Which is better a life insurance or a health insurance?

argel241

New member
I am planning to get myself an insurance, but I am torn between life and health insurance.I know both almost have the same benefits but I need to pick only one.Can you help me decide to choose between the two by sharing your thoughts and opinion.It could be a big help for me.Thanks.
 

sweetpot81

New member
They are both important and different. LIFE INSURANCE is a protection against financial loss that would result from the premature death of an insured. The beneficiary recieves the proceeds and thereby safeguarded from the financial impact of the death of the insured. It's major goal is to provide a measure of financial security for your family after you die.

HEALTH INSURANCE is pertaining to insurance coverage that pays for medical and surgical expenses incurred by the insurred. In this way the insured can reimbursed the expenses from injury or illness, or pay the care provider directly. There are types of premiums they can offer that you choose which one you can afford to have depending on your budget just make sure that the company is licensed and the agent as well.
 
G

Guest

Guest
There are lots of insurance companies these days that fails to meet what they promised to their clients. Active today and gone tomorrow. Though these insurances as we see, is of great help to the insured as well as to his/her beneficiary, we cannot deny the probability of its failure. I'd rather go for Philhealth and SSS.
 
G

Guest

Guest
Hi Argel1241.
I used to work in a health insurance company and I would say both life and health insurances are important. Traditionally, life insurance requires a very cheap premium every month or year depending on the mode payment. Most of them comes with a package of having accident insurance at the same time. Now, we do also have this health insurance but this comes in a package that includes not just hospitalization benefits, but also life, accident, disability and even return of investment after a certain period of time also known as maturity date. This is the modern day health insurance where you can benefit hospitalization during payment period and guaranteed return amount of money which is more that what you have paid.
This is a bit pricey but I must say it's all worth it.
 

joey_2tep

New member
Hi Argel1241.
I used to work in a health insurance company and I would say both life and health insurances are important. Traditionally, life insurance requires a very cheap premium every month or year depending on the mode payment. Most of them comes with a package of having accident insurance at the same time. Now, we do also have this health insurance but this comes in a package that includes not just hospitalization benefits, but also life, accident, disability and even return of investment after a certain period of time also known as maturity date. This is the modern day health insurance where you can benefit hospitalization during payment period and guaranteed return amount of money which is more that what you have paid.
This is a bit pricey but I must say it's all worth it.
 

argel241

New member
That is a good package!almost everything is included and it is not surprising if it is too pricey.Do you think all insurance company has that package or it was just in your company?Thanks for your information anyway.
 

m_cel

New member
I am planning to get myself an insurance, but I am torn between life and health insurance.I know both almost have the same benefits but I need to pick only one.Can you help me decide to choose between the two by sharing your thoughts and opinion.It could be a big help for me.Thanks.

Sir, I think life insurance is much better than health insurance. Life insurance almost covered everything like health benefits, death benefits, educational, medium to long term savings, retirements and with investments. If you're interested I could find someone to help you to explain further about life insurance with investments. Life insurance with investments is very beneficial nowadays because we could not predict what would happen so we must invest our money wisely.
 

jhon paul

Member
Hi argel 1241.I have read your post. so here the both the insurances are different.Mainly life insurance is a contract between insurer and the in surer guarantees payment of a death benefit to the named beneficiaries upon the death.In this the sum assured death benefit will be paid to the assured person.Additional benefits like maturity benefits ,surrender benefit loyalty can be added.Comparing the health insurance will helps to pay for medical expenses such as doctor costs,hospital stays etc.. This helps ensure that people can afford their medical expenses and stay healthy.Covers the treatment cost for illnesses/ medical conditions subject to a maximum coverage.so you choose the insurance according to your situation. can
 

Alexandoy

VIP Contributor
In my case I would go for health insurance because it is a necessity for seniors particularly for retired persons like me. Fortunately I don’t have health issues but my age is already in the bracket of those needing regular checkup and probably maintenance medications. With life insurance the family would have something when the insured dies so I guess it is also okay to have.
 

Wisdom01

Valued Contributor
I will advise you to go for an health insurance policy , because of the free check up you would be getting to know your health status ,while the life insurance policy is more of recieving the benefit attached at a specified period of time ,so I will surely go for health
 

Mandy96

Valued Contributor
They both seem so important but if I have to choose between the two I think I will have to go for the health insurance because it covers so much in terms of functions compared to life insurance. For example, you can secure your life by insuring your health but it doesn’t go the same way the other way round
 
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