Are you currently being hospitalised or there is someone you know is? If you are being protected by your existing medical insurance, you are doing good though. But, have you heard of hospital income insurance? Even if you already have a set medical insurance plan, you can purchase it to add up to your current plan. If you are looking for renewable hospital income insurance policy Malaysia for your current situation, please do so. It is very helpful especially if you do not have a fixed income. We will discuss more in this post.
An Introduction to Hospital Income Insurance
You probably have read a bit of explanation about this insurance. You might want to find out more about it. Technically, a hospital income insurance is a type of insurance plan that would cover the insured income by supplying a specified amount of money for every day that the insured is hospitalised. This policy can be purchased by anyone, but it is a lot beneficial to those who do not have a fixed income or lost their income due to the reasons they are hospitalised. In simpler words, it means that you are being helped to cover the hospital bills while you are not working and you don’t have to get your money from your emergency fund or so on.
How To Know If I am Eligible?
If you are currently being insured by a medical plan and are unsure about your eligibility, no worries. This policy can be used as an addition to your existing plan or you can just purchase it solely on its own. If you are hospitalised and do not have a backup income, you are eligible for this plan. Normally, the age of the insured can be as young as 14 days old to 59 years old. Most of the time, most of the insured are those who do not have a fixed income, as mentioned a couple of times before. If you are one of them and are in the age range, feel free to purchase this plan because you are eligible to do so. As for the policyholder, you have to be at least 18 years old and above. But no worries, if you have your parents or your guardian, they can be the policyholder.
Benefits of Hospital Income Insurance
Just like other types of insurance plans, hospital income insurance too has its own benefits. They have been mentioned before, but to be clearer, these are among the benefits. It helps you to get covered for the days you are at the hospital. You probably have been covered by your own medical plan, but this policy as an addition, it helps more to cover your income during your days being hospitalised. The medical plan itself is enough, but you will gain more benefits with this policy. So, is it worth investing in this policy? Depending on the individual itself, if he or she wants to get more coverage than the current medical plan, it is advisable to do so.