Human life holds immeasurable value. Around this simple human life, there are perils that can cause harm to a great extent. If the harm is caused to the earning member of the family, a serious financial crisis can burden the family. Insurance is one such tool to transfer those risks and live a stress-free life. Health insurance plans can be reviewed and compared to understand the degree of coverage it provides.
There are three broad categories of health insurance plans:
Term Insurance Plans: These plans provide coverage for a specific time period. A claim can be made only at the occurrence of the accident or illness mentioned in the policy. The policy gets void and the buyer gets nothing in return at the end of the period if no claim is made during the policy period.
Endowment Insurance Plans: Endowment Plans work similarly to term insurance plans but …Continue reading