Health insurance is one of the most important things in our lives. Whether a purchase is good or bad, everyone should know how it works and what it is. Health insurance is more than just a convenience; it protects you from financial loss. If you still can't manage your expenses, you can borrow money from family and friends or take out a loan. All of this can have a serious impact on your current financial well-being and your long-term goals. Health insurance can help you avoid such consequences of rising costs for quality health care. Gone are the days when insurance companies only offered basic coverage. Modern health insurance companies now offer a wide range of health insurance. For example, most insurance companies now offer individual insurance and family floater plans. You can protect yourself with an individual plan, but you can protect the health of the whole family with a family floater plan. Besides these two common options, you can also find other types of health plans such as ULHP (Unit Linked Health Insurance), Critical Illness Plans, Group Health Insurance, Accident Plans and Sickness Benefit Plans. With so many options available, you can choose the policy that best suits your needs. One of the biggest benefits of health insurance is cashless billing. Most top insurance companies these days have extensive lists of network hospitals nationwide. Health insurance plans also include a bonus component called NCB. Health insurance is usually renewed annually by paying premiums. However, if you do not apply for the entire year, you are eligible for NCB. This NCB benefit is also available on auto insurance plans. However, there are significant differences between NZB car insurance and health insurance. NZB cuts annual car insurance premiums. However, for health insurance, NZB offers higher coverage for the same premium. There are also different types of benefits available with health insurance. Add-ons increase your premiums slightly, but they can help expand your plan's coverage significantly. For example, many health insurance companies exclude some serious illnesses, such as cancer and heart disease, or do not cover treatment after an accident. You can purchase supplemental serious illness or accident insurance to ensure that your policy also covers such exclusions. Another important benefit of health insurance is the security it provides. Purchasing health insurance can give you a lot of peace of mind, especially if you have a family floater plan. With health insurance, you don't have to worry about medical expenses and can choose the best medical care for you and your family. Quality care can speed recovery and get you back to good health sooner than you think. Most health insurance companies have waiting periods of up to 2-3 years, even for pre-existing conditions. If you already have health problems such as blood pressure, diabetes, or thyroid when you get insurance, your medical bills will be paid after a waiting period. This is one of the biggest disadvantages of health insurance because you still have to pay medical bills even if you have health insurance. This is another reason why you should get health insurance when you are young and healthy. However, some insurers now have shorter waiting times.