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.

---

A Guide to Insuring Your Sailing Dinghy

If you've just bought a dinghy or are thinking about... Read More

How to Shop for Individual Health Insurance

If you find yourself in the position of shopping for... Read More

Whole Life Insurance - Whole Life Insurance Information

The original purpose of life insurance was to provide for... Read More

Cheap Auto Insurance Quotes ? Tips For Getting The Lowest Rate

Finding auto insurance quotes online is easy, but finding the... Read More

Auto Insurance In Texas

If you are looking for auto insurance in texas, you... Read More

What is Travel Insurance?

Travel Insurance is designed to protect your health, belongings, and... Read More

Filing Homeowners Insurance Claim Forms: What Steps to Take

Filing a homeowners insurance claim can be done with ease... Read More

How Much Can My Auto Rate Increase After One Accident?

Accidents almost always make your insurance rates increase. Whether or... Read More

Long Term Care Insurance

Long Term Care Insurance is needed in the event that... Read More

Check Out The Variety of Auto Insurance Texas Style

They say everything is bigger and better in Texas, and... Read More

Life Insurance Without Life Value: Why Young People Are Snubbing Financial Advice

This article is written by a 27 year old female... Read More

Types of Auto Insurance Coverage Explained

A question you might ask yourself is: why must we... Read More

Life Insurance Basics

One of the most important things you can do as... Read More

Terrorism Insurance - What it Costs Small Business

The Terrorism Insurance Act of Nov. 26, 2002. This helps... Read More

Health Savings Account (HSA): How Do I Invest It?

The Health Savings Account (HSA) is an amazing tool that... Read More

Insurance For All Your Gadgets

Personalisation, Digitalisation, Mobilisation, these 3 words represent your life today.... Read More

What Is Term Life Insurance?

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

What is Car Insurance?

Car Insurance is compulsory in the UK. You are required... Read More

Life Settlements, More than a Cash Surrender Payout

With a life insurance settlement, seniors now have the ability... Read More

Life Insurance: Why Theres No Need to be a Desperate Housewife

Life insurance looks set to make a comeback in the... Read More

Home Insurance: Premium Protection In Case Mishap Takes A Rain Check

My whinstone house my castle is, I have my own... Read More

Does an HSA Cover Alternative Medicine?

A Health Savings Account (HSA) does not really cover alternative... Read More

Car Insurance Monitoring for Discounted Insurance Rates - Privacy Devouring Monster Eating Us One Bi

For a price, would you let car insurer along for... Read More

Choosing Long-Term Care Insurance

A little over sixty percent of the folks who reach... Read More

Factors That Affect Your Car Insurance Premium

Many factors affect the premium you will pay for auto... Read More

Finding Fast Life Insurance

Since the widespread growth of internet usage and database building... Read More

Finding Health Insurance for Self-Employed Individuals: A Guide For the Freelance Newbie

With a rise in those looking to venture out on... Read More

Life Insurance Providing Little Protection from Terrorism

Recent statements by the City of London Police Commissioner James... Read More

Underwriting Life Insurance For Diabetics and Diabetic Life Insurance Information

Life Insurance Companies differ in their "underwriting philosophy" when it... Read More

Why Does Health Insurance Cost So Much?

Why does health insurance cost so much? Year after year,... Read More

Auto Insurance Basics

Most people only think that insurance is something they need... Read More

State Farm Auto Insurance ? Heres A Few Factors That Determine Your Rate

There are many factors that affect the insurance rate you... Read More

Home Insurance Terms

Home insurance, or even homeowners insurance, is an insurance policy... Read More