Health insurance alone is not sufficient.You should have a separate healthcare contingency corpus too.
When you are young medical expenses are not much rare.But once you cross 50s, the medical expenses will become regular.Most old people,there is a definite need for health insurance.Being old,without money and unhealthy is a scary scenario to think of.
But it’s not enough just having a health insurance.As people aged, its not just about hospitalisation expenses.Here, hospitalisation is a low probability event.The cost of medicines,regular consultations for lifestyle and diagnostics and chronic diseases itself can be a lot.And the utmost problem is health insurance does not cover these out-of-hospital expenses.This is a simple way of why health insurance isn’t enough for old age.In that case , Health Contingency Fund is advised.The best part of the Health Contingency fund is it can also be used in case hospitalisation bill exceeds your health insurance cover.
To build Health contingency Corpus,from now onwards start saving a sum of money every month.
So, remember you need to have a seperate healthcare contingency corpus.Health Insurance alone is not sufficient for old age.
Contact D Haribabu (call 9603241814) Insurance Agent from Hyderabad for more guidance on how to take term Insurance.