Health insurance, medical insurance life insurance, term ins

Key Points About Health Insurance

• Purpose: Protects you from high medical costs and ensures access to necessary care.
• Premiums: The monthly/annual fee you pay to keep the coverage active.
• Deductibles: The amount you must pay out-of-pocket before insurance starts covering costs.
• Co-payments & Co-insurance: Your share of medical costs after meeting the deductible.

Coverage Types:

• Individual/Family Plans – bought personally.
• Employer-Sponsored Plans – offered by employers, often more affordable.
• Government Programs – e.g., Medicare, Medicaid, or OHIP in Ontario, Canada.

Why It’s Important

• Reduces financial risk in case of unexpected illness or injury.
• Provides access to preventive care (check-ups, vaccines, screenings).
• Encourages timely treatment instead of delaying care due to costs.

medical insurance, life insurance, term insurance or more.