dodge bullets in difficult times? Well, in a way, yes. Health insurance policies give us enough leverage to recuperate financially from accidents and other medical emergencies. Does health insurance give us enough leverage to change our perception of death? That is left for discussion.
Health insurance: under the magnifying glass
In today’s world, where life expectancy reduces every decade, the concept of health has gained significant momentum. Health oriented drinks, foods and other lifestyle choices are indications of the way in which ‘health’ has been converted into a concept. Yet, health insurance dates before the time health turned into a fad. Covering important factors such as accidents and medical emergencies, health insurance is a must for every individual in the planet.
Why do we need it? : The fear of a huge medical bill on hospitalisation in moments of being financial incapacitated looms large on over all of us. The popularity of health insurance has surged over the entire general insurance market capturing practically half the market share. Health insurance is needed to meet the immediate financial losses that occur during hospitalisation.
What is it? Health insurance is a non-life insurance plan that gives benefits similar to a life insurance policy. An insurance policy giving health insurance insures the individual or a certain group of individuals in the event of any illness, losses or any accidents, only for a period of time. The period of time for health insurance is shorter than life insurance policies. The policyholder needs to renew the policy in order to carry it over the benefits of that policy for the next period.
Click here to gain more insights into health insurance.
What makes health insurance attractive?
As we said before, health insurance is unlike a life insurance policy. Although, for all purposes health insurance mimics a life insurance policy, but has additional riders and benefits that are occur exclusively in health insurance policies.
We look at the benefits of health insurance that help individuals and their families:
- Avail cashless medical facilities: Hospitals under the network of the insurer offer cashless facility, while others offer cash benefits for medical expenses.
- Cash benefits on hospitalisation: Imagine being paid while in hospital. Under some health insurance benefits, an individual is covered for all hospitalisation expenses, before and after being admitted in the hospital.
- Policy for families: If you were unable to find an umbrella large enough for your family, then a family floater policy ensures just that. A floater policy covers four to five members of a group or a family in a plan. One can pay a single premium for this plan that covers all.
- An ambulance for free: Some medical plans provided by insurers undertake the charges for any ambulance and the insured person will not be required to pay for the service.
- Benefits on tax: Under Section 80 D insured people from the health insurance policy get tax benefits up to a certain level of premium.
Dedicating a component of your monthly salary towards health insurance is not difficult for any individual. It is important to have the convenience of not having a heart attack with huge medical bills while in hospital. Largely known for the cashless facility and network of hospitals, non-life policies are likely to overtake the demand normal life insurance policies.
About HDFC Life
HDFC Life (www.hdfclife.com), one of India's leading private life insurance companies promoted by HDFC Ltd. & Standard Life Ltd., offers a range of individual and group insurance solutions. HDFC Life's product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, Investment and Health.
Insurance: A Guide
"Remember kids, I have life insurance" - Adam Savage
This is a guest article from Tatyana Levin
These days one must be financially savvy. Money is not easy to come by and should be managed carefully. With the availability of tools that make it easy to keep track of current events, the stock market, and even your own money, it would be almost a crime to not utilize these tools to make the best and most informed financial decisions. Unfortunately, the more there is, the more there is to keep track of. This applies both to tracking tools and money (the small curse within the comfort of having money to keep track of).
The savvier ones of us dabble in investments, and the savviest make their living that way. The key is that they know what to invest in. Not magically, of course; investors do a significant amount of research to learn how to optimize their portfolios, but they have the understanding.
A grossly overlooked investment is insurance. This may be because is not typically referred to as an investment with the exception of whole life insurance that has a specific investment component within it. Webster’s defines the word “invest” as a commitment of money for a return and “insurance” as a guarantee. This makes insurance the safest type of investment, because your returns are guaranteed. But returns are not always financial in the case of insurance. They can be, if there is an unforeseen accident, but the most certain return is the feeling of security.
Now there are many different types of insurance, and what you need depends on your current situation. Obviously you only need auto insurance, found using auto insurance leads if you have a car, and you only need renter’s insurance if you rent and have possessions that you would need insured. Insurance is for those who have something to lose. With an attachment to something, either emotional of physical (or dependence, not like physically being glued to your car), comes the fear that it will be damaged or ruined in some way. For example, if your house caught on fire, you would be devastated. What would add insult to injury is not having a way to recover from this horrible disaster.
These types of examples are not unique to this article. That is the way that insurance is sold. As they say that clichés are clichés for a reason, insurance is promoted this way for a reason. The foundation of the concept of insurance is uncertainty, and it is the same uncertainty that is conjured up when investing.
The main difference between insurance and investment is that not having insurance creates a feeling of uncertainty while investments by nature are uncertain. Therefore, investing in insurance creates security and is the only secure investment that exists (and is legal). Getting insurance should be one of the easier financial tasks if you apply all the resources available with technological advances like smart phones.
About the Author: This article was written by Tatyana Levin, a copywriter for InsuranceFiles.com
Almost all of us got an adrenaline rush watching Hrithik Roshan dodging bullets in Dhoom 2. Rajnikanth immortalized roles in the South Indian cinema by defying physics, when faced with death. In an alternate universe, the impossible seems possible. Coming back to real life, we cannot cheat on death but it is possible to deter it. Can we say that health insurance is that tool that allows us to dodge bullets in difficult times? Well, in a way, yes. Health insurance policies give us enough leverage to recuperate financially from accidents and other medical emergencies. Does health insurance give us enough leverage to change our perception of death? That is left for discussion.
Health insurance: under the magnifying glass
In today’s world, where life expectancy reduces every decade, the concept of health has gained significant momentum. Health oriented drinks, foods and other lifestyle choices are indications of the way in which ‘health’ has been converted into a concept. Yet, health insurance dates before the time health turned into a fad. Covering important factors such as accidents and medical emergencies, health insurance is a must for every individual in the planet.
Why do we need it? : The fear of a huge medical bill on hospitalisation in moments of being financial incapacitated looms large on over all of us. The popularity of health insurance has surged over the entire general insurance market capturing practically half the market share. Health insurance is needed to meet the immediate financial losses that occur during hospitalisation.
What is it? Health insurance is a non-life insurance plan that gives benefits similar to a life insurance policy. An insurance policy giving health insurance insures the individual or a certain group of individuals in the event of any illness, losses or any accidents, only for a period of time. The period of time for health insurance is shorter than life insurance policies. The policyholder needs to renew the policy in order to carry it over the benefits of that policy for the next period.
Click here to gain more insights into health insurance.
What makes health insurance attractive?
As we said before, health insurance is unlike a life insurance policy. Although, for all purposes health insurance mimics a life insurance policy, but has additional riders and benefits that are occur exclusively in health insurance policies.
We look at the benefits of health insurance that help individuals and their families:
- Avail cashless medical facilities: Hospitals under the network of the insurer offer cashless facility, while others offer cash benefits for medical expenses.
- Cash benefits on hospitalisation: Imagine being paid while in hospital. Under some health insurance benefits, an individual is covered for all hospitalisation expenses, before and after being admitted in the hospital.
- Policy for families: If you were unable to find an umbrella large enough for your family, then a family floater policy ensures just that. A floater policy covers four to five members of a group or a family in a plan. One can pay a single premium for this plan that covers all.
- An ambulance for free: Some medical plans provided by insurers undertake the charges for any ambulance and the insured person will not be required to pay for the service.
- Benefits on tax: Under Section 80 D insured people from the health insurance policy get tax benefits up to a certain level of premium.
Dedicating a component of your monthly salary towards health insurance is not difficult for any individual. It is important to have the convenience of not having a heart attack with huge medical bills while in hospital. Largely known for the cashless facility and network of hospitals, non-life policies are likely to overtake the demand normal life insurance policies.
About HDFC Life
HDFC Life (www.hdfclife.com), one of India's leading private life insurance companies promoted by HDFC Ltd. & Standard Life Ltd., offers a range of individual and group insurance solutions. HDFC Life's product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, Investment and Health.
Insurance: A Guide
"Remember kids, I have life insurance" - Adam Savage
This is a guest article from Tatyana Levin
These days one must be financially savvy. Money is not easy to come by and should be managed carefully. With the availability of tools that make it easy to keep track of current events, the stock market, and even your own money, it would be almost a crime to not utilize these tools to make the best and most informed financial decisions. Unfortunately, the more there is, the more there is to keep track of. This applies both to tracking tools and money (the small curse within the comfort of having money to keep track of).
The savvier ones of us dabble in investments, and the savviest make their living that way. The key is that they know what to invest in. Not magically, of course; investors do a significant amount of research to learn how to optimize their portfolios, but they have the understanding.
A grossly overlooked investment is insurance. This may be because is not typically referred to as an investment with the exception of whole life insurance that has a specific investment component within it. Webster’s defines the word “invest” as a commitment of money for a return and “insurance” as a guarantee. This makes insurance the safest type of investment, because your returns are guaranteed. But returns are not always financial in the case of insurance. They can be, if there is an unforeseen accident, but the most certain return is the feeling of security.
Now there are many different types of insurance, and what you need depends on your current situation. Obviously you only need auto insurance, found using auto insurance leads if you have a car, and you only need renter’s insurance if you rent and have possessions that you would need insured. Insurance is for those who have something to lose. With an attachment to something, either emotional of physical (or dependence, not like physically being glued to your car), comes the fear that it will be damaged or ruined in some way. For example, if your house caught on fire, you would be devastated. What would add insult to injury is not having a way to recover from this horrible disaster.
These types of examples are not unique to this article. That is the way that insurance is sold. As they say that clichés are clichés for a reason, insurance is promoted this way for a reason. The foundation of the concept of insurance is uncertainty, and it is the same uncertainty that is conjured up when investing.
The main difference between insurance and investment is that not having insurance creates a feeling of uncertainty while investments by nature are uncertain. Therefore, investing in insurance creates security and is the only secure investment that exists (and is legal). Getting insurance should be one of the easier financial tasks if you apply all the resources available with technological advances like smart phones.
About the Author: This article was written by Tatyana Levin, a copywriter for InsuranceFiles.com
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