Invest in your health: Health insurance

There are many financial institutions in the financial sector, of which insurance is one of the key institutions in the finance world. Insurance can be defined basically as a risk coverage for an unforeseen contingency.  We all are exposed to risk on a daily basis, which we have little or no control over: A drunk driver ran his car at you, or a learner who had not perfected the act of driving broke down your fence. There are so many reasons why we should get insurance coverage.
Insurance is divided into two: The General and Life Insurance. The general insurance deals with risk coverage over properties like: Houses, Cars, Organisations, Laptops, and other valuable items or properties. Life insurance, as the name implies has to do with Lives, with policies like: Annuities, health insurance, whole life assurance, term assurance. The word insurance and assurance are used interchangeably when dealing with Life.
Health insurance is a vital insurance coverage that is always recommended to individuals and families at large.
Health insurance is a service you pay for but hope you will never need. It's there for the unpredictable, unexpected and uncontrollable problems that comes up in people's lives. Health insurance or assurance takes care of the bills of the insured whenever there is a need for medical attention.
Insurance thrive in numerical advantage in a cohort, meaning the larger the cohort, the better it is for the insurer to deliver on his promises.
In Nigeria, many organisations have the health insurance coverage for their employees and some of their staff’s family members. Aside the monthly 7.5% being deducted from the salaries of staff for their pension scheme, certain amount are being deducted, as premiums to carter for health insurance. Most private organisations have contracts with private health care providers while the Government own companies deals with NHIS (National Health Insurance Scheme).
There are several categorise and levels of the policy you are going into. The level at your organisation determines the kind of HMO (Health Management Organisation) benefits you will enjoy and the coverages.
The importance of health insurance covers those unpredictable moments in life. A typical health insurance plan provides four primary functions: provision for routine care, chronic condition treatment, emergency medical assistance and pharmaceutical care.
Investing in health insurance means investing in your quality of life. Having insurance can pay for preventive treatment to treating illnesses.
Preventive care helps and it may prolong the need for insurance but there is nothing better than knowing you are fully protected.
Buy health insurance when you don't want it, because you may not get it when you need it.