The Difference Between Life Insurance & the Health Insurance
LIFE INSURANCE VS. HEALTH INSURANCE – Have you ever doubted on the difference between these two types of insurance?
Undeniably, more and more people are considering the benefits of insurance policies nowadays. Many wanted to secure the future of their loved ones even after they are gone.
Most insurance policies that parents take are life insurance, health insurance, and educational insurance. All these are based on their pursuit to provide for their children’s needs.
When it comes to insurance policies, a lot of people may be doubting on the different between a health insurance and a life insurance. Most insurance companies offer these two(2) types which has a major difference.
Based on an article on Reliance, here is the difference between the two(2) aforementioned insurance policies offered:
Health Insurance
Under this type of insurance policy, the insured person is covered against unforeseen and unfortunate events that leads to hospitalization or medical treatments. It is a deal between the person and the insurance company.
Furthermore, under it, the company will pay for the hospitalization and medical expenses of the person provided that the situation is in line with the agreement.
Life Insurance
This type of insurance usually offers a full coverage on the insured person including hospital expenses. Based on the article, the difference is that it extends even when death comes to the person.
If death happens, the company should pay for a fixed amount to the beneficiaries of the insured person provided that the incident is not against the deal of the policy.
To highlight the major difference of the two(2), the health insurance is limited on the living years of the insured person while the life insurance extends to the family or beneficiary if the insured person passes away.
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