Advantages of A life And a Medical Insurance
Life insurance is a contract between the insurance policyholder and the insurer where the insurer guarantees payment of death benefit to the named beneficiaries upon the death of the person who is insured. Health insurance on the other hand is the coverage plan which protects you against any risks due to a number of medical conditions. This may include physical injuries, serious illnesses or chronic diseases.
Life and health insurance is very important because life is something precious and when we don’t care of ourselves we may end having a lot of difficulties in our day to day activities, they will also protect your family by taking care of the expenses that arise from unexpected illness. With the many insurance companies that are out there you can choose the one that is not only affordable but also fulfilling your requirements.
A life insurance has three components which include the death benefits, cash value, and premiums. Death benefit is given by the insurance company as a guarantee to the identified beneficiaries. In premium the insurer determines the insurance cost, administrative fees and amount required to cover mortality costs.
Having a health insurance covers you with any consultation fees, in case you are referred to a specialist where there is high consultation fee, and you need to go for monthly checkups. Sometimes you can get injured or have a very serious illnesses, when you have a health insurance policy your insurer will cater for the hospital expenses including , medicines catering, laundry, laboratory tests and also treatment.
Most health insurance policy have ambulance benefit, the insurance company will provide you with an ambulance when you have any health emergency. With a health insurance all the maternity and newborn care are also taken care of, you will never encounter any problems in futures concerning newborn care.
Life insurance unlike other types of financial instruments enjoys a favorable tax treatment because death benefits are income free and may also be estate tax free when the policy is properly owned.
Here are important tips which will help you to get the best heal and life insurance company. To avoid being scammed look for the best insurance company that is well known by many people where you come from, this is because there are many companies that are not regulated by the legal bodies. Asking is very crucial when cooking for the best insurance company, ask your friends because they may recommend you to go the best insurance company because of their knowledge concerning them. You can read books or look online for these companies if you want to know more concerning their services.
The above tips will help you to avoid any problems from arising when you are looking for these companies and you will end up getting the best company.