What You Need to Know About Home Insurance

Your home is special, it is the place where you sleep, cook and socialise with family, but it is also the place where you have all your belongings. As a homeowner, you are vulnerable to property damage, theft and loss, which is why it is crucial to have home insurance so that you can rest easy knowing that your property is protected.

home insurance

Are there Different Types of Home Insurance?

Actually, there are three types of home insurance that you can consider. You will need to know what each one of these are and what they protect.

Homeowners Building Insurance

The first type of insurance is building insurance. This type of insurance covers the building structure of your home against damage or loss caused by theft, fire or natural disasters.

This type of cover can also be extended by some insurance companies to include other structures on your property like greenhouses, garages and swimming pools as well as any permanent structures around your house like toilets, fitted kitchens and baths.

There are also some insurance companies that will additionally offer Personal Liability Cover, which protects property owners from third party claims. This type of cover will offer financial protection in the case where a third party may claim against a homeowner for injury, illness or accidental death that occurs on their property as well as protection for accidental damage or loss to a third party’s property.

Home Contents Insurance

Homeowners insurance protects your structure, but it does not protect the contents of your home. You will need to get home contents insurance to protect your items.

Home contents insurance covers your household goods against loss or damage caused by fire, theft, burglary, malicious damage or natural disasters.

Your home contents insurance will protect items like home appliances, furniture, clothing, electrical goods and so on. However, fitted fixtures like taps or a carpet that can’t be moved are usually not covered by this type of insurance.

Personal Valuables Insurance

This type of insurance is a separate policy and covers personal valuables that you would usually carry or wear outside the home like jewellery, laptops, phones and so on.

You are able to get specified items and non-specified items. Non-specified items is a policy that will cover a standard list of general items and will pay out up to a certain amount in the case of damage or loss. A specified policy allows you to individually insure your most expensive items like laptops against damage or loss and will pay out up to the amount that is specified in your policy.

Wait…Home insurance is important…keep reading…

Why is Home Insurance Important

Home insurance, of course, offers you financial protection, but there are also other benefits to home insurance.

If your house should get damaged, you are able to get the repairs done in a timely manner and will not have to wait so that you are able to save up the funds that you need.

home insurance

If you suffer from an emergency covered loss, then your home insurance will offer emergency repair services in order to protect and prevent any further damage to your home.

If you are not able to live in your home due to mandatory evacuation, then your insurance policy will cover your temporary living expenses, but this will depend on whether your insurance claim is approved.

There are some insurance companies that offer a no-claims reward, which is where you will be able to get cash back after a specified number of premiums and when you haven’t claimed.

What Household Cover doesn’t Cover

You need to read and understand the terms and conditions of your cover, so that you know what you are covered against.

If you are unsure about any part of your insurance policy then it is a good idea to speak to a broker or an attorney, so that you can better understand the policy.

The majority of home insurance policies will cover a wide range of accidents, but there are some cases where your claim might be rejected.

Claims that could be rejected include:

  1. Damage occurring from pets.
  2. If you run a bed and breakfast from your home, appliances in the rooms will be excluded from household cover.
  3. Not all theft claims are covered unless violet or forcible entry on the property is visible.
  4. If there are signs of poor property maintenance which results in damage that could have been avoided.
  5. Damage to the property from roots and weeds
  6. If there is a lack of sufficient security in place at the time of your claim.
  7. If your home was left unoccupied for a significant period of time.

Home insurance is important as it offers you the financial protection that you need in the event of any unexpected circumstance. Home insurance will give you peace of mind as you know you are protected. Without home insurance, you may find that you will have to pay a lot out of your own pocket to replace items, repairs and other such things. You can then save money further down the line with home insurance if anything happens.

Moneyshop Personal Loans

With Moneyshop, you can apply for a personal loan of up to R150 000. Moneyshop is partnered with some of the best personal loan specialists in South Africa, which makes applying for a loan easier than ever.

moneyshop

Applying for a personal loan with Moneyshop, just takes four easy steps.

  • Step 1: Fill out the Moneyshop online form
  • Step 2: Wait for your credit check
  • Step 3: If you pass the credit check, you will receive a call back from an agent about your loan application.
  • Step 4: If your loan application is approved by the lender, you will receive your loan within 48 hours.

Moneyshop works with a number of personal loan providers, so that they can find the right loan for you. The service is completely free and the whole process is conducted online or over the phone and pre-approval can often be received on the same day.

Get a personal loan with Moneyshop and pay for those emergencies, holidays, a wedding, medical bills or anything else that you need cash for.

What To Consider Before Choosing Your Health Insurance Plan

In the event of illness or an emergency, you will want to have access to quality and private medical care, but medical aid can be extremely expensive, which is why health insurance can be invaluable in times of need. When you are looking at health insurance, there are a few things that you need to consider before you choose your health insurance plan.

health insurance

What Can You Afford

You first need to determine what you are able to afford. It is a good idea to compare health insurance plans in terms of their cost and the cover that they offer. If you are not able to afford a health insurance plan, but you know that in times of an emergency you need access to private medical aid, then you can consider taking only a hospital plan. This will give you private hospital care in the case of an emergency.

Do You Get Sick A Lot?

Think about how often you get sick and see a GP. If you don’t get ill often and don’t require too much cover for GP visits then you are able to save money by opting for a starter hospital plan. If you are looking for cover for your whole family, then you need to keep in mind that children who go to school are exposed to more germs and need a fuller cover that offers frequent doctor visits.

Even if you don’t get sick often or if you are only covering yourself, your health insurance plan will assist with x-rays, dental check-ups and other care that you may need from time to time.

Can You Visit the Doctor of Your Choice

Before you sign for a health insurance policy, you need to make sure that you are able to visit the doctor or hospital of your choice. Good health insurance plans will allow you to visit any medical practitioner whereas others may only allow you to visit specified doctors and hospitals in your area. This could mean that you will have to travel further, open new medical records with new doctors in the case of an emergency.

hospital plan

There are still a couple of things that you need to know when you get health insurance…

What Cover Are You Getting?

You will determine the amount of cover that you will receive from a health insurance plan. You should find out how much your doctor usually charges for an appointment and then compare this to what the health insurance provider pays. If there is a shortfall then you need to make sure you can afford this. If you can’t then you should consider paying a slighter higher premium for fuller claim amounts, so that you can pay less out of pocket for medical care.

What Does the Plan Cover?

You need to read every single detail of the health insurance plan before you sign. You need to know exactly what you are covered for like maternity care, blood tests, chronic medication and other such things. You need to make a list of items that you have to be covered for and ensure that the policy suits you and your family needs.

What are the Benefits of Health Insurance

Health insurance and medical aid are often confused. Health insurance is the supply of a lump sum that will cover hospital care due to an emergency, accident or operation and you can claim money paid for GP and dentist visits and other medical needs depending on your plan. Health insurance is catered to the customer and is suited for the individual and is literally insurance for your health.

So, what are the benefits of health insurance?

Outpatient Care

Getting the care, you need is highly important, especially for those that have chronic diseases like heart conditions, diabetes and mental illness. Health insurance is able to offer cover and privileged care to patients without having to be hospitalised. Health insurance will offer a lump sum that allows for this type of care to be possible.

A Focus on Mental Health

The majority of medical aids will have a maximum limit where they will no longer be able to provide care to a patient in terms of mental health. Health insurance, on the other hand, allows patients to treat their mental illness without having to worry that they will deplete their care benefits. There are also health insurance plans that will cover addiction with rehabilitation as the treatment being offered, which is not common with medical aids.

Still more benefits below, so keep reading to know them all…

Life Is Easier with Extra Benefits

Health insurance may offer additional benefits that some medical aids don’t. For instance, pregnant mothers and chronic patients can sometimes receive extra care. Pregnant women may have access to counselling and extra care before, during and after birth. Also, cover can be implemented when necessary as there is no waiting period to go to a medical practitioner or hospital.

health insurance benefits

Chronic patients can receive care that covers hospitalisation according to their needs, the cost of various tests and emergency cover when patients need care, surgery or counselling immediately that assists in managing their condition.

Suited to Your Needs

With health insurance, you are able to get the care you need at a price that is not determined by your current health, which means those that are seen as high risk by medical aids can get care.

Health insurance is also a viable option for those that seek minimal health cover as they can get cover that is suited to what they want. Cover is based on what you need and doesn’t define you in the same way as everyone else, but rather looks at your extra needs and provides for these.

Health insurance is a great product to have and is more affordable than medical aid that can leave you with shortfalls. Health insurance offers the care that you need at a price that suits your budget, making it a viable option for individuals.

 

10 Practical Ways to Cut Expenses and Save Money

If you need to save some money or need to cut back on your expenses in order to pay off debt, but you aren’t really sure how or where you can make cutbacks then take a look at these 10 practical ways that you are able to cut your expenses and save some money.

save money

Stop and Think Before You Buy

Have you seen something that you absolutely must have? Well, before you buy it, stop and think about it. You should give yourself at least 24 hours before you really decide if you have to have it and giving yourself 72 hours is even better. You can save yourself quite a bit of money when you do this because even though at the time you thought you had to have it, you will realise that your life is just as satisfying without these things.

When the impulse buying urge kicks in, stop and give yourself a time out and go away from the item and think about it. You can also ask your friends and family to help you call this time out.

Alternatives that Cost Less

You don’t need to give up on the things that you enjoy doing, but rather find low cost substitutions. For instance, if you are an avid book reader then why not go to the library instead of the bookstore or if you play golf swap a tee time for a trip to the driving range. You will be able to save a little here and there, but this can add up.

Do You Really Need Fancy Things?

You may believe that your value is represented by the things you own, but making smart financial decisions has a lot more value. You should look at your lifestyle and see what changes you can make. This could be your house, your car or your clothes. You should look at where you can downsize and rather be financially secure than having a bunch of fancy things.

Wait…There are more ways to make cutbacks below…

Why Drive When You Can Carpool

You can cut down on the number of times that you use your car, which will then save you money on petrol. You can look at creating a carpool with other parents, for instance, for taking the kids to school or you can carpool with other employees once a week. Another option would be to use public transport if you can.

If you are still working, you can find out if it is possible for you to work remotely from home once a week.

If you have errands to run, then write them all down and get them done in one day and plan for times when there isn’t a lot of traffic. You could even consolidate and carpool all at once and run your errands with a friend.

Resist Your Favourite Store

Is there a shop that you can’t resist going into and every time you do, you end up spending money? Whatever, your favourite store is the next time you go by it, just keep going and resist that urge to walk in. You need to break the habit of shopping for the sake of shopping, so find other things to do to occupy your time like going for a walk, reading a book or having a cup of coffee.

coffee

If your weakness is online shopping then rather watch an episode of a show you enjoy or a movie or even a music video instead of shopping.

In order to make this work, you need to replace your shopping habit with a new habit and it is a lot more satisfying having your savings increase then just buying stuff.

How Much Are You Paying Each Month

You need to take a look at your home expenses and see where you can save money. Take a look at your phone bill and see if you are paying for any extras that you don’t need, which can be turned off. Also, look at your satellite TV bill and see if you are paying for channels each month that you don’t need, as these expenses can quickly add up.

Also, turn off your heater or air-conditioning during the day and when you are not at home. It won’t be as comfortable in your home when you walk through the door, but the savings will add up.

Time to Cook

It is easy to consistently buy your lunch or dinner, but this can add up to a lot of money if you are in the habit of doing it every day. You should take a lunch from home once in a while and before you head out for dinner or order a takeaway, check your pantry and see if you can come up with a creative meal at home.

If you have to eat out often, then skip the sodas, or alcohol or other drinks and go for water. This is better for you and will save you money on drinks when you have lunch or dinner.

Keep reading for more practical ways to save money…

Sales and Discounts Help You Save

With a little effort, you will be able to pay less for most things. You will be able to find sales and discount codes that will save you money. Many online retailers constantly have offers where you can save money on clothes, household items and more, so you should check for these. Physical stores also have sales and offers, for instance, a supermarket might be offering discounts on certain products and even though it may not be your brand, you can give it a try and save some money.

However, be careful, many of us get tempted into spending more because there is a sale. You should then resist buying things you don’t need and only buy what you do. Take note of the things that you already buy and find ways to get these for less or if you need new clothes, determine what you already own and what you need and only look for these items in the sale and not get tempted by other items just because they are on sale.

Stay Fit at Home

Exercising and being fit is important and if the only way you are able to stick to an exercise regime is through a gym then keep your membership.

home fitness

However, if you are a self-motivated type of person then there are plenty of ways you can stay fit without having to pay a monthly fee. You can walk, run, watch fitness videos on YouTube, do yoga, push-ups, sit-ups and more. You don’t need to pay to stay fit.

Turn Your Hobby into a Business

If you have a hobby, have you ever thought about turning it into a business? You may not make a lot of money, but you can make some to cover the cost of your hobby and maybe even a little extra to save.  So, if you have an arts and crafts hobby like beading, knitting, making jewellery, baking or anything else then see how you can make some money from it.

If you are a horse rider, you can perhaps make a trade where you work in the stables for a few hours a week in exchange for lessons. You can do this for a number of hobbies and it doesn’t hurt to ask as you can still enjoy your hobby but without the cost behind it.

Implement some of these practical money saving tips and use the money you save to pay down debt that you may have or put it away in a savings account and just watch it grow.

Manage Your Debt Problems

If you are facing debt problems then you need a sound debt management plan, which usually consists of three parts.

paying off debt

Create a Budget

The first thing that you will need to do is to list all your sources of income no matter how big or small. Gather all your payslips, interest payouts, rental incomes, policy payouts etc. You need to know how much money you have to work with so you can avoid overspending.

Now you will need to list all of your monthly expenses, even those smaller ones that you may forget about. Determine how much you spend on groceries, utilities, entertainment, toiletries, subscription services, parking, snacks, eating out or takeaways etc.

Next, you will need to list all the credit providers that you owe money to and how much you have to pay each month. You will be able to find this information in your credit report.

You will need to allocate some of your income to a savings fund that creates interest. This money should only be used in a case of an emergency.

Also, there will be expenses that don’t occur regularly like holidays, a doctor’s visit, a wedding etc. You should have a contingency fund for these type of expenses.

Prepare a Debt Repayment Plan

You will need to have a good plan in place to avoid debt. Once you have your budget, you will have a better understanding of where your money goes each month.

You need to have the goal of paying your debt off as soon as possible by using any additional income or extra cash that you have into paying off your debt. You may find that you will need to make cutbacks in order to pay off debt.

You can focus any extra funds on a high interest debt first as once this debt is cleared, you will be able to free up some money that you can then use to pay off your second largest debt and so on. Or you can start with a small debt to get the ball rolling and tackle your largest debt last.

Stick to Your Plan

You may find that you are not keeping track of your accounts and expenses, which can then lead to unnecessary spending.

You then need to stick to your budget. You should update your expenses daily and review and adjust your budget every month.

You also need to avoid taking on any new debt and focus on paying off the debt that you have.

Paying off debt takes discipline and if you need further help, you can get advice from a debt counsellor and they may assist in creating a debt management plan for you.

 

Cover All Your Bases with Health Insurance

With Insurance.co.za you will be able to find health insurance that suits your needs.

Health insurance covers any extra costs that may arise from hospitalisation. With health insurance, you will be paid a lump sum or a daily cash amount if you are in hospital for more than 72 hours. The cash that you receive can be used the way you want to, whether you need to pay for medication, making your home suitable for rehabilitation purposes or even a holiday.

health insurance

Please keep in mind that health insurance is not a medical aid scheme and should not be treated as such. Health insurance catches any shortfalls by paying out cash.

Insurance.co.za offers an obligation free service and will source you health insurance quotes that you can compare, so you get the best available deal.

Life can be unpredictable and if an unexpected circumstance comes your way, you can count on health insurance to catch you when you need it most.

Strategies to Beat High Interest Rate Debt

If you are sitting with a large balance on a credit card that has a high interest rate then you might be feeling frustrated as your monthly repayment is being used to pay the interest rather than the balance, which means your debt will only be reduced by a small amount each month. Paying off your high interest rate debts first will save you money in the long run, but this might not be the best method to undertake due to your finances.

credit card debt

Here are some top strategies that you can implement to help pay off your high interest rate debt.

Need a Lower Interest Rate – Just Ask

It is a good idea to speak to your creditors and ask them if they would be willing to lower your interest rates. If you have always paid on time or have only missed a payment or two then you might find that they will do this.

If other credit card companies have offered you lower interest rates then you can use this in your negotiations for a lower rate with your credit card company.

Make the Transfer to a Low Interest Rate Credit Card

You may only need a few months that are interest free to pay off your balance. You will find balance transfer cards that offer promotional periods where they do not charge interest. This could give you the break you need to pay off your balance without having to worry about the interest. Just make sure that you pay the balance before the interest kicks in.

If you are not able to move your entire balance to a single credit card then just move a portion as this will lighten the load and you can focus on paying this off before the interest is charged.

Take on Your Small Debts

If you are not in a position to first get rid of your high interest debts then you may want to consider tackling your smaller debts first. This will help you to free up some extra money that you can then use to pay down your high interest rate debts. You should create a list of your debts and determine which ones you can pay now and which ones will need to wait.

Once you have cleared a smaller debt, that money you were putting towards it should go straight to paying another credit card balance.

Wait…there are more strategies you can try…keep reading…

Pay The Most You Can

Due to most of your monthly payment going towards interest, you will need to pay more towards your payments in order for you to make any kind of progress in paying off your high interest debts. You may find it best to pay the minimum on all your other debts and any extra money that you have can go towards paying a single high interest rate debt.

Once one debt has been paid off you can start to work on your next highest interest rate debt and so on until you have cleared all of your debts.

Reduce Your Expenses

You will need to look at how you can squeeze your budget so that you have more to put towards your credit card debt. You can cut back on eating out, cut back on coffee, disconnect your cable, reduce your cell phone plan and so on. Making these cutbacks are only temporary and every little bit that you save to put towards your credit card debt will help your progress.

Debt free

You Might Need to Wait

Your debt free goal might be unachievable right now if you are not able to make any budget cuts or create more income, but that just means you will need to delay your debt free goal.

You will still need to make the minimum payments on your credit card balances so that you can avoid going further into debt and damaging your credit. Of course, these minimum payments will mainly go towards the interest, but you still need to make them.

After a few months, you can re-evaluate your budget and expenses and see if you are able to start making a dent in your debt.

Get Credit Counselling

You can seek the help of a credit counsellor or a debt counsellor that will be able to create a debt management plan for you.

These counsellors will review your finances and will help you to create and implement a plan with the aim of you becoming debt free.

A debt consolidation loan is another option that you may have, but it’s not for everyone. This is where your debts are all housed under one loan, which means you will only have one repayment each month. This monthly repayment is usually lower and the interest rates are more manageable.

If you have high interest debt then you do need to tackle it whether, you pay smaller debts first or take on your largest and highest interest rate debt first. You need to look at how you are able to save money so you have extra to put towards your debt and determine the best strategy for you and your finances.

Start Living a Debt Free Life

If you are over indebted then a debt review could be the solution for you. You will have the expertise of a dedicated and certified debt counsellor that will guide you through the process.

With Debt Expert, you will be protected from creditors as they will take over all negotiations for you. Your monthly payments are reduced by up to 60%, which means you will receive an affordable solution for your budget.

debt expert

 

You will be able to start leading a debt free life and also receive:

  • Immediate financial relief
  • Protection of assets
  • Protection against legal action
  • One reduced monthly instalment
  • Constant access to your progress
  • Credit record clearance

If you want to start your debt free life, get in touch with Debt Expert here and apply for your debt review.

4 Types of Insurance You Should Have

There are a number of insurance policies that cover almost everything, but there are 4 types of insurance plans that should be part of your financial strategy. These plans cover your health, your life and your possessions and not only offer you protection but also your loved ones.

Here are the 4 types of insurance that you should have.

Health Insurance

One of the most important insurance policies you should have is health insurance. Having good health allows you to work, earn money and just enjoy life.

health insurance

If you were to fall to a serious illness or suffer in an accident and are not insured then you may not be able to get the treatment you need or end up in debt.

Many companies will offer employees health insurance benefits, so you should check what cover your company is offering and take advantage of this benefit. However, it’s still good to look at all your options and compare plans so you get the cover you need.

You will need to consider premium costs, co-payments, deductibles, covered expenses and network coverage to determine which plan offers the greatest benefits.

If you would like to find a health insurance plan then you are able to contact insurers directly or you can browse the internet. You will find websites that will source and find the best health insurance plans for you, which allows you to compare plans easily and choose the best deal with the benefits you need.

Life Insurance

Life insurance is vital if you are married or have children, but everyone is able to benefit from life insurance.

There are a number of needs that life insurance is able to meet. If you are married, for instance, then it is able to substitute lost income, pay your debts after you die or pay for your child’s education. If you are single then your life insurance can be used for your funeral costs and to pay off any debts that you may leave behind.

If you do not currently have life insurance then you should first check with your employer as many employers will offer a basic life insurance and you might be able to buy additional coverage at an affordable rate. Apart from your employer, you will find plenty of insurance companies that will offer the coverage you need.

You will need to consider if you should buy term or permanent life insurance. Term life insurance covers for only a specific time, which is usually between 5 and 30 years whereas permeant life insurance will cover for your entire life as long as you pay the premiums. Permanent life insurance will also give you the ability to build up a cash value that you are then able to borrow or you can use it for an investment.

Term life insurance does offer flexibility and is cheaper, but permanent life insurance is the better choice if you are looking for an investment.

Your age and health will determine if you can get life insurance. The healthier and younger you are then the lower the cost. Also, part of the application will include a brief medical exam.

Wait…There are still two more policies you need…

Property Insurance

When you have a mortgage, you will need to have homeowner’s insurance. When you borrow money from a bank to buy a home then they will need the asset to be insured and for many people, the insurance premium will form part of the mortgage payment.

Your home will usually be your greatest asset so you will want to adequately protect it.

home insurance

If you rent a property then you will need to get a renter’s insurance policy. The items inside your rental property can add up to a good amount of money. If you were to suffer from a theft, a fire or a disaster then you will need to have a policy that covers the cost of replacing these items.

Car Insurance

Another important insurance type that you need is car insurance and you will need to have at least basic car insurance that covers liability. If you are using a loan to buy a car with then you may need to add collision coverage to your policy. Liability insurance will cover damages to the other vehicle if you are involved in an accident and collision coverage will cover the damage to yours.

The main reason though for car insurance is its ability to replace an expensive asset. You spent money on your car and if it’s get damaged you will want to be able to repair it or replace it.

Car insurance can also cover injury or death of another person involved in an incident that you are legally responsible for. It generally pays for medical expenses that are related to the incident and can also cover legal costs.

Car insurance will also have added on coverage that you can include in your policy, but just keep in mind that the more you add to your policy then the higher the premium will be.

These are the 4 types of insurance policies that you should have and if you don’t have them, you should start looking at these and getting quotes and comparing policies, so that you are able to choose the best policy for you and your budget.

Top Ten Reasons to Get Health Insurance

You will need to look after your health as you become an adult as well as that of your family’s. You are able to protect your health through the use of a health insurance policy. Having health insurance means that you and your family will be protected in times of unexpected medical expenses and it will help you to maintain a healthy lifestyle.

Here are the top ten reasons to get health insurance.

health insurance

Don’t Pay From Your Pocket

If you don’t have health insurance and you encounter a medical issue then you will need to pay for the medical bill from your own pocket, which can eat up your savings and even lead to debt. Health insurance can ease the burden of these medical costs like a major illness, a hospital stay or prescription drugs as the costs or part of will be transferred to the insurance company.

Peace of Mind

If you do not have a health plan then you are actually gambling that you will stay healthy. You might be young and in great health now, but as the years roll on it may not always stay this way. Also, your stress levels will increase when you don’t have a health plan, which will affect your health negatively. Getting a health plan will then give you peace of mind and you will feel better knowing that you are covered if any medical expenses come up.

Medical Costs are Cut

There are many people that will not get health insurance thinking that it will save them some money and that it will be cheaper just to pay for doctor visits. However, this is a mistake as you don’t know what the future holds and what operations or medications you will need and having health insurance will protect you when unforeseen occurrences happen and you will pay less for medical costs.

Visit the Doctor More

Health insurance will usually provide regular health check-ups so many times a year, which will help to reduce the incidence of ill health. This benefit saves the insurance company money and encourages the insured to have a healthy lifestyle.

Get the Medical Treatment you Need

Medical science has developed tremendously over the years, but this science is not available to everyone due to the costs. These costs will discourage the average person from taking timely action. However, when you have health insurance, you will be able to take timely action and get the help you need as the costs are reduced.

Wait…there are more reasons listed below…

No Need for Cash

Another constraint that affects timely treatment is that you might not have the funds on hand to pay. Usually, medical treatments require cash payments immediately on treatment and if you don’t have the funds then you won’t get the treatment. If you have health insurance, there are a few ways that they can work. The first is that you will need to pay and then are able to claim the amount back from your insurance company, the doctor will send the bill straight to your health insurance company or you will need to apply for pre-authorization from the insurance company and the doctor will claim from the company.

Preferred Provider Network

With health insurance, you will have access to a preferred provider network of hospitals and doctors. This can also mean that the insurance company has agreements with these doctors and hospitals and they may offer treatments at a pre-determined price that is lower than average, which reduces the paperwork, saves you money and you will be less stressed.

Just Be Healthy

The biggest advantage to having health insurance is that you will benefit from improved health. Those that do not have health insurance are more likely to wait to see a doctor that those with health insurance. This usually leads to a condition getting worse and even long-term problems, which will cause large medical bills.

health insurance

Prevention is the Key

There is a number of preventative health services offered to those with health insurance and they are free. These include:

  • Cholesterol screening
  • Blood pressure screening
  • Nutritional advice
  • Various vaccines
  • HIV testing and others.

You should take advantage of these preventative health services so you can catch any issues early and get the treatment that you need before they become serious. You can also learn how to change your lifestyle and avoid future health problems.

Restore Your Health Management 

Many people that don’t have health insurance will find the cost of treatments and medications overwhelming. This results in poor health management as patients will take smaller medication dosages, skip testing or avoid surgery. This can be dangerous if there is a serious health issue or a minor health issue may grow into something more serious.

Health insurance has a number of health and financial benefits for the insured and it is vital nowadays to have some type of health plan in place so you can take care of your health, your family’s health and get the treatments that you need and catch any health issues early.