Pros and Cons of Individual Health Insurance

Pros and Cons of Individual Health Insurance

http://insureme.us/pros-cons-individual-health-insurance/

PROS:

• The insurance plans may be tailor-made to fit the client. The client can choose the benefits included in the plans, such as childbirth and well-baby, consultation fees, accidents, critical illnesses and others. Clients can choose benefits that they think they would most likely need in the future.
• Individual health insurance is the cheapest insurance plan that one who is relatively healthy can avail of. If the client has not had any major condition, he or she will find it easy to acquire a cheap insurance plan with efficient coverage.
• Individual health insurance is much cheaper than group health insurance for a family who is looking for insurance coverage.
• Quotes for individual health insurance plans are easy to get as long as you know your medical history.
• Individual insurance plans have low rates because insurers accept only healthy people.

CONS:

• Insurance companies have the right to deny a person’s application based on his or her medical history or state and physical condition. Because of this, it is difficult for someone who already has had major medical condition to apply for an individual health insurance plan.
• High risk clients, such as those with hazardous occupations or have already experienced previous medical conditions, have a slimmer chance of getting individual health insurance because they are more likely to get diseases or get into accidents.
• High risk clients may be able to find insurance plans that could cover them but they would most likely be expensive.