Health Care Insurances

The recent study in Harvard University noted that statistically, the family that you are living in is just one “serious illness” away from the bankruptcy. The study conducted by Harvard University also concludes that about sixty two percent of all the personal bankruptcies in the United States of America in the year 2007 were caused   by the health problems in a family. After reading this current stat these numbers will urge you to own a health insurance or if you have one you will try to increase your current coverage.

 The best way of finding a best coverage for you is to start looking around, search collect relevant information and choose the best option. In this case the best option which is also least expensive is investing in your employer’s insurance program, many smaller businesses or firms do not offer this type of benefit. Searching an affordable health insurance program is very difficult, especially without an employer sponsored program. With the increasing cost of the services of health and also the medical bills which a lower middle class and middle class people cannot afford, due to this the health insurance has a growing market.

 If we adopt the statistical analysis of different surveys we can came to a conclusion that a family spends an average of ten percent of its monthly income on the health care. In the sub-continent where there is no social insurance for their people so, the individuals have to take care of themselves and also their families. If the illness in a family is prolonged or there is a disability can upset the budget of the family and can also upset their future planning. So in every region the importance of health insurance cannot be denied.

 It is so unfortunate that so far in the Sub continent the policies of the health care insurances is being owned by the families and the individuals who can afford to pay their medical bills. But the relevant governments are putting all their efforts to encourage the people to buy the health insurance policies and for that purpose different specialized insurance companies are promoted which is specially dealing in health insurance services. And the life insurance companies are also permitted to issue the policies at a reasonable rate.

 The procedure of buying a health insurance policy is: the proposal will contain the personal information of a person who is applying for a relevant insurance policy like the name of the person his address, his age, what does he do for living, and other important information. Company also requires the two passport size photographs and also the photocopy of his id card or the passport.  After that the individual has to submit the declaration that he is medically fit with the note from the doctor. The insurance policy varies depending on the age of an individual. If the individual’s age is less than 45 he has to pay fewer premiums on the other hand if the individual’s age is more than 45 years than he has to pay more premiums because the probability of illness increases when you cross the age of 45 years. Premiums are paid to the insurance companies by cheque to get the tax benefits. After the policy document is issued once the above requirements are completed.

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