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    Health insurance is a contract between an individual and an insurance company that helps cover the cost of medical expenses. By paying a monthly premium, individuals gain access to benefits and services to stay healthy and manage healthcare costs. The document provides two case studies of individuals who purchased life insurance policies, outlining details like sum assured, premium amounts, policy duration, total premiums paid, and payout amounts. It also lists key advantages like financial protection and access to healthcare, and disadvantages such as high cost and limited coverage of health insurance.

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    Health insurance is a contract between an individual and an insurance company that helps cover the cost of medical expenses. By paying a monthly premium, individuals gain access to benefits and services to stay healthy and manage healthcare costs. The document provides two case studies of individuals who purchased life insurance policies, outlining details like sum assured, premium amounts, policy duration, total premiums paid, and payout amounts. It also lists key advantages like financial protection and access to healthcare, and disadvantages such as high cost and limited coverage of health insurance.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    9 views6 pages

    That's It?

    Uploaded by

    hero
    Health insurance is a contract between an individual and an insurance company that helps cover the cost of medical expenses. By paying a monthly premium, individuals gain access to benefits and services to stay healthy and manage healthcare costs. The document provides two case studies of individuals who purchased life insurance policies, outlining details like sum assured, premium amounts, policy duration, total premiums paid, and payout amounts. It also lists key advantages like financial protection and access to healthcare, and disadvantages such as high cost and limited coverage of health insurance.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 6

    Health Insurance

    Definition
    • Health insurance is a contract between you and
    an insurance company that helps cover the cost
    of medical expenses.
    • By paying a monthly premium, you gain access to a
    range of benefits and services that can help you stay
    healthy and manage the cost of healthcare.
    Case study
     Name :Priyanka
     Sum assured :1,00000
     Premium :Yearly
     Yearly amount :3770
     Document started :In the year 2003
     Type of insurance :Life Insurance
     Document end :In the year 2025
     Total premium :22 years
     Total amount paying with in 22 years is : 82,940
     Gained amount is : 17,000
    Case study
     Name:Hyma
     Sum assured:4,00000
     Premium:Yearly
     Yearly amount:10,000
     Document started:In the year 2005
     Type of Insurance:Life Insurance
     Document started:In the year 2030
     Total premium:35 years
     Total amount paying with in 35 years:3,50,000
     Gained ammount:50,000
    Advantages and Disadvantages Of Life Insurances

    Advantages Disadvantages
    1. Financial protection from 1. Expensive
    unexpected medical expenses
    2. Limited coverage
    2. Access to quality healthcare
    services 3. Complex
    3. Peace of mind knowing that you
    and your family are covered

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