ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Personal health insurance (or a family floater plan in case you have a young family) is worth investing in as its coverage can be customised and the scope of this coverage is more extensive.

Detailed explanation-2: -Health insurance is a contract that is made between an insurer and an individual or a group where the insurer agrees to provide health insurance against certain types of illnesses to the insured individual or individuals.

Detailed explanation-3: -By getting insured, you have the ability to prepare for anything that may happen in the future-be it illness, hospitalization, retirement, or even death. You can think of it as fool-proof protection for you and your loved ones-much like how a body armor protects a soldier during the most threatening situations.

Detailed explanation-4: -Health insurance policies cover hospitalisation costs and some even offer a daily hospitalisation allowance. However, keep in mind that health insurance policies often have certain restrictions and conditions that must be met before such coverage is offered.