How Insurance Is Important For You
You might hear that health insurance is really important and essential for someone, especially those who have a job. Sometimes people will think twice when they get sick and do not have enough money to pay the hospital, treatments and medicine. The excess is not only about $1.00, it’s more than that. We are now living in an era where everything seems pricey as well as the medication. So, when someone who isn’t covered by health insurance, he chooses to stay at home and drug pickup only. He cannot receive the proper treatment. However, a health insurance helps people to deal with the cost of treatment. You can see how a health insurance is really important today. But, what is insurance itself?
• What is insurance? And the benefit.
Insurance is not given when you are in troubles or when you are in need of money to pay the school fee of your kids. Insurance is given long before bad things could happen to you. It’s like your savings for the future, but the difference is the compensation. If you do not have health insurance, for instance, you will withdraw your savings to pay for the treatments and medications. Meanwhile, if you are covered by the health insurance, then you will get the compensation on how much you have spent for the treatments. In other words, the insurance company that pays the cost. That is the meaning of insurance that we can describe. So, insurance in better meaning is the compensation for certain losses that possibly can happen in the future in changing over the periodical payment.
• The function of insurance
Insurance is a protector for company, individual and other entity that experiences significant losses. It is made with an aim to protect the financial of those users. Insurance comes in two types, ones that are optional and others which are demanded by law. Insurance which is issued will have several policies and those things should be agreed by the user. If user or the insured comes to the point where he agrees with the policies, then a contract is made between him and the insurer. The insured then is demanded to pay periodic payment (it’s called premiums) and the insurer should pay the cost if certain occurrence happens in the future. Some insurance will pay all of the cost when something happens to the insured, but there are some that only pay half of the payment.
So, like it or not, insurance have become our need today. If we suffer from severe diseases or get into an accident, things will get better when we have insurance. Insurance is not always about life insurance and health insurance. Insurance education is also important to your children. So, from now on, it would be better to set aside a little money and then take insurance.