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How Can a Critical Illness Insurance Plan Back You Up at the Time of Crisis?

Posted On : 03 March 2021, 3 Years Ago. Health-Insurance

Being struck with an unexpected crisis such as getting diagnosed with a critical illness can destabilize your life and finances. Hence, it is smart move to ensure that in case of such an emergency you have a financial safety net. A critical illness insurance plan can act as a protective measure, which can pay the insured a lump-sum on diagnosis of a critical illness such as heart attack, cancer, stroke and so on. This coverage can be utilized by the insured and their family to manage the various health expenses associated with such diseases that can easily become burdensome. These expenses can include treatment, surgery, medicinal and after-care expenses, to name a few.

 

It is important to do sufficient research by comparing plans before committing to one. There are several factors that need to be taken into consideration, such as premium cost, total sum assured, and critical illnesses covered.

 

Here are a Few Aspects of Critical Illness Plans that can Help you in a Difficult Time

 

1. Extensive Coverage for a Number of Serious Illnesses

Usually, critical illness plans offer coverage for these major ailments: stroke, kidney failure, cancer, heart attack, organ transplant, coma, multiple sclerosis, liver disease (end-stage) etc. Such an extensive list of illnesses can provide assurance to the insured that they have their bases covered in case of a diagnosis. The list of covered illnesses may vary from one plan to another.

 

2. Affordable Premium

Getting a critical illness insurance cover can be economical, as you can get a considerably large cover sum for a relatively low premium. Additionally, buying a policy at a young age can help as it would become difficult to buy this policy after any critical illness happens.

 

3. Coverage for Pre-Existing Diseases

Certain critical illness insurance plans may also assure coverage for nearly all pre-existing diseases once the waiting period has passed.

 

4. In-built Coverage

Besides financial coverage for life-threatening diseases, some insurance companies may also offer in-built benefits such as personal accident cover, hospital cash cover, child education benefit and so on.

 

Additional Benefits of Critical Illness Insurance Plans

A critical illness plan provides a lump sum payment on diagnosis of critical illness which can help covering the medical expenses incurred during treatment even if the patient is treated in a foreign country; this can help the patient avail the best possible medical treatment for them. This cover can also act as an income replacement for the family, removing some of the pressure on their finances. Most importantly, a critical illness insurance policy puts the insured and their family at ease and gives them some much-needed peace of mind.

 

Conclusion:

One should always weigh all the involved factors before finalizing a critical illness insurance policy. These factors would include the amount of the sum insured, coverage amounts for specific ailments, the policy coverage and the limitations, the age of the insured person and the waiting period clause. Overall, a critical illness insurance cover is a smart way to protect yourself and your loved ones from the uncertainties of life.

Secure your health with comprehensive insurance plans from Niva Bupa

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Whom are you buying for ?
Myself Icon Individual
Wife Icon Husband & Wife
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I authorize Niva Bupa to call me. This will override your existing registry in DNCR. I want to get my quote and policy details on WhatsApp.
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