Health Cover - What is it, and why do I need one?

This article was posted on 03 June 2016

Posted in Health Cover

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Good health of himself and his family members is of primary importance to every individual. What would you do in case any of you need some urgent medical treatment for some illness or accident? Definitely, you will opt for the best hospital for your family. Are the treatments at the best hospitals affordable? Can you afford a costly treatment, without affecting your future financial plan? This is where Health Cover or Health Insurance, finds its importance in your financial plan.

What is Health Cover?

Health Insurance or Health Cover is an insurance plan that basically covers the treatment expenses that you incur. The benefit under Health Cover may be availed as a reimbursement, where you pay to the hospital and claim the amount from the insurer by submitting all original documents pertaining to the hospitalization or as a direct payment by the insurer to the healthcare provider. In case of direct payment, you need not even spend the money at the hospital for the treatment.

People believe that they are healthy and so they don’t need Health Cover or Health Insurance. But, remember, you being healthy doesn’t mean that you don’t need any medical treatment. Young individuals are more prone to accidents, which can result in costly medical treatments.

How can I get Health Cover?

Health Cover or Health Insurance is important to all members of your family. So it will be ideal to cover the entire family. The risk of not having a Health Insurance or Health Cover is that, you will end up paying the bills using money you could have kept aside for your retirement perhaps. Else, you might have to compromise on getting the required medical treatment, which is not a good idea.

While applying for Health Cover you have to be sure about the level of cover required. You should make sure that the cover is sufficient in covering expected and/or future health risks as well as providing cover for the rest of the family.  Depending on certain factors, such as age, medical history, level of coverage required, etc, the premium to be paid is derived and on payment of the premium, your coverage starts.

You may note the difference between Health Cover and Hospital Cover. It will be ideal to have both policies together. Health Cover is the basic policy, covering all your treatment expenses, and Hospital Cover provides a lump sum payment in the event of hospitalization. Hospital Cover can be availed, even if you have a Health Cover Insurance policy.

Most Health Cover policies cover essential treatments, but there are policies that provide special coverages which are more comprehensive. A Health Cover policy that covers essential treatment will be priced cheaper than a more comprehensive one. So a Health Cover insurance that covers essential treatments including treatment of accidents, should be a must-have insurance policy for every household in South Africa.

There are various plans and options from different insurers available under Health Cover Insurance. We at Mister Compare help you choose the right Health Cover policy from a variety of available options. We also assist you in comparing and purchasing other insurance products such as Hospital Covers, Life Insurance, Legal Covers and Funeral Cover. Remember, More Options leads to Better Decisions

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