General insurance What's the difference between health and life insurance?

[sincerem]

Since the two comes with almost same benefits, cos they are pertaining to life. When you aren't fit enough life becomes worthless. So health is pivotal to the life we are living.

That has made me to think what's the big difference between health insurance premium policy and life insurance policy? Since both of them are simply alike.

When it comes to health insurance premium benefits, the insured gets his or her benefits in bounty when health issues that is injurious to life occurs. The insured can encounter health issues through natural disasters like accident, diseases like covid19 pandemic, bodily injuries etc. If it is not well taking care of, it leads to untimely death of the insured.

Same goes to life insurance policy, when we opt for it, we are given our life security when unbeknownst occurs which can lead to untimely death of the insured too.

What's the big difference of life insurance policy and health insurance premium policy?

 

[btaliat]

The mission of the two insurance policies may be the same but they are not the same. I said the mission is the same because they are both trying to save life and afterwards. But while health insurance tends to prevent death from happening, life caters for life after death.

 

[Phabbyfundz]

Insurance is a means of indemnity against a future occurrence or an uncertain event. Life insurance and health insurance are all types or forms of insurance but the two in terms of functions or roles. For health insurance it helps you cover for hospital bilks or charges in time when the said client is sick or has a medical challenge that requires the hospital . life insurance covers in time of death or demise.

 

[sincerem]

The mission of the two insurance policies may be the same but they are not the same. I said the mission is the same because they are both trying to save life and afterwards. But while health insurance tends to prevent death from happening, life caters for life after death.

Your points are well stated dear. But do you know some life insurance term can be achieved even while you're still alive? Like 'term life insurance policy, where you'll seek for some certain duration of time, then earn it's benefits after the expiration of the contract. Health and life insurance policies are there to save lives.

 

[Chibson]

Some people think that life insurance is making sure that you didn't die but that is definitely not the case. Life insurance is simply ensuring all your property as an individual another for your family members to inherit it when you are no more. Health insurance is all about your health expenses.

 

[sincerem]

Some people think that life insurance is making sure that you didn't die but that is definitely not the case. Life insurance is simply ensuring all your property as an individual another for your family members to inherit it when you are no more. Health insurance is all about your health expenses.

Life insurance premium policy benefits doesn't come only when the person is dead. Their are different options of life insurance which can be either long term or short term. If we go for the 'term life insurance policy then it is believed the contract will last for some number of years and if the insured stay till then he or she will get the full benefits.

 

[Wisdom01]

I think health insurance policy could cover your current health challenges that is ongoing ,so you could extra benefit by daily check up to a ascertain your health rating , while the life insurance policy could be short term basis and it's coverage that exist and have a stipulated time for the owner to get his benefit and it could be when he dies

 

[sincerem]

I think health insurance policy could cover your current health challenges that is ongoing ,so you could extra benefit by daily check up to a ascertain your health rating , while the life insurance policy could be short term basis and it's coverage that exist and have a stipulated time for the owner to get his benefit and it could be when he dies

When it comes to health insurance their are terms that guided it. It doesn't mean as we are insured we can continually seek medical attention, seeking for everyday check ups. That doesn't happen even the rich doesn't do that. At least periodically maybe once in a month. But always know before you earn any benefits with the insurance it must be agreed.

 

[Wisdom01]

When it comes to health insurance their are terms that guided it. It doesn't mean as we are insured we can continually seek medical attention, seeking for everyday check ups. That doesn't happen even the rich doesn't do that. At least periodically maybe once in a month. But always know before you earn any benefits with the insurance it must be agreed.

You are right on this , I probably made a mistake and did not specify it very well , because the daily check up would require more money from the insurance company , s they might just do it at a certainly time periodically , to Know that actual health rating of the client through the process

 

[Mandy96]

There are some certain differences between the health and life insurance but a lot of people do not know about this. Although these two has some similarities but this doesn’t make it the same plan because they are definitely two different policies. If you happen to purchase or want to, you have to be careful of mix up

 

[Wisdom01]

There are some certain differences between the health and life insurance but a lot of people do not know about this. Although these two has some similarities but this doesn’t make it the same plan because they are definitely two different policies. If you happen to purchase or want to, you have to be careful of mix up

Yeah they have both similarities and differences , I think the health insurance are likely to cover any risk that is relating to one health and they offer free check up , but it seems life insurance company offers a certain benefit to the insurer at a stipulated period of time after paying the necessary premium

 

[sincerem]

You are right on this , I probably made a mistake and did not specify it very well , because the daily check up would require more money from the insurance company , s they might just do it at a certainly time periodically , to Know that actual health rating of the client through the process

Yeah, me and you know it will be draining for an insurance company to cater for the ill customer like sickle cell carrier. Sickle cell is simply a deadly disease that always take away much finance from the victimized. And insurance will always high the premium charges so high in order to meet up with the pressing demand not the insured but not facing daily check up requirements.

 

[btaliat]

Your points are well stated dear. But do you know some life insurance term can be achieved even while you're still alive? Like 'term life insurance policy, where you'll seek for some certain duration of time, then earn it's benefits after the expiration of the contract. Health and life insurance policies are there to save lives.

Thanks for the information. I know life term insurance which caters for the purchaser while alive. That one is like saving. But looking critically at the two insurances policies, jrksjt is more concern about saving life by treating people of various sickness or aliments while life is either acting like saving or cater for life after death.

 

[Alexandoy]

The health insurance here covers the expenses for the hospitalization and fees for the doctor. I don't think the medication is covered much more when the patient dies. Death is covered only by life insurance. Maybe there is a hybrid policy that combines health and life insurance but that would be a special case here.

 

[Wisdom01]

The health insurance here covers the expenses for the hospitalization and fees for the doctor. I don't think the medication is covered much more when the patient dies. Death is covered only by life insurance. Maybe there is a hybrid policy that combines health and life insurance but that would be a special case here.

Yeah health insurance covers when the person is still alive and his or her current medical bills , because it would be very important for such to be covered since the person is paying his or her premium both on a daily basis or on a weekly one , at anytime he wishes to pay

 

[btaliat]

The health insurance here covers the expenses for the hospitalization and fees for the doctor. I don't think the medication is covered much more when the patient dies. Death is covered only by life insurance. Maybe there is a hybrid policy that combines health and life insurance but that would be a special case here.

You have really pinpointed the main fact. People may think the two insurance policies are the same but merely analyzing what they do will really show that they are not in any way the same. While one covers all the expenses related to health issues, one covers expenses after death except term life insurance which still rewards while alive.

 

[dollarAngel]

Health insurance is a system of financing medical expenses by means of contributions that cover hospitalizations and medicines and other medical bills that arise due to an illness. Whereas, Life insurance is a contract between you and an insurance company in exchange for a premium and in return guarantees payment to an insured's beneficiaries when the insured dies.

 

[Mika]

Health insurance covers your health issues only. For example, you tested positive for Covid and you end up in the hospital for a week. If you have health insurance, your hospital bills as well as other medical bills will be covered by your health insurance. Life insurance on the other hand covers major health issues, cancer for example, (provided it is clearly written on the terms), accidents, loss of body parts due to accidents, etc.

 

[sincerem]

Health insurance covers your health issues only. For example, you tested positive for Covid and you end up in the hospital for a week. If you have health insurance, your hospital bills as well as other medical bills will be covered by your health insurance. Life insurance on the other hand covers major health issues, cancer for example, (provided it is clearly written on the terms), accidents, loss of body parts due to accidents, etc.

Is quite interrelating between health and life insurance. Because 'cancer is a health deficiency, which leads to untimely death if not discovered on time and offer the best treatment. So, it is a health related issues and also a life threatening disease. I prefer the two, because they cater for emergency issues relating to life and well-being, especially during this period of covid19 pandemic. Anyone who is protected under this two premium plan will be covered by the insurance company they insured with. But that does not mean an individual should be exposed to dangers in order to reap from the benefits around life and health insurance.

 

[Nite]

Health insurance covers all the medical expenses related to our treatment, whereas Life insurance financially safeguards our family in case of an untimely death. Life insurance can help our loved ones maintain their life goals even when we are not around. Health Insurance helps to ensure we can afford our medical bills and stay healthy. Both the Health Insurance and Life insurance are different elements of our financial portfolio, that covers different types of financial risks