Difference Between Health and Life Insurance Coverage in Canada and the US

Life insurance in Canada and the United States are surprisingly similar. In both countries, you can get Term Life Insurance or Whole Life Insurance. Life insurance in Canada is offered by many companies, just like in the States. And Canadians can choose between several different policy types, depending on their needs. In both countries, it is advised that people who are fit and young, purchase a Term Life insurance policy. This sort of policy is usually inexpensive and it expires without paying out the policy if the insured survives until the policy expires. In the States, it is not uncommon for an insurance company to offer to discount the price of a new Term Life or a Whole Life policy when the initial Term Life policy expires.http://www.southernparty.org/protecting-your-freedom-how-to-find-out-someones-phone-number-that-called-you/

This allows the policy holder to remain insured more easily. How Much Insurance Do You Need? Before deciding how much insurance to purchase, it is important to take stock of your monthly bills, your debts and whether you would be leaving behind young dependents. All of this information will help you decide how much and what type of insurance policy to purchase. Difference Between Health Care Coverage in Canada and the US For a long time, Canada and the US had similar health care systems.

Then in the 1960s and 1970s, Canada started to switch their system and the US continued with a mostly private-based health insurance system. One of the huge differences is that the US spends a lot more on health insurance than Canada, almost double the cost per person, as a matter of fact. There have been a lot of comparisons between the two healthcare systems, especially since Canadians have a longer life expectancy and a lower infant mortality rate than the US. And despite the lower cost of healthcare in Canada, Canadians seem to have better outcomes than US patients.

Many people call Canada’s health insurance system “socialized medicine” but this is incorrect. The Canadian government provides financial assistance for both private and public delivery and physicians and hospitals are part of the private sector and not a part of the government. However, in the United States, federal funding of health care is strictly limited to federal programs like Medicare, Medicaid, CHIPS (for children), and Veteran and government hospitals for the military.

Anyone outside these programs must purchase private insurance. Many times, some of the cost of private insurance is offset by employer contributions. In the early 2000s, more than 50% of US citizens had access to health insurance through their jobs but that percentage is shrinking. Access to Healthcare

Life Insurance

Canada and the US have both struggled with providing access to healthcare to all of its citizens, but the issues are different. In the US, almost 40% of Americans don’t have adequate insurance and in Canada, as much as 5% of Canadians can’t find a regular doctor.

However, in Canada, every Canadian is covered by the national healthcare system. But in the US, the elderly, poor, disabled, and children would be left without health care if it weren’t for the Emergency Medical Treatment and Active Labor Act. However, EMTALA only covers emergency situations, not regular healthcare or treatment for chronic diseases.

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