When a person buys an insurance policy, he primarily insures himself against unforeseen situations. However, there are different situations: someone is worried about deteriorating health or illness, and someone is afraid of getting into an airplane crash. According to their goals and needs, the insured can choose a life insurance or private health insurance policy.
Health insurance
It is bought when they want to get better medical care, to use the services, including private clinics, to undergo examinations without waiting in line and to save money on treatment costs. It works as follows: the insurance company enters into service contracts with specific clinics, so that its customers without queuing and additional costs are treated there. In this case, the client does not need to know about the price of medical care, he does not pay the clinic the cost of medical services, and the insurance company the insurance premium under the contract. The list of medical institutions can be given directly to the client or he can be consulted in each case – where to go to the cardiologist, where to go to the dentist and so on.
Usually health insurance includes the following services:
- Access to clinics that have contracts with the insurance company;
- Outpatient treatment;
- Private ambulance, doctor’s house call. In the contract, the insurer will specify, for example, how many times a month the client can use this service;
- Consultations with narrow profile specialists. You will need to find out which ones are included: for example, if there is a mammologist, an endocrinologist, and so on;
- Tests and diagnostics, including ultrasound, X-rays, urine and blood tests. You should specify how often you can use these medical services (the number per year is often limited);
- Physiotherapy – inhalations, therapeutic massage, and so on. The number of procedures will also usually be limited;
- Hospitalization in the comfort wards of state clinics and private medical centers, if there is a threat to life;
- Payment for medications prescribed by a doctor;
- Dental services, including anesthesia;
- Issuance of sick leave to confirm illness at work.
Extended health insurance programs may include pregnancy and childbirth care, dental implants, 24-hour consultations with a personal physician, imaging, deluxe rooms, psychotherapy, and treatment abroad. The more services health insurance includes, the more expensive it is.
Features of life insurance programs
Life insurance refers to types of long-term insurance, so the insurance policy is usually designed for a period of 3 to 5 years, while the maximum term of the policy is 20 years. As an example, an insurance program provides that if an insured person dies, his family or friends will receive an insurance indemnity. In addition to such a risk as death, some programs may also include health damage. There are also other options for this type of insurance policy. For example, you may be able to save money into your account while receiving retirement savings.