When married it seemed a good idea to have health insurance, especially as my three children were born and expenses were covered. There is an initial period clause which says that any hospitalization claim will not be admissible in first 30 days of the policy commencement apart from accidental pre-existing diseases or conditions are also not covered immediately after you purchase a policy.There is a waiting period ranging from 2 years to 4 years as per the plan conditions in the industry.
The trick here is that, the insurance company works on a principle, wherein it charges each insured person such an amount of premium that the collective premiums received from all (total number of) the insured individuals is enough to cover the cost of paying out on some of the policies each year.
First of all, if you can get your health insurance through your employer, then chances are that that is going to be the best deal for you financially because your employer is going to be paying part of that cost and usually, insurance companies give good discounts for many purchased all at once.
The former offers a fixed interest rate on your investment, while the latter offers a variable one, whose returns are entirely dependent on securities which the insurance company invests in. The rates offered are entirely dependent on the insurance company you buy it from and may be adjusted according to your age and life expectancy.
If you cannot afford health insurance, there are also government assistance programs out there which will allow you to get coverage without having to pay for it. You have to meet certain income and family requirements, but if you do, this can be a great alternative to going without coverage.