General insurance Similarities between life and health insurance

[Phabbyfundz]

Insurance is a firm indemnity of uncertain events of a future occurrence. The importance and benefits of insurance cannot be overemphasized. Insurance gives you suitable foundation to build on in times of unfortunate or disastrous event that led to loss. In time memorial there has been in existence does who are actively involved in the insurance of people are under a kind of act or contract they would be an agreement binding this individuals with the organization or person actively involved in insurance
This then came to be known as insurance companies. Insurance companies provides the insurance policy an intending clients would purchase, this kind of policy included house insurance, fire insurance, life insurance and health insurance, this are among the numerous insurance policy provided by insurance companies.
Life and health insurance are different types of insurance policy with similar properties and benefits alike.

 

[Chibson]

I think sometimes people misunderstand the meaning of life insurance. Life insurance helps the insured to secure the future of his or her children when he is no longer alive or if anything happens. health insurance on the other hand caters for an individual's health issues or health problems as the case may be.

 

[btaliat]

Health insurance is useful if one is prone to a particular illness or generally it is an insurance policy to be adopted when one's health is on the edge. While life insurance is of two types, one is from after life benefits where the insured person can be taken care of after death

 

[Mandy96]

I have always thought there are similarities between this two insurance policies. Because both are directly providing coverage human life. Especially the health insurance. If you buy any of these plans. You can always be rest assured that you have an umbrella guide assurance over your day to day lifetime as long as you keep paying your premium

 

[btaliat]

I have always thought there are similarities between this two insurance policies. Because both are directly providing coverage human life. Especially the health insurance. If you buy any of these plans. You can always be rest assured that you have an umbrella guide assurance over your day to day lifetime as long as you keep paying your premium

There is huge difference between the two policies. While the health insurance is trying to prevent sickness or take care of sickness, life insurance on the other hand is tying to take care of the dead and the families if it is whole life insurance but if it is term life, the insured person can still get all his due before he dies.

 

[Nite]

Both life insurance and health insurance are two sides of a coin. Where life insurance has been helpful for your family in reducing their financial burden right after your untimely demise. Health insurance caters the expenses incurred towards your health related treatments. Both provides coverage for different types of financial risks and has their own benefits.

 

[Wisdom01]

I think they are actually different and I don't think they too many difference attached , because in health insurance policy you still get benefit like current medical check up on your health rating and I don't think such is applicable on life insurance , because the person would get the benefit after he or she dies

 

[btaliat]

I think they are actually different and I don't think they too many difference attached , because in health insurance policy you still get benefit like current medical check up on your health rating and I don't think such is applicable on life insurance , because the person would get the benefit after he or she dies

That's a nice comment but I just want to hop in something on your comment. In life insurance, there is nothing that concerns the insurance company about the health of the insured persons. They don't treat the health of the insured person. They only save his premium for some specific time or if is while life term, after his death.