Is health insurance worth the cost in Nigeria?

According to Dataphyte, only 3% of Nigerians have health insurance. The reasons for the low penetration include low standard of living, lack of skilled personnel, inadequate access to information, and poor knowledge of insurance.

We know healthcare in Nigeria is expensive, and health insurance can reduce the cost. In this blog, we explain why health insurance is worth buying in Nigeria. From the benefits of coverage to the differences in premiums among different providers, this will give you all the information you need!

Pros of Health Insurance

There are many pros to having health insurance. For one, it can give you peace of mind knowing that you and your family’s healthcare cost will be covered during any sickness, illness, or injury. It can also help you budget for your healthcare, as you will know exactly how much your insurance will cover and can plan accordingly. 

For employers, offering health insurance as a benefit to employees can be a good way to attract and retain talent. Having health insurance can help improve the population's overall health by ensuring that people have access to preventive care and treatment for serious conditions, without worrying about the cost implications.

Is Health Insurance worth the cost in Nigeria?

The simple answer is yes. First, when you consider that healthcare is expensive in Nigeria, and people are exposed to basic sicknesses, having a health insurance plan is a good way to plan for your health care. So, when sicknesses, illnesses or injuries occur, you can visit the hospital without worrying about how to pay.

Secondly, different types of health insurance covers different types of health care. There are micro health insurance plan and comprehensive health insurance. Each has its benefits and costs, and you must decide what you need based on your budget. You will always get value for your money.

Third, you need to understand that health is wealth, and the simplest way to preserve your health is through health insurance. It is straightforward. You can sign up for a health insurance plan today and start enjoying it immediately.

Finally, health insurance can allow you provide health care benefits to your family members or even your aged parents. There’s always a suitable plan for everyone.

So, if you are wondering if health insurance is worth the cost in Nigeria. The answer is yes. Consider the fact that you may not have cash to pay at the hospital when you are sick, but if you have health insurance, your only worry is how to get to the closest hospital to you.

Conclusion

The bottom line is that health insurance is a vital part of our lives and that’s why you should get a health insurance plan for yourself and family members. You can always look for an affordable health insurance plan to avoid paying high costs when you go to the hospital. No one likes to think about what could happen if they became seriously ill or were in an accident, but it is important to be prepared for the worst. Health insurance is worth the cost.