Introduction
Everyone wants security and safety of their lives nowadays and to ensure this assurance and security to some degree people approach insurance companies and get their health insurances which help them for both long and short terms. Insurance further categorizes itself into two categories: short term and long term. Long term insurance plans are those which offer money if something terrible happens to the person that is insured. On the other hand, short term health insurances are made for exceptional situations that fall outside of long term. These insurances can cover a range of situations such as health, life, property, and auto. Short term health insurance is also used in case their is a gap in congregation insurance. This usually happens when people vary jobs and lose their coverage for a while.
History
If you sign up for short term health insurance, you are basically sheltered from expenses that are health related . It is now the company that you purchased the insurance from that will provide the resources needed in such an event. As payment for having that risk, the company charges a monthly fee from you. This is known as the "premium", and the amount of premium varies depending on how much of your property is covered by the insurance. This premium is determined based on the level of risk that is associated with the type of insurance you are getting for yourself.
Features
If you were a victim of an accident , or you got ill naturally or you just needed a routine check up , the insurance company will pay the sum of losses that you incurred since you are covered by the short term insurance. This payment could be in the form of cash, but some insurance companies expressly replace your lost assets. However, there is something called "excess" that needs payment when a claim is made. This is basically the amount of money that you agreed to supply on the overall value of the claim you made. For example, the excess is 1000 dollars, and you make a claim that cost around 5000 dollars. 1000 dollars of that cost will be paid by you, and the company shoulders the remaining 4000. Excess can either be voluntary or obligatory. If you choose to disburse voluntary excess, the insurance company drops the amount that you have to pay for premium.
Tips and comments
Short term health insurances have specific conditions. In order to make a valid claim, these requirements have to be met. For example, the policy of your short term health insurance is that only genetic health illness cases will be covered. Then if you have been harmed through external means such as getting mugged or you fall off a ladder, the insurance company will not pay for the damage incurred since it is not genetic illness related. It is your job to carefully read about the policy requirements as well as the possible exceptions.Whatever situation you are in it is always better to be protected through short term health insurance even if it is only momentary.
