Global Courant
In simple terms, health insurance is an agreement where the insured person pays some money, often in installments, to the insurer by virtue of the cost of his treatment being borne by the company. It is a legal contract between an individual, group or company and the agency selling the insurance policy. All insurance policies have an expiry date. But in general they are renewable.
Because healthcare costs are skyrocketing, more and more people are opting for health insurance. It helps them get the right treatment at the right time. They don’t have to think about the expenses as the insurance company is there to take care of it. Not all people encounter a serious medical illness in their lifetime. Still, insurance keeps them tension-free and gives them peace of mind.
The requirement for medical insurance varies from person to person and so the agencies tailor policies. There are insurance policies for individuals, groups and organizations. Individual insurance is the most common policy. This type of policy only covers individually. There are endless options for individual insurance. One can select a plan according to his own personal need.
Group health insurance is taken out for groups. With this type of insurance, no personal preference is given priority. Everyone should agree with what others are going for. Insurance for organizations is designed to cover the employees of a company. This type of policy is generally taken by the owner of the business. They are never personalized.
Insurance is also available for travelers. Traveling is undoubtedly fun; but the road is also riddled with so many obstacles and there lies the possibility of financial losses. To protect yourself against financial losses while traveling, you can take out travel insurance. Like health insurance, these types of insurance are offered in different schedules and plans.
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