Public awareness about the importance of health care and medical insurance is increasing every day and the demand for health insurance coverage is too. Youngsters are aware of the benefits of health insurance plans and they are actively purchasing insurance plans to live a safe and secure life.
Your health insurance policy will not cover you against the expenses incurred due the treatment of critical illness. Unfortunately, many of us think that our health insurance plan will cover the critical illness expenses, whereas it will not. For any such medical condition it is very important to be covered under a critical illness insurance plan. Importance of Critical Illness Plan Generally, youngsters are considered healthy, but due to unhealthy life style and eating habits youngsters are more prone to critical diseases. For this reason, it is essential to be covered under a critical illness plan to deal with such situation strongly. Most of them ignore the importance of coverage offered under critical illness. Unhealthy lifestyle is causing several health disorders, for example, cancer, heart disease and diabetes. These health problems are increasingly affecting young individuals under the age of 35 years. Medical conditions such as juvenile diabetes that affect children are also rising. The growing health problems are the result of the change in lifestyle. Benefits under Critical Illness Plan Critical illness health insurance plans are designed to cover the specific medical condition and providing a safety net against critical illnesses such as cancer, heart attack, paralysis, organ transplant, kidney failure, bypass surgery, stroke etc. Generally, sum insured option under critical illness health insurance ranges between Rs.1 lakhs and Rs.10 lakhs. Critical illness treatments need higher costs therefore insurance company offers higher sum insured options Following are the features of critical illness health insurance plan:
Your basic health insurance plan will cover you against the expenses incurred due to hospital bills, but it will not offers additional benefits like a 2nd opinion for the type of treatment for the critical illness, will be very useful. Critical health insurance plan covers much more than just hospitalization bill and provides multiple benefits to its policyholders. If you are the primary earner in your family and you need medical treatment for any critical illness and you are not allowed to go office or work. In this case the financial need of the family will suffer, but being covered under a critical illness cover ensures that you and your family meets the regular needs and avail treatment, without any financial crisis.
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Life is uncertain anything can happen anytime. Personal accidental insurance plans help you meet the medical emergency requirements arising out of any unfortunate event like accident in your life. It covers the risk financial crisis and provides the best medical services during an unforeseen event like accidents.
So having an accidental insurance plan is the best way to live safe and secure life. There is a wide range of accidental insurance plans available in the insurance market, but it is necessary to know, which one will be the best for you and your requirement. If you are looking for the best plan in the market that suits your requirements, all you need to do is read this article which includes all the important things you should know about personal accident insurance plan. 1.) Accidental Death Plan This is the main motive behind buying a personal accident insurance plan. Almost every accidental plan covers accidental death. Within 90 days from the date of the accidental injuries, arising out of an accident the insurance policy pays the sum assured to the nominee. 2.) Permanent total disability This means the policy also provides coverage, in case of permanent total disability/ unable to work/ not able to earn for the entire life due to disablement. The person who loses the sight or limbs is also eligible for this coverage. The terms and conditions under the policy differ from policy to policy, so make sure you read the detail of the policy carefully, such as inclusion and exclusion of the policy. 3.) Permanent Partial disability This plan covers the certain percentage of the total sum assured under permanent partial disability. In case the policyholder suffers from permanent partial disability due to an accident the amount will be paid to the policyholder or nominee within 90 days of the unforeseen events like an accident. It is only eligible for the person who he or she is suffering for the continuous period of 6 months. In case the person dies before the claim settlement the sum assured will not be paid. 4.) Child Education Benefit It is only applicable when the children are covered under the plan. It pays 5% of the sum assured or Rs. 50000/- whichever is lower in case the policyholder dies or becomes totally permanent disable. 5.) Miscarriage Cover In case the insured person meets an accident that arises the situation of miscarriage, it covers the situation as it pays the certain percentage of sum assured to the policyholder. If the delivery condition arises because of accident it will be covered by an insurance company under your plan. 6.) Funeral Cover In case, the policyholder dies because of the accident the insurer pays an amount of 5000 for funeral expenses. Family and individual both are covered under the plan, for individual it is 100% of sum assured and for spouse it pays 50% and for children, it pays 20%. 7.) Eligibility A person aged between 18 years to 65 years is eligible to apply for this plan and children aged between 5 years to 21 years are covered under this plan. These plans are issued for both individual and family, the family plan includes spouse, children, and dependent parents. 8.) Renewal Make sure you look for the renewal of the policy. It should be a quick and easy method, try to opt for the online medium. Make sure it provides some grace period to renew the policy. |