Why is insurance important to your financial health?

The need to assess your health risk and hedge the same arises from the fact that the healthcare costs have been rising at more than20 per cent on an annualised basis. Also, out-of-the-pocket spending continues to be around75 per cent of the total medical expenses. Many of these are not even covered by the medical cover that you avail. Out-of-pocket expenses Although it is essential for one to avail a health cover, to reduce the risk of financial difficulties in the event of a major illness or hospitalisation, it is also important to build a corpus which will exclusively cater to your out-of-pocket expenses, this essentially means that we need to budget this regularly, the amount that you do not spend can be set aside to build a decent corpus which can be utilised for your post-retirement years' medical expenses (out-of-pocket). Globally, the healthcare segment is undergoing a revolution; the government is focusing on promoting low healthcare plans.

Insurance on the task of the client's health

 

Who will pay the client's obligations in the event of disability or death

I agree with Mr.  Bassam Mujammami answer