One of the most important types of insurance to have is health insurance.
Your good health is what allows you to work and earn money and otherwise enjoy life. If you were to come down with a sickness or have an accident without health insurance you may find yourself unable to receive treatment or even in debt to the hospital.
Thankfully, many employers provide health insurance benefits to full-time and even some part-time employees. If you do not currently have health insurance coverage this is the first place to check as it will generally be the most affordable. If you are married, you may both be able to receive coverage under just one of the employer plans.
If your employer does not offer health insurance or you are self-employed you still need it. While it may not be cheap the fact remains; what do you have if you don’t have your health? Even a basic hospital bill without insurance can run into the thousands of dollars. It isn’t worth risking financial ruin to save a few bucks on a health insurance premium.
There are many types of health-related policies, such as:
- Medical insurance, which covers private hospital and other medical bills
- Trauma (also called critical illness), which provides a lump sum if we suffer from certain illnesses or injuries such as cancer, heart disease or paralysis, stroke, heart attack etc.
- Income protection insurance, which pays a percentage of our income on an ongoing basis if we suffer from named illnesses