The 5 Critical Times in your Life you Need Health Insurance The Most

1. Admitted to a hospital

The major uncertainty in life is getting sick. No one can predict the timeline of getting sick and be prepared for it. Being admitted to a hospital is one of the critical times when any person needs financial and moral support.

Moral support can be obtained from friends and family members, but when it comes to financial support, nothing can beat a good health insurance policy. The value of your health insurance Jacksonville FL (or wherever the policy was taken out) policy will be known at the time of your admission to the hospital.

Can you name 5 people who can assist you financially when you are in the hospital?? If you can’t even name 2 people who can help you financially then the best thing for you to do is to take a health insurance policy immediately for you and your family.

2. Accidents

Road accidents, in particular, are unforeseen incidents that require hospitalization, and there is very little time for the injured’s family to arrange for funds as the accident might result in the need for surgery.

It cannot be postponed until you accumulate funds as the timing of surgery and treatment decides the fate of the injured person.

So if you don’t want to put your family in such a difficult situation, then the best option for you is to take a health insurance policy or get enrolled in a group health insurance policy.

Hospitalization due to an accident is a critical time to consider taking a health insurance policy. But taking a policy after the need is over would be very late. A proverb in health insurance states its importance:- Better now than tomorrow.

3. Family member’s illness

Assume that your family members are admitted to a hospital, and you must immediately arrange funds for their treatment.

This time would be very critical in your life when you need a health insurance policy. If it comes down to saving your family member’s life or selling an asset, you would most probably choose the latter.

To avoid such situations, having a health insurance policy is better.

4. Income tax exemption

The other important or critical time in your life would be filing income tax returns, and there is no exemption available for you as you have not invested in anything.

If you took a health insurance policy and other investments, you would be eligible for income tax exemption.

5. Govt schemes/ Employee health insurance is not sufficient

Certain situations and critical times might exist when government health schemes and group/employee health insurance are insufficient. In that critical time, a retail or personal health insurance policy would come in handy.

The retail health insurance policy would provide additional coverage in addition to the government health schemes or group health insurance policies.