I'm not very well informed about the Insurance Industry you will understand my desire to know the differences (if there are) between Health and life insurance. Is there clear distinction between the two or can they be used interchangeably? Please inform...
Of course, they're different. One is for health - going to the doctor, paying for medicine or labwork, and going to the hospital. Life insurance is something that pays out to your heirs if you die.
Thanks alot for the response. It is simple and clear. I now know the difference and thanks once more!
but some time life insurance also cover some part of health insurance because when you injured life insurance also provide you fund but up to a limit which decide by the company with its client....
Here is one difference. Life insurance seems to be legitimate for the most part, while health insurance is absolutely barbaric. They say that people die who do not have health insurance. Well people die who do have it when major claims get denied, because people will then stop getting treatment. People are also afraid of the co-pays and deductibles. So as a result, people are afraid to go to the doctor or hospital.
Both types of insurance are, in a sense, 'bets.' With life insurance, you are betting you are going to die and the insurance company, who is taking your bet (and your money) is betting you won't (so they don't have to pay. With health insurance, you are betting you are going to have health problems and the company is betting they will be minor enough to allow the company to keep most of your money, if not all of it.
