Dog Life Insurance vs Health Insurance
Dog Life Insurance
When a person suddenly becomes ill or is a victim of an accident, then often a lot of expenses are incurred for the treatment. To avoid this, people keep many covers like health and life insurance. So that you do not have to face financial problems in difficult times. In the same way we can secure our pet as well. So that we do not have to look back in difficult times.
You must have heard about insurance for domesticated cattle and dairy animals. In the same way, you can take insurance for your pet as well. People spend up to 1000$ annually on their pet dogs. If animals of many expensive breeds are lost, then it is a big financial blow along with emotional grief.
Apart from this, you can also cover the expenses of surgery or medical treatment of the animal through Pet insurance. Pet insurance is already a big industry in foreign countries. But due to the increasing interest of people towards pets, taking pet insurance becomes an important topic in India as well.
Companies such as Healthy Paws, ASPCA, Embrace, Lemonade, Figo and National Insurance provide cattle insurance but here you get only death benefit. But some private companies like Trupanion, Pets Best give you cover not only in case of death but also in case of illness and loss.
This cover plan depends on the breed, age and gender (male-female) of the dog. For a dog from 8 weeks to 2 years, you can get a normal cover for 700$ to 1500$ annually.
Due to comfortable lifestyle and increasing pollution, all kinds of health problems have increased in humans. Such serious diseases are coming to the fore, treatment of which is beyond the capacity of a person earning a normal income. If suddenly in the grip of some major disease, then a big economic crisis arises.
In this case health insurance comes in handy. It is helpful in meeting the one-time expenses for your treatment, if the need arises. In this article, we will know what is health insurance? Why is it necessary? What are the benefits?
Health insurance is an insurance policy that pays for the medical expenses incurred by the insured or his family members if they fall ill. These expenses include everything from hospitalisation, consultation fees of doctors, cost of tests and medicines and cost of nursing and care, etc.
How is the payment for treatment decided? In case of health insurance, after the treatment, the amount of his payment can be negotiated by the insurance company, hospital and doctors. It can be paid in two ways-
Either you pay the cost of the treatment yourself first and the insurance company reimburses you later when you pay the bill.
Or the insurance company directly pays the bill for your treatment to the hospital.
Types of Health Insurance Policy
Health insurance plans are of various types depending on the features and accessibility included in them. Here we are introducing the main types prevalent in India-
1. Plans that pay for medical expenses
In Hospitalization plans, out of the expenses incurred on the treatment of the insured person, only a pre-decided amount is paid by the insurance company. Because of this specialty, such insurance plans are called indemnity plans (compensation/compensation or compensation plan). It is beneficial in the treatment of any kind of disease or health problem.
In the case of certain life-threatening diseases, the benefit of the health insurance policy is available only once. But most diseases can be treated multiple times. Can avail benefits up to the limit of the insurance policy.
2. Plan for treatment of serious diseases
In these, you are given a lump sum amount on the identification of some pre-determined serious diseases and for the procedures related to their treatment. Diseases that are very fatal, such as heart attack, cancer, paralysis, etc. Their treatment is very expensive.
Which diseases are to be included in your health insurance policy is decided at the very beginning. According to the severity of the disease and its frequency, your policy is made and its premium is fixed. In this way, these are benefit-based health insurance plans.
3. Plan according to individual or family
You can take a bundled family health insurance policy for the entire family. Under the fixed insurance coverage will help in the treatment of any member of the family. Its premium is cheaper. Or you can also take individual health policy for one member of the family, or for different members.
For example – there are 5 members in a family and the insurance benefit of 1000$ has been decided separately for each person. In such a situation, no one member of the family can get more than 1500 $ for himself. It will work like a separate policy for all the three persons. But if this $4500 plan is taken as a family health plan, then any member can get help up to $4500. However, keep in mind that all members together cannot receive more than $1500 in help.
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