What is the difference between life insurance and health insurance?

Want to proceed with hiring your new insurance? Contact the insurance brokers at Poupança no Minuto. To understand which solution is most advantageous for you, between life insurance and health insurance, read on to learn the difference between the two insurances.

What is life insurance?

Life insurance aims to ensure the payment of expenses for a policyholder and their family in case of death, illness, or accident resulting in disability.  

In other words, this insurance covers the risk of death, disability, and also unemployment. In the event of a claim, the insured person receives the agreed capital from the insurer, as a way to cover their expenses.  

Even if the insured survives the accident, if they are left with a disability that prevents them from earning income, they can activate the life insurance.

But there are different life insurance modalities, for example, the insurance that covers only the risk of death, insurance that also covers the risk of survival, and the life insurance associated with housing credit, with different capitals.

What is health insurance?  

Health insurance is a product that protects against risks related to the provision of healthcare, depending on the chosen coverage.

In other words, it can cover costs for tests, appointments, outpatient clinics, hospitalization, services related to medical expenses, resulting from accidents, illnesses, among other causes.

You can access health insurance through two types of reimbursement systems: one where the policyholder pays the expenses directly and is later reimbursed, and the system where the insurance company directly pays for clinical procedures. You can also choose a combination of both systems.

What sets insurance apart are the coverages.

So, it is easy to understand that what distinguishes life insurance from health insurance is the coverages.  

While life insurance can cover death and disability, health insurance ensures coverage for more common medical procedures.  

Now, let's see:

Life insurance coverage

• Coverage for death;
• Coverage for Absolute and Permanent Disability (IAD) - illness or accident resulting in a disability of 80% or more (vegetative state), requiring third-party assistance, preventing the insured from earning income through work.
• Total and Permanent Disability Coverage (ITP) - illness or accident resulting in a disability of 66% or more, preventing the insured client from carrying out their professional activity or any other.

ITP coverage is more comprehensive, so it ends up being more expensive. In the event of a claim in these situations, the insured amount is paid to the policyholder or, in the case of death, to the beneficiaries (usually, the family). insurance capital.

Health insurance coverages

• Outpatient (appointments, treatments or accidents);  
• Hospitalization (admission, surgical interventions);  
• Stomatology (dental medicine or maxillofacial, orthodontics, prosthetics);
• Delivery (admission, delivery, medication, transportation);  
• Serious illnesses (with additional capital for hospitalization and outpatient care);  
• Follow-up after hospital discharge;
• Inclusion in the network of contracted service providers.
• Inclusion in a network with areas of osteopathy, psychology, acupuncture;
• Online consultations
• Home assistance.
• Second medical opinion.

Some health insurances may also cover death, but specifically by accident.

If you are looking to hire one of these insurances, or even both, turn to the service of insurance brokers Poupança no Minuto. They have been with you since day 1, providing free and personalized service, so you can rest assured and protected with the hiring of your new insurance.