What You Should Know About Short Term Health Insurance

By Georgina Clay

If you want to take advantage of short term health insurance, you should consider knowing the basics first. You do not want to purchase anything without fully understanding the benefits and features. As what you can guess from its name, short term insurance policies are those that provide short term insurance benefits or temporary solutions to people who need them. The market for this insurance policy usually includes people who are transitioning from one important event in their life to another.

Generally, these short term policies last for one month to six months, depending on your needs. You can also renew the insurance policy for a total of three years. Since the period is short, processing of application also takes a short time. Some insurance companies process their clients’ applications within one day. The process is very simple and easy and you can use your credit card as a mode of payment.

If you want to know other basic information and details about short term health insurance, you should read the following paragraphs.

* There are different kinds of people who need short term medical insurance. The similarity among these people is that all of them are on a kind of life transition. For instance, people who are currently unemployed need this kind of health insurance policy to protect them while they are out of job and still looking for one. Other people who need this include newly hired employees, new graduates, early retirees, and people who are waiting for their standard health insurance to get approved. If you are one of these people, you might also need a short period health insurance.

* Since these insurance policies are short term or temporary, the premium is usually low. The insurance policy holders are less likely to be sick or get involved in an accident in a very short period of time. The insurance company thinks that there will be few claims from their customers. This is also because the customers are people who are currently in a financially unstable situation. Most of these people cannot afford to pay high premiums because they are unemployed or they are in a temporary situation.

* Coverage of this kind of insurance policy usually includes hospital care, tests, prescribed medicines, doctor visits, surgery, and some mental care. Make sure that you fully understand the coverage before you purchase short term policy insurance. You do not want to end up with an insurance policy that will not give you the benefits that you need. You have to know that this is only for your temporary needs. If you want to get long term benefits, then you should consider getting a standard health insurance.

It is important that you know these things before you decide to purchase an insurance policy for short term solution. You should also learn about these things before you decide to quit your job, retire early, or do something that will make you unstable financially. It is important to make wise decisions especially when it comes to your health.

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