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Differences between Health and Life Insurance, Which is More Important? | Good Doctor

Please note that health and life insurance are two different products. However, both of them function as self-protection from various risks. To be clearer, see the difference between health and life insurance below, come on.

The difference between Health and Life Insurance

health and life insurance

Definition of health insurance

Health insurance is an insurance product that guarantees costs when the policyholder experiences a disruption such as illness or accident.

The intended policyholder is the person who decides to provide life coverage to the insurer or insurance premium payer. Simply put, the policyholder is you who buys certain insurance products.

This health insurance generally also covers a number of things when you are sick such as hospital costs which include hospitalization, medicine, doctors, and actions. In addition, it also bears operating costs based on the conditions stated in the policy.

This health insurance will make your life calmer when experiencing unexpected things when you are sick so you can focus more on healing, without having to worry that your finances will be disrupted due to higher health costs. Here are also some things to know about health insurance:

  • Health insurance has many types that can be adjusted to your needs.
  • Health insurance generally offers a claims system cashless by card. So, you don’t need to bother setting up medical funds when you need health services quickly.
  • Health insurance allows you to do treatment, privately, more comfortably and quickly without queuing. Even this also applies to health facilities abroad.
  • Health insurance provides services such as outpatient care, inpatient care, surgical care, and maternity care benefits.
  • The amount of health insurance premiums will usually depend on age, health condition, and coverage of protection benefits. Therefore, the most appropriate time to have health insurance is when you are still young and healthy.

Definition of life insurance

Meanwhile, life insurance bears financial losses if the customer is declared dead. The amount of coverage given by the insurer to the heirs of the customer will usually depend on the amount of premium paid.

Actually this life insurance is not just about someone’s death, but how the family left behind can continue their life, after the breadwinner dies. For example, if a father who is the breadwinner for the family dies, this will stop the family’s financial resources.

However, if there is life insurance, this impact can be minimized because insurance can disburse the Sum Assured (UP). Where the insurance left by the breadwinner can be a financial provision for the family left behind to continue their life. Here are some important things about life insurance that you need to know:

  • There are many types of life insurance such as term insurance (termlife), whole life insurance (whole life), to endowment life insurance (endowment insurance)
  • This sum insured (UP) can be adjusted based on needs and the sum insured (UP) will be a provision for the heirs if the insured is declared dead.
  • Life insurance can also be accompanied by some additional protection such as health or investment features.
  • If you do not include additional insurance such as health protection, then the benefits of life insurance cannot be felt directly by the insured while still alive.

So, which is more important between health and life insurance?

After seeing the explanation above, it can be seen that health and life insurance are equally important to have. But if you have to choose first between health and life insurance, it’s a good idea to prioritize health insurance.

Especially for those of you who don’t have adequate health insurance at work. So, by completing your protection needs, you can more easily maintain personal financial stability if you experience unexpected things and require large expenses in the future.

Therefore, now is the right time to get insured while you are still young and healthy, okay!

Also read: Is it Important or Not to Have Mental Health Insurance? Check out the answer here Come on!

Do you already have health insurance from the company you work for? Come on, take advantage of the service by connecting your insurance benefits to the Good Doctor application! Click on this link.

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