Do You Really Need Health Insurance?

“Accidents happen.” This has to be one of the most common insurance tagline used by providers. Village Insurance Direct breaks down the facts to answer the question, “Do I really need health insurance?”

A Quick Comparison

Hong Kong is recognized as having among the highest private medical costs in the world after the US. Comparatively, an ear infection, a broken bone from a fall could see you spending up almost US$9000 in Thailand, but in Hong Kong will cost more than US$15,000.

Because you need to protect your assets…

Whether it’s your life savings or what’s in your bank account. Because if you don’t have insurance when you do fall ill or have an accident, the main priority is to protect your assets. In places like Hong Kong you can see your assets dwindled from a case of bronchitis.

Knowing that if something were to happen you’ve got someone to take care of not just the bills but the whole process. For example, if you’re dealing with a sensitive issue like a family member falling ill, and dealing with the stress and emotions of coping with that, the last thing you want is to be on the phone with finance departments. Working with an insurance company eliminates all of that stress because the claims team takes over those responsibilities. So you can focus on either getting well yourself or taking care of your loved one when they’re sick.

When all else fails, there’s repatriation.

When there is a need to fly you out for treatment, having health insurance will ensure that you get the help you need as soon as possible. Emergency evacuation can be that thin line that saves your life or a family member’s. When you are not in your home country, having the right kind of insurance to cover you is the best investment you’ll thank yourself for having.