Health Insurance, Life Insurance

Health care represents a growing portion of the typical household budget. To cover these costs, many families rely on health insurance. Although health insurance is often available to individuals and families affiliated with groups, such as employers or unions—see Group Health Insurance—this is not always the case. Whether because of unemployment, self-employment, or some other factor, those who either lack access or choose not to take advantage of group health policies find an alternative in Personal Health Insurance.

What Personal Health Insurance Is Not

Compared to typical group health plans, Personal Health Insurance can pose some challenges. Requirements to be met before being fully covered may be more restrictive. Individual policies are usually more expensive than group policies. Claims must be filed, which is not the case with all group policies. Preventive health care may not be covered. A higher deductible may be required for a given premium, and lower limits set for some coverages.
Who Needs Personal Health Insurance?

Given the rising cost of health care, living without some form of health insurance amounts to little more than a financial form of Russian roulette. Even in times of financial hardship, individuals and families without access to some form of group coverage are well-advised to purchase a Personal Health Insurance policy of some sort. Once disaster strikes, it's too late