Identify four reasons which make health insurance a necessity in today’s world.
Answers
Answer:
1. Changing lifestyle: There are a plethora of reasons to have a health insurance policy in place. The tectonic shift in our lifestyle has made us more prone to a wide range of health disorders. Commuting, hectic work schedules, wrong eating habits, quality of food, and rising levels of pollution have increased the risk of developing health problems.
2. Rising medical costs: The medical costs have dramatically risen lately. So, in case of a medical emergency, consumers end up spending their savings, which takes a toll on their future plans. Reports highlight that Indians primarily depend on their own savings when it comes to tackling health emergencies.
3. Coverage of pre and post hospitalisation expenses: Not only mainstream medical costs, but also the cost of OPD (out-patient department) expenses, diagnostic tests have also risen in recent times which have made it even more vital for one to buy a health insurance policy. It is noteworthy that the medical policies not only cover the hospitalisation costs but also the expenses incurred towards OPD and diagnostic tests before and after a stipulated time period as prescribed by the policy.
4. Additional benefits: One also gets benefits such as ambulance coverage, coverage for day-care surgeries, coverage for health check-up and vaccination expenses under health insurance. These days' insurance companies also offer health insurance for Ayush treatment.
Answer:
1)Health insurance provides people with a much needed financial backup at times of medical emergencies.
2)Health risks and uncertainties are a part of life.
3)Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly.
4)Purchasing private health insurance is not compulsory. The decision whether or not to purchase private health insurance may affect your tax obligations and your ability to access the medical treatment.
Explanation:
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