Pros and Cons of Health Insurance by General and Life Insurers
There is a debate between the health insurance provided by General insurers and Life Insurers. And this debate is the long lasting debate. Routinely Health Insurance is mainly provided by non-life insurance companies. However, now a days the life insurance companies are also in the business of providing health insurance products to the people.
So the debate is that, Which Health Insurance is better – One which is provided by a life insurance company or one which is provided by non-life (general) insurance company?
Anyways…The debate will continue forever but let us understand some pros and cons of both of these insurers.
- Recently the public sector General insurers (non-life) have withdrawn cashless facility from several 5-start hospitals. I don’t know what may be the reason but it has surely affected the policy holders. And because of this withdrawal now the policy holders have to bear several medical expenses.
- On the other hand, many believe that all around the world the health insurance sector is widely cover by the life insurance companies only. And it is the life insurers who can provide you best health insurance policies.
- Health insurance policies offered by life insurance companies are basically more long term in nature say 20 years while non-life insurance (General) company health insurance should be renewed annually.
This means that the chances of premium raising every year after year are high in case of health insurance from non-life insurance companies while in case of life insurance companies they will be much less.
- As a rule, the premiums from life insurance companies will be little bit on higher sides while the premiums on the non-life insurance companies will be a little bit lower side.
Thus, this is an endless debate. However, let me know your opinion. What is your opinion about this endless debate? Which health insurance policy you prefer?
0 comments:
Post a Comment