Paying Premiums of Health Insurance
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Health Insurance is a need for all those who are not able to afford the major financial costs in case of a medical emergency as well as who doesn’t want to see his or her years of savings wiped out just to pay hospital bills.
You pay a premium for it, and all your major medical expenses are taken care of by the insurance company up to the extent of cover you have opted for.
Before you move towards investments this is a very important step in your financial life and is very important for your financial security.
It makes no sense of doing savings and investments without securing yourself from uncertainties.
Many people have this doubt or I would call it a myth which is wavering in their mind and confuses them, whether to opt for health insurance or not.
Premiums are High & We Get Nothing In Return – It goes waste, I don’t need Health Insurance!
Now look at paying premiums of Health Insurance like this,
Premiums are advance payments for a big future medical expense (that may arise anytime) in small contributions.
You can also look at paying premiums of health insurance like this,
Paying Premiums of Health Insurance is a charity, premiums you pay today are used to pay someone else’s medical expenses, and when you will be in need, other people’s premiums will be paid for your medical expenses. It’s a mutual contribution!
This will help you psychologically be more comfortable for paying premiums of health insurance.
This sudden medical expense can arise anytime, maybe in 2 years, 5 years, or even 10 years. You will be paid whenever you will be in need by your health insurance company irrespective of how many years premium you have paid, you will be covered since day 1 (excluding the various waiting periods).
So, you must have a health insurance cover for yourself if you are not financially secured or want to see your savings wiped off in case of medical emergency.
BUY HEALTH INSURANCE POLICY WITH PROFESSIONAL CONSULTATION & SUPPORT at NO EXTRA COST!
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Hi, I’m Managing Director at Gurpreet Saluja Financial Services where I help my investors to invest in mutual funds and achieve their financial goals. I’m also a Value Investor and here I write about Personal Finance & Investing.
