Insurance protects you against an unfortunate incident my society essay, such as a car accident, or a major illness which might require you to be hospitalized for several months and in some cases require you to be operated on. Both the cost of surgery and hospitalization are very expensive and more often than not more taxing than the illness itself. All of us abhor insuran A medical insurance policy is an agreement between an insurance company and an individual which is renewable annually. The premium amount is directly proportional to the insurance amount the client would like to be insured for. Image Source: cohealthop.org Generally for an insurance cover of five lakhs one has to a pay a premium around five to six thousand. Imagine you have paid this premium for ten years and then in the eleventh year, something untoward happens. Despite having paid only fifty to sixty thousand in all you will be eligible to avail of services worth five lakhs. With inflation at an all time high the prices of medical services have also escalated and these will continue to rise.
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