What is Health Insurance? Health insurance offers financial protection to meet the expenses incurred due to hospitalization or treatment of some disease. It is an understanding signed between the insurance company and the policyholder. The company or the insurer agrees to provide the sum insured or the coverage amount to the policyholder (the insured) for meeting the medical expenses. To get this benefit, the insured has to pay a certain amount of money in the form of premium. However, not all kinds of situations and cases are covered by health insurance. These are called exclusions. Let us understand health insurance in detail. What is Health Insurance Premium? To get the financial protection under a health insurance plan, you need to annually pay certain amount of money in the form of premium. This can be called the cost of the insurance. Premium is an important aspect to be considered before finalizing a plan. Always use the premium calculator...
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