Health loan is a type of loan or financing designed specifically to cover healthcare-related expenses. These expenses may include medical bills, treatments, medications, surgeries and other health services. Health loans may be offered by a variety of financial institutions, including banks, credit unions, and specialty finance companies. They offer borrowers the ability to finance expensive medical care without having to dip into their savings or jeopardize their financial situation. As with any type of loan, it is important to understand the terms and conditions of the health loan, including interest rates, fees and repayment terms.
Health loans can be used to pay deductibles, co-payments, and other medical costs not covered by health insurance.