Health-related issues have been rising in our current modern world. With more and more people falling ill and needing medical attention, health ailments are becoming pretty common these days. Moreover, along with these ailments, the cost of healthcare is also increasing every day. Medical treatments have become advanced in terms of technology as well as affordability.
Even a simple hospitalization can lead to a considerable hole in your pocket. And considering the rise in medical illnesses, paying the medical bills could be unaffordable for the common man. This is where health insurance enters the scene.
A health insurance policy covers your medical expenses that occur in the case of a medical emergence and hence, can be pretty handy financially. In other words, you will be able to reduce prevent financial risks if you carefully buy medical insurance in the UAE.
A medical emergency is a peril for everybody. Nobody knows in advance about falling ill and if the disease is serious, the costs involved for the treatment will be considerably high. A health plan will keep you safe from medical eventualities of this kind.
A lot of people do not believe when they hear that their health insurance can protect them from financial risks. But really, it quite easy to understand- if you are secured by a health plan, then your insurance provider will take care of your treatment cost, hospitalization, and many other things depending on the limits mentioned in your agreement.
Why is Medical Insurance important for everyone?
With time, healthcare prices have skyrocketed. The cure or treatment for serious diseases such as cancer, heart issues, diabetes, etc now charge you a huge amount of your hard-earned money and then disrupt your finances big time. In fact, you must have even heard cases where people have ended up spending all their fortune for covering their hospital bills.
Health insurance offers you security from such emergencies and is amongst the most important kind of insurance that every person must have. It is essential for people belonging to each part of the society, especially the ones who are poor and middle class. You must buy medical insurance for yourself as well as your loved ones to live a stress-free life.
Tips for Avoiding Financial Strain with a Health Plan
Here are some tips from protecting yourself from financial risks with the help of you a health insurance plan.
1. Opting for an Optimal Sum Assured Amount
Health insurance is useful only when it is able to cover your medical costs completely. This can be ensured only when you have a sufficient amount of sum assured in your policy. Therefore, while obtaining a health cover, make sure that the coverage amount is sufficient for meeting the medical expenses and covering all your family members (if it is a family plan).
2. Buy Medical Insurance Early
A lot of people think that they do not need the protection of insurance while they are young. Well, there is nothing true about this statement. Even while you are young, there are possibilities of you falling ill, contracting an infection, or suffering from other kinds of health issues. Moreover, accidents have nothing to do with age; they can happen to both young and old alike and can land the person on a hospital bed. Therefore, investing in a health policy early age is a good option. You will not just ensure medical coverage early in life, but the premium amounts will also be low.
3. Separate Coverage for your Dependent Parents
If your parents are dependent on you, they will also need medical insurance coverage keeping their age in mind. But they must be covered under a different medical plan. You can go for a senior citizen plan, which can be ideal for your parents as it would offer them the desired cover at an economical price.
4. Go for Top-up Plans for Adding-up to your Coverage
In case obtaining an optimal amount of sum assured on your policy becomes uneconomical, you must increase your coverage with the help of the top-up & super top-up plans. Such plans help in increasing the cover amount at the minimum premium prices. Therefore, the coverage is increased without pinching your pockets much.
5. Covering your Loved Ones
Medical emergencies do not come knocking on your doors. It can come to anyone at any place and at any time. In case your loved ones happen to be the victim, you will have to spend a huge amount on their medical treatment. So do not just buy medical insurance for yourself, but also cover your loved ones in a family floated plan too.
6. Maternity Covers are very helpful
There are many health insurance plans that offer cover for expenses related to maternity. Such plans are also called maternity medical plans. These policies will take care of high expenses related to maternity and provide you with financial relief.
7. Try to get Cashless Services
Medical insurance plans provide cashless treatments in case you select one of the network hospitals of the insurance provider. When you select the cashless claim settlement mode, you do not have to bear the upfront medical costs. Hence, if possible, select network hospitals for your treatments and go for cashless claims.
8. Buy an independent plan even if you have a health scheme sponsored by your employer
In case you are a salaried individual and have a medical scheme sponsored by your current employer, do not consider the coverage to be enough. The health plan sponsored by your employer will have limited features and the coverage amount. Therefore, you must have independent medical insurance yourself for supplementing your cover and also for having a comprehensive coverage benefits list.
9. Selecting a Comprehensive Health Policy
Different health insurance policies have different coverage benefits. You must compare and select a plan that has the maximum inclusive cover benefits and features for all-round security at a price that suits your pocket.
10. Critical Illness Policies can be a Good Investment
Critical health issues such as kidney failure, heart-related problems, cancer, and more have unfortunately become pretty common these days. In case one happens to suffer from any of these problems, they have to face huge financial losses due to advanced and expensive treatments. There are critical illness medical insurance plans, that turn out to be a blessing for those suffering from critical illnesses. The insurance providers pay out a lump sum benefit if the insured is diagnosed with any of the critical illnesses.
By using the above-mentioned tips on your health plan, you can easily avoid financial risks related to medical emergencies. If you and your family do not have a health cover yet, go and buy medical insurance today.