The Advantages of Individual Health Insurance

The Advantages of Individual Health Insurance

If there ever was a time when you might need individual health insurance, the time is definitely now. In a world like today, private health insurance really matters because you never know when something might happen to you and you might need assistance during and afterward. There are actually many advantages of having this kind of insurance advantages that, once you know about, could definitely convince you to apply for such insurance as soon as you can.

The first advantage of individual health insurance is definitely, the kind of assistance you can get that others with no private health insurance can. Since you are going to pay a premium for it, then you can expect that you will be prioritized while others may have to wait in line. At the hospital, for example, you could already enjoy benefits such as having a room exclusive for the individual health insurance that you applied for. Your private health insurance can also assign a person who will arrange for the paperwork regarding your accident or illness for you so you can focus all your efforts on getting better instead.

Second, having individual health insurance means extensive coverage which you can avail medical assistance for at any time from the beginning of the policy until the maturation date. Let us say for example the face value of your private health insurance is in the several thousand dollar range. It has only been a year since you have applied and have paid several hundred dollars. In the event that you will require medical assistance for a value that is much bigger than what you have paid, you may still be entitled to the coverage despite only having paid several hundred dollars for the premium.

Third, individual health insurance can actually be savings in disguise. Since you pay the premium every year, this money is invested by the company in different ways and earns you some dividends that can accumulate over the years. Upon maturation of your policy, you might actually get a significant amount of dividends from the payouts you have faithfully made all throughout the years. This, of course, will be dependent on the kind of policy that you applied for so you should check with the company first. These plans are called HSA's

As you can see, it really does pay to have individual health insurance. At some point, the premium can be paid for in a matter of years but the policy will be in place until your older days. There are even some plans that are transferrable, so when you are a senior citizen and feel that you are in good condition you can transfer that plan to your son instead. It might be a bit difficult to keep yourself from spending that monthly premium on something tangible like a new pair of shoes, but you should keep in mind that the notion of private health insurance will come in handier than new shoes when it matters the most when your health is concerned.

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