Lack of Insurance Compounds Chronic Conditions Burden

For an individual not covered by a company or group insurance policy, private health insurance can often seem like a massive, unbearable and expensive hurdle to overcome.
The choices are numerous and confusing, and taking out a policy for yourself or your family can appear costly.

If you have a chronic medical condition, an additional stumbling block can be encountered, as your premiums may become even higher or you may face lengthy periods of no coverage for a pre-existing condition. As a result, people with chronic conditions often face the burden of high insurance premiums and having to also pay for treatments and medicines related to their long-term problems.

A chronic condition is usually defined by insurers as an illness or disease from which a person is unlikely to recover, or for which there is currently no cure. Examples of chronic illnesses include arthritis, asthma, cancer, cardiovascular disease, cholesterol problems, chronic obstructive pulmonary disease, depression, diabetes, high blood pressure, multiple sclerosis, and osteoporosis.

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Private Medical Insurance Coverage For Major Illnesses

Ask the typical person what sort of insurance coverage they have and they will usually rattle off the most common policies: automobile, life, homeowners, and accidental death.
While it is common practice to insure one's self and family against accidents and death, far too many people do not consider the importance of having personal medical insurance for major illnesses such as strokes, heart attacks, kidney problems, or even cancer.

This is a major oversight, for major illnesses may involve substantial medical expenses that continue for weeks, months, and even years. If you are uninsured against major illnesses, the financial consequences are potentially far reaching and devastating.

"The unabated rise in health care costs makes private health insurance for major illnesses essential," notes Mr. Joseph Griffin, Chairman and CEO of GlobalHealth International Group in Hong Kong. "This is because a person is now more prone to suffer long-term critical sickness than accidental death."

A long-term illness not covered by personal health insurance can be enormously draining financially for a family, often resulting in a substantial hit to personal bank accounts, investments and even retirement savings.

Continue Reading Private Medical Insurance Coverage For Major Illnesses

Lack of Insurance Compounds Chronic Conditions Burden

For an individual not covered by a company or group insurance policy, private health insurance can often seem like a massive, unbearable and expensive hurdle to overcome.
The choices are numerous and confusing, and taking out a policy for yourself or your family can appear costly. If you have a chronic medical condition, an additional stumbling block can be encountered, as your premiums may become even higher or you may face lengthy periods of no coverage for a pre-existing condition.

As a result, people with chronic conditions often face the burden of high insurance premiums and having to also pay for treatments and medicines related to their long-term problems.

A chronic condition is usually defined by insurers as an illness or disease from which a person is unlikely to recover, or for which there is currently no cure. Examples of chronic illnesses include arthritis, asthma, cancer, cardiovascular disease, cholesterol problems, chronic obstructive pulmonary disease, depression, diabetes, high blood pressure, multiple sclerosis, and osteoporosis.

Continue Reading Lack of Insurance Compounds Chronic Conditions Burden

Learn more about Personal Health Insurance