What Is Health Insurance?

What is health insurance and why do I need it? Health insurance protects you and your family from a financial hardship due to medical expenses in the untimely event that you are injured or become ill. There are four types of health insurance, you may need just one or you may need a combination to ensure you have the most insurance coverage possible. It is best to evaluate each type of insurance to obtain an accurate account of which type will best suit your needs.

Individual medical coverage is designed for people who do not receive this type of coverage through their employer or family. Medical supplement insurance is designed for the elderly who contribute to Medicare however, desire additional coverage to supplement expenses that Medicare won't cover. Hospital income insurance is intended to compliment your main health insurance program. This coverage provides a prearranged daily benefit amount for unforeseen expenditures that accompany extended hospital stays for a covered sickness or injury.

The fourth type of health insurance coverage is disability insurance, which comes in three different forms. Disability insurance protects you in the event you become physically or mentally disabled due to an accident or illness. This type of insurance is designed to provide you with your living expenses if a disability prevents you from working or earning a living.

Disability income insurance is used as a principal income substitution plan or as an enhancement to your income continuance or group disability plan. This plan is devised to keep you economically secure during hard times by paying monthly wages directly to you when you are unable to work. Mortgage disability income insurance is designed to protect your most precious possession, your home. This policy specifically provides you with money meet your mortgage obligation if you become totally disabled. Individual credit disability insurance will help you pay off loan payments in equal monthly installments. In the event that you become totally disabled this plan will make payments on your behalf directly to the financial institution.

There are many things to consider when contemplating which type of insurance is most beneficial to you and how much coverage you really need. If you are working and receive insurance through your employer investigate how much coverage you are really provided in terms of health care. Then ask yourself the following series of questions:

Does it cover pre-existing conditions, genetic conditions, chronic or life threatening conditions? Does it just cover accidents that occur in the workplace? How much money will it shell out before it is considered at its limit? Will it cover the cost of transplants or long-term care? What about family members, how much coverage will your insurance plan provide them? Then think about your lifestyle. Do you drink or smoke? Is hypertension a family heirloom? Are you at high-risk for diabetes, a heart attack or stroke? Are you accident-prone or do you often take unnecessary risks? Do you work late hours and drive a considerable distance to and from work? Are you the primary breadwinner and if so how will the bills be paid if you are out of work due to an unforeseen disability caused by an accident? Consider all of these things then ask yourself if you and your family are adequately insured.

Timothy Gorman is a successful Webmaster and publisher of Best-Free-Insurance-Quotes.com. He provides more insurance information and offers free money saving auto, life, home and health insurance quotes that you can research in your pajamas on his website.

---

Inexpensive Life Insurance To Protect What You?ve Earned

Adequate life insurance to cover your income producing ability is... Read More

Which Car Should You Own To Keep Your Insurance Rates Most Affordable?

Do you consider the cost of insurance before you buy... Read More

Choosing Buy-To-Let Property Insurance

Risk is an area often overlooked by landlords, but failing... Read More

Auto Insurance for Young Drivers

The biggest worry of most parents today is their children... Read More

3 Important Moving Insurance Tips

Because of the many problems that can occur when you... Read More

Car Insurance Rates ? Can You Lower Them?

Car insurance rates are prohibitive nowadays. Many families really struggle... Read More

Medical Bills - Evaluating Your Personal Injury Insurance Claim

The value of a personal injury claim has a direct... Read More

How Is Your Auto Insurance Policy Price Determined?

The average auto insurance policy price is derived from a... Read More

Millions of Americans have No Life Insurance

Only 61% of adult Americans have life insurance (down from... Read More

Talking to Your Parents About Insurance

Who can you talk to about auto insurance? Insurance agents... Read More

The Immorality of Guarantee Issue Health Insurance

While there are genuine debates about whether privatized health insurance... Read More

Student Health Insurance - Is It Necessary?

As a young, healthy college student, it might be tempting... Read More

Is Your Financial Security at Risk?

The topic of insurance is not sexy by any means.... Read More

Discount Auto Insurance - Keep Your Hard-Earned Money

Finding discount auto insurance is so easy when you do... Read More

An Introduction to UK Home Insurance

Unlike motor cover, home insurance is not a legal requirement... Read More

Consumer Directed Health Plans

Most of you have heard about "consumer directed health plans".... Read More

What Is Term Life Insurance?

There are two different types of life insurance, term life... Read More

Sleep-At-Night Coverage With A Private Health Insurance ( Affordable Health Insurance )

Health Insurance: a sense of dissatisfactionThe three C's, customization, consumerization... Read More

Insurance Credit Scoring: An Ethical Issue

The issue at hand is the use of a consumer's... Read More

10 Ways To Save On Car Insurance

For most people car insurance is a the single largest... Read More

Individual Health Insurance Plans - How To Find The Best Provider Online

Whether you are self-employed or a small business owner, finding... Read More

Auto Insurance Rates

Auto insurance rates will vary depending on the insurance agency,... Read More

Why Should I Go To A Life Insurance Broker?

A life insurance broker is a dedicated person that encourages... Read More

Medical Insurance Overseas

Thousands of people have work related commitments and in order... Read More

Life Insurance Fears Post the London Bombings Tragedy

Following on from the tube train and bus bomb attacks... Read More

Health Insurance Providers Online - Benefits to Applying Online

Health insurance providers are going online to find new customers.... Read More

Poor call centre performances driving motorists online for insurance

In their efforts to cut costs more and more finance... Read More

Who Sets Auto Insurance Rates?

Auto Insurance rates are a complicated business. Have you ever... Read More

Your Cars After-impact Diminished Value

The(ACV)Actual Cash Value Policy DOES NOT insure the property itself... Read More

Consequences of Late Insurance Payments

Did you realize that it could cost you more than... Read More

General Knowledge - Critical Illness Insurance

Critical illness can happen to anyone, and often does. If... Read More

Compare Car Insurance Companies Before You Commit

If you want to save money on your car insurance,... Read More

Alternate Risk Transfer (ART) - Insurance Strategies

Risk ManagementAlternate Risk Transfer is a fancy way of saying... Read More