Individual Health Insurance
Individual Health Insurance
Individual Health insurance plays a very important role in the life of people of all types in this day and age. When it comes to choosing health insurance, there are many choices that are available to people. Health insurance plans are available as permanent and temporary plans as well. The basic difference lies in the time duration for which these plans are taken.
Temporary health insurance plans are the ones which are taken for a short duration of time. The time period for which these plans are available can be as short as 30 days. The time period may even vary from a period of 6 months to 12 months. The time period depends on the person buying the policy and also on the insurance company. When taking such a policy, it must be ensured that the amount of insurance is adequate.
Once the duration of a temporary health plan expires, generally the policy can be renewed if the policy holder wants. This is possible only when the health insurance policy has not been claimed i.e. the insurance money has not been taken from the insurance company. On the other hand if the insurance money has been claimed, the policy is not renewed. People who take a temporary health insurance plan must keep in mind the fact that if the insurance amount is not claimed within the period for which the policy is valid, the insurance company does not pay any health benefits after the policy expires.
Temporary health insurance plans have a few advantages. The biggest advantage of these types of insurance plans is that these plans are not very expensive. The rate of insurance premium that a policy holder has to pay is nominal. This makes the amount of buying insurance and the premium small as compared to other types of insurance plans.
Another advantage of temporary health insurance plans is that these plans best suit people who do not have a permanent health insurance plan or are waiting for one. These plans also suit the needs of people who are changing their jobs or those who have taken an early retirement. These plans also benefit college students who have just graduated or people who have just found new jobs.
There are however a few disadvantages also of these health insurance plans. Temporary health insurance plans do not cover pre existing conditions or medical conditions that existed before the policy was taken. Also these plans do not pay for routine or preventive medical care.
Another disadvantage of this type of insurance policy is that when a person opts for this type of a policy, he cannot opt for a guaranteed life insurance policy. Though guaranteed health policy is expensive but it is always better to have a guaranteed policy because of the benefits it offers.
There are many insurance companies which offer temporary health insurance plans at different premium rates. Before a person can select a policy, it is important that the premium rates of different companies are compared so that the best plan can be opted for.
Many people Temporary Individual Health insurance fits their needs well, if not you will want to go with a more traditional plan.
Temporary Plans will only take days to approve, if not hours.
Traditional Plans may take weeks , even months but are far better coverage.