Steve Oke Chapchap Market
June 2, 2019
Important Of Getting Health Insurance in Kenya Read Reasons Below
Why Health insurance in Kenya Matters
Is there any good argument against the fact that your health is your single most important asset in this life? Good health is such a foundational matter in life since without good health, it becomes difficult to achieve any important goal. This simple, yet profound fact is the driving force behind an ever growing health insurance sector not just in Kenya, but the entire world in general. So, what are the most significant reasons why you need to consider health insurance for yourself, your family, and your dependents?
Health is irreplaceable
Unlike the vast majority of things in life, health is one of the truly irreplaceable aspects. A lot of attention is currently dedicated to encouraging healthy life habits because doctors have known that it’s better to keep in good health rather than to try fix it once broken. Some of the key sources of threats to our health include hereditary illnesses, communicable diseases, and lifestyle diseases. In addition to these threats, there is also always the risk of accidents occurring, accidents that may have short or long term implications to our health. In all these cases, a good health insurance policy can be the help we need should our health start failing.
The number of people taking up health insurance in Kenya has been on the rise. Two key trend are responsible for this. First, more companies are bundling health insurance as one of the benefits they give their employees. This is in effect increasing the number of Kenyans with a health insurance cover. The second trend is the emergence of low cost health insurance policies that offer basic cover for policyholders. The low cost covers are in line with the hugely influential role SMEs are playing in the Kenyan market. As such, the cost of medical insurance is affordable because there is always a policy that can meet the health needs of any person in the country.
On a different note, the affordability of a health insurance kenya should be evaluated against the value of one’s health. It turns out that what may seem expensive at first, is actually an affordable component of the health insurance.
Finally, you need to have a health insurance plan for the reason that accidents happen, and accidents can have detrimental effects on your health. As already discussed above, germs and genetics are not the only threats to our health. A freak accident can also lead to loss of health. In some cases, managing your injuries after an accident can be a very expensive affair. A good insurance policy will help you to get back on your feet as you work to get back to good health.
It earns you a tax relief
The Kenyan tax procedures assures you of a tax relief of 15% on the premiums you’ve paid per annum. This goes to bring down the cost of medical insurance by that much. If you spend Kshs 50,000 on premiums for a health insurance policy in one year, then you will get a tax relief of Kshs 7500.