Health insurance verses life insurance
All information what you want about ” Health insurance verses life insurance” are described there.
Insurance company and how much types?
Insurance company create a chance for unemployment people by insurance consultant and in return for the payment of premium. There is many Insurance company do work in Pakistan. There are main four type of insurance.
Health insurance verses life insurance:
Health insurance and life insurance both covers many financial issues and serves as for different purposes.
Define Life insurance ?
This is contract between a life and insurance company and also say guaranteed payments to insured when he died.
Permanent life insurance:
When you have Major needs of funds to fulfilling the necessity then you have must option turns towards your insurance company. If you are the policyholder of life insurance policy, whole life policy, indexed universal life policy, universal policy, adjustable life then you have enough cash to access. You can borrow the the amount if you run with permanent life insurance policyholder. The funds amount which you borrow are tax free but there are interest payments. Paying back is optional if you not have cash to pay then death benefits will be lower in future.
Term life insurance policy:
Although life insurance have a limit to get benefits and coverage’s period and not accumulate cash value. While permanent life insurance have cash component. At the start of policy more you pay the premium goes toward the funding of indemnity as go on long the policy mature the cash value of policy increased.
You can borrow from life insurance and term life insurance?
Ycan borrow from life insurance when the cash value is increased in life insurance or universal insurance policy. Paying back is optional you should pay if you want more benefits to your family after your death.
CAN LIFE INSURANCE COMPANY SUE ME ?
In life insurance policy the insurance company insure the insurance holder to provide safety in term of financially support after your death. The features of insurance company toward insurance holder provide survival benefits. But if the death because of malpractice of medication and inexperienced doctor then life insurance company refused to pay the claim .ERISA solve the problems of life insurance claims. It helps the claim party by giving beneficial suits against the insurance company if company not allow to pay the claim amount.
Can you pay the premium amount for life insurance:
First of all to reduce your premium rates you should first check your policy terms as insured amount, waiting period, duration of payment. You can reduced your premium amount by reducing coverage rates if you not have to much later needs.
Coverage amount for life insurance?
life insurance policy the insurance company provide safety in term of financially support after your death. The insurance company provide survival benefits. Survival benefits is the collection of some bonuses and return investment. There are many life insurance plans for you and its also called sub type of life insurance coverage including child plan, term plan, endowment plan, ULIP, retirement plan, money back plan and whole life insurance.
Does life Insurance Covers Death Benefits?
Y life insurance policy provide you death benefits. The death benefits coverage depend upon the type of life insurance policy .
Define Health insurance?
Health insurance company covers all your medical expenses and it doesn’t pay anything else health needs.
Can Health insurance covers your healt expenses
When you buy the health insurance and you must pay the insurance premium and at the end you can fet health insurance benefits from the health insurance company.
Health insurance covers following things of policyholder:
_ Prevention and daily routine checkups
_ Diagnosed physical testing like X-rays
_ Medication and Drugs
_ Emergency medical take care
_ Outpatient And inpatient medical surgery
_ Treatment for long illness and health issues
_ Emergency for accidental injuries
Coverages vary according to the type of health insurance. Some insurance policy including comprehensive covers than another. Dental and visions insurance may or may not include.
When to get Health insurance:
Health insurance pay your for medical care. Health insurance have very special health benefits if you :
_ Have chronic health illness
_ Pay you in health conditions due to your family medical history
_ Have plan to get married and start your family.
Coinsurance Covers Death Benefits?
No health insurance not cover the death benefits . Health insurance policy cover only medical care expenses until you live. For example, when you suffer from serious illness the health insurance pay all your medical test bills like x-ray diagnoses, treatment, surgeries , hospitalization and other things related to treatment. But when you pass away due to serious illness insurance company not pay you death benefits.
CAN HEALTH INSURANCE COMPANY SUES ME?
Increased day by day and in this situation if you face the accidents or illness then you have problem. The policyholder must paying premium amounts otherwise company not accept your claim applications. In this case the insurance coverages is limit up if the hospital expenses increased above the amount of insurance coverage. It is very beneficial for riders because this policy pay your all hospital illness, rider accidents, maternity expenses and ICU room rent . At another hand if your company denied your claim then its a big shock to you when your company feel you as negligence person.
How much coverage for health insurance From insurance company?
Nowdays expenses increased day by day and in this situation if you face the accidents or illness then you have financial issues. This coverage cover your financial expenses. This cover all expenses which you face during hospitalization or medication due to illness. This insurance help you by paying all your medical bills and best treatment. It work similarly as life insurance. The policyholder must paying premium amounts otherwise company not accept your claim applications. In this case the insurance coverages is limit up if the hospital expenses increased above the amount of insurance coverage. Then insurance holder must pay the above amount of medical bills. Health insurance life span is very short almost 12 months after 12 months you must Renew your policy to get benefits of insurance coverage. It is very beneficial for riders because this policy pay your all hospital bills.
Summary:
Simply both insurance policies are very important for your to solve you medical and health issues . Health insurance covers you health and medical expenses and life insurance company provide you death benefits. The main difference between these to insurance are life insurance provide you death benefits to your family while health insurance provide yoiu medical bill expenses.
