5 Reasons Health Insurance Isn’t Like Anything Else

This is the time of year when Health Insurance comes into focus for a lot of people. Open enrollment periods have just closed for many of us so it seems like a good time to write a little bit about health insurance. Actually, insurance is really not an accurate way to refer to the medical coverage that we are required to buy. Yes, we call it insurance, but what we have today is not like other insurance policies.

Insureds do not have to show insurability. The last time that I shopped health insurance, the only questions that I was asked were about the ages of everyone in my family and whether they were smokers. That’s it. I didn’t even have to answer questions about health issues that we’ve been seen about. We didn’t have to answer questions about our lifestyle that might impact our health, like whether I get enough exercise (which I don’t) or whether I skydive (which I don’t, at least not right now).

Health has two aspects, prevention, and treatment. While is it always recommended to adopt preventive measures to wade off diseases or perhaps reduce its onset, there are time wherein despite best effort individuals can take ill. Thanks to progression in medical science, treatment has become quite advanced and today we have a cure for the most serious illnesses. However, the cost of treatment is very high and owing to this, several families reach the abyss of financial breakdown and strive to find the best treatment facility for loved ones.

All this leads to immense economic burden across sectors and fraction of the society. This is why health insurance policies are becoming an inherent need of time. Irrespective of one’s age and financial disposition, health insurance is important.

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Allied World Launches Professional Liability Policy for Healthcare Consultants

Allied World Assurance Co. Holdings has launched a professional liability policy, offering coverage specifically designed to address the risks of healthcare consultants and companies that provide consulting services to healthcare facilities. This comprehensive protection includes contingent bodily injury coverage specific to the exposures and needs of this diverse group. The policy allows for a customized definition of professional services based on the specific activities performed, said Allied World, which is a subsidiary of Fairfax Financial Holdings Ltd.