Medical Insurance Is a Waste of Money, Right?

Written By: Graham McKenzie on November 18, 2009 No Comment

Medical insurance is not designed to be taken for granted. Have you ever heard that wine tastes better with age? Not the case with medical insurance, as it fits the description more of a “you snooze or you lose” type of expression.

The moving factor also ties into traveling. A lot of people remember to pack their shirts and underwear, but few people forget to bring their medical insurance. This becomes important in several instances.

For example, what happens when you are in a foreign country and you come down with a terrible illness? What if it’s the exotic food you ate or the water, which may have not been the cleanest you ever drank? Your imagination runs wild, so here you are, sick as a dog and unprotected from foreign medical costs.

And of course you need to invest in your long-term future which means medical coverage via an insurance provider. A lot of people who are young take their good fortunes for granted and feel they are invisible. They think they cannot get sick or diagnosed with anything major until they are well in their 60′s or 70′s.

They’re wrong! While it is more common to receive bad health the older you get, unfortunate scenarios do spike up at any moment. Even if you do stay in great health until your 60′s, when you go to apply for medical insurance in preparation you are in for a long road of insanely high premiums. It pays to jump the gun in this situation.

A good policy should guarantee full or partial coverage on medical bills, operations, and medication. Do not take these three types of medical coverage for granted, as they add up very quick!

The greatest thing in the world is to pay for a sturdy medical insurance plan your whole life and never need a single dollar of it. Some may argue with that, because they feel it’s a waste of money. But is it? What if your health struggled in your later years and the only way you could afford the medication only because of your insurance? Everyone’s wish is to stay healthy and die a reasonably painless death. Medical insurance cannot grant that wish but it can grant the wish of satisfaction that you will be protected in the event or a tragedy.

The importance of having comprehensive medical insurance both in the short-term as well as the long-term cannot be emphasized enough. If you start early enough, the premiums will be manageable instead of waiting until your health is going south and the insurance provider is charging outrageous premiums.

Graham McKenzie is the content Syndication Manager at insurance123.co.zaSouth Africa’s leading Medical Insurance information portal.