What is Health Insurance ?
Health insurance is a protection against medical costs. A health insurance policy is a contract between an insurer and an individual or group, in which the insurer agrees to provide specified health insurance at an agreed-upon price (the premium). Depending on the type of insurance policy, the premium may be payable either in a lump sum or in installments.
Health insurance usually provides either direct payment or reimbursement for expenses associated with illnesses and injuries. If company or employer does not offer a health insurance plan, one may wish to purchase health insurance on his/her own.
Health insurance includes both medical expense insurance and disability income insurance. Medical expense insurance typically pays only the actual medical costs. Disability income insurance provides payments to make up for some of the income of a person who cannot work as a result of injury or illness.