Post Image

Loss of any kind is one thing that no one ever prays for, especially losses that affect one’s health. However, as humans, we understand that losses and accidents do occur. The best way to avoid them occurring is to avoid them occurring, the next best way to go about it is to make provisions ahead of time to take care of them even before they occur. This is the reason why people take out insurance. Insurance is not taken out because one has the money or because one is rich and is looking for where to put the money into.

Read more about Insurance
You may have heard of health insurance and may have wondered what it meant when people talk about health insurance. Well, in this post, you will learn what health insurance is and why you may need one.

Generally, insurance is designed to provide you with a form of compensation in the event of the occurrence of a loss or damage.

Health insurance is one of the many forms of insurance available on the market, and this form of insurance is aimed at providing you with financial support or compensation in the event of any medical emergency. Typical health insurance will normally cover the costs of all medical bills including costs of surgeries, however, many will cover part of the payments.

Health Insurance Can Provide Peace Of Mind Despite All Odds

With the high cost of accessing quality health care, the primary and probably the most important reason why you may need a health insurance plan is because of the cost of health care. Access to quality health care can be a huge financial strain on anyone. Surgical procedures, emergency treatment, prescription medicines, lab work, scans, and tests can quickly add up on the costs of one payment in order to access quality health care.

They can even be so exorbitant that people become bankrupt, oftentimes having to sell off assets in order to offset the huge costs of medical expenses. Individuals may refuse care that they require due to their inability to comfortably cater for such out of their pockets. However, with health insurance, you are not responsible for those charges on your own; an insurance plan will assist you to cover part of all of the fees and managing the complexities of medical billing.

Sign up to the Connect Nigeria daily newsletter

When Should You Take Out A Health Insurance Plan?

The wrong time to take out a health insurance plan is when you are down with one form of sickness or the other while the right time to take out an insurance plan is long before any medical emergency occurs. Just like every other form of financial investment, health insurance is not age-dependent as even a 10-year-old can have health insurance designed for it.

In addition, one of the factors that affect the cost of a health insurance plan is your age. The older you get, the higher the risks involved and the higher the risks, the higher the premium you will be required to pay. When you decide to buy a health insurance plan, it is important that you carry out the necessary research so as to ensure you are getting the best coverage for you at an affordable rate.


Getting ill or injured unexpectedly can cause you to incur expenses that you may not be able to afford. Health insurance can provide you with a safety net and also helps you manage the financial strains that can accompany maintaining your health. Remember that health insurance is not just about medical emergencies, there are so many other benefits to you.

Featured Image Source: Current School News
Got something you want to read about on our platform? Contact us:

You might also like:
This article was first published on 11th March 2022


Ifegwu-Mbonu Victor is a Personal Growth and Leadership Trainer who provides training and coaching to individuals and organizations.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *