Wondering why health insurance not free for all? Some readers of InvestmentTotal, are asking some “issue” of health insurance. He is asking me why it is not free for everyone. I have the conclusion why, I will going to write the detail here. In my previous topic I mentioned the meaning of insurance defined by the experts and I get some resource such as dictionary.
“Insurance is the practice by which an individual secures financial compensation for a specified loss of damage resulting from risk of any sort, by contract with a company to which he pays regular premiums, the profession of drawing up some contracts, the contract drawn up, the protection afforded by this, the premium demanded for such protection, the sum for which something is insured”.See Also: Meaning of Insurance According to Financial Experts
Reference: The New Lexicon Webster’s Encyclopedic Dictionary of the English Language, Deluxe Edition
Reasons Why Health Insurance Not Free For All
Because Insurance is a Business
Think about this, if health insurance will offer for everyone as “free”. Do you think the government can help each and everyone if we need money to use in the hospitals or to pay a doctor? Insurance companies are paying taxes in the government. Assuming almost hundreds of its citizen are claiming for a health benefits, how come do the government can give them all the benefits.
Insurance companies are helping people if there is a sudden financial loss due to accident and illness. Health is a very expensive thing, people are willing to pay a lot of money just to stay healthy and sometimes pay money just to stay alive, therefore, insurance is a big business industry.
Due to Risks
Everywhere and any seasons of life has its “risks”. Different types of risk are encountering by many people everyday. If a man is not ready, he will find difficult to recover financially. The insurance companies could help the insured man in any unexpected events such as accidents.
Expand Your Knowledge: Learn how much is a life insurance would cost you and study the different types of insurance.
I think that’s the major reasons why health insurance not free for all. Thank you for reading this article. Keep on visitng InvestmentTotal, subscribe to its newsletter by email to receive updates easily.
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See Also: 5 Major Reasons for Unclaimed Life Insurance Benefits
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