Health Insurance for Individuals, Couples and Families are insurances to cover the financial risk of paying the physician, clinic or hospital when fallen sick, treated after an accident, or any other circumstances where medical assistance is needed. Such insurances vary in price, which dependent on age, level of benefits, area of coverage, deductibles and co-pays, as well as conditions may already exist prior application.
Most medical insurance provider have an age limit for first applicants of around 70 years. However, some providers are also able to accept applicants of a higher age, but the older you are, the more difficult it will become, because of deteriorating health conditions that raise the initial premium. Therefore, better get covered as early as possible.
Another important point which has a big impact on your insurance premium is the level of eligible benefits. If you opt for an insurance policy that only covers hospitalization in case of serious medical situations and emergencies, you will save your wallet a significant amount of money in comparison of insuring for additional benefits such as Outpatient (general practitioner and other physicians), Dental, or Maternity. However, long term it might be good to have Outpatient coverage as well, because medication can be a huge burden when getting older. Other aspects to consider are area of coverage, emergency assistance, or hospital access as well as client service.
It’s well worth to compare prices and speak with your insurance broker; not to have an all inclusive coverage, can be the right choice for some people. If you would like to know more, get in touch: