You may be having a medical insurance plan that protects you in case a medical emergency strike. Considering the rising risk of falling prey to lifestyle diseases, having a health insurance plan is a prudent decision. But do you think it is enough to meet the current medical expenses with sky-high inflation rate? If your answer is ‘No’ then it is the time to consider making another financial buffer via critical illness health plan.
It is tough to find the best critical insurance policy, with a plethora of insurance plans have been introduced in the Indian market. It is essential to choose the best critical ailment plan to ensure you and the family are protected from financial hindrance during a medical emergency or being diagnosed with a critical disease. But before buying a critical illness plan, you should be acquainted with the policy and its benefits. Previously, this policy covered six critical illnesses including cancer, heart attack, kidney failure, organ transplant, coronary artery bypass graft surgery. But, now insurers have started introducing plans that cover a maximum of critical illness. In this article, we discuss 5 reasons why you need a critical illness cover. Avail Lump Sum Amount for Critical Illness With a critical illness plan, you can avail lump sum amount on the diagnosis of a critical ailment. This way you are covered to pay the hefty medical expenses incurred during the treatment. You may not be offered with this facility in cashless mediclaim policy Read more about insurance stuff Influences Fixed Financial Liabilities Every individual has some fixed financial liabilities including a utility bill, home EMI’s, school/college fee etc which can’t be ignored as it may disrupt your daily schedule or affect your credit history. While an emergency arises, your financial planning tends to affect intensely. Getting a lump sum amount in this regard from critical illness plan may restrain you from being bankrupt. Out-of-pocket Medical Costs Some medical treatments apart from being expensive cause some out-of-pocket expenses incurred by you. For example, treatment for heart transplant done in a place that requires you to travel or relocate for a couple of days. This by any means poses extra expenses and these expenditures are not covered by the stand-alone mediclaim policy. Here comes the critical illness plan in the picture! Sustain Normal Lifestyle You generally used to of a defined lifestyle that our pocket can afford. You embrace that lifestyle depending on the earning. A sudden medical emergency, which incurs outstanding medical expenses, may obstruct the lifestyle you subsist, due to a dent in your pocket. Buying a critical illness plan you can eliminate these stress, as you will be reimbursed for the expenses you make during the treatment. Resume Pre-health Condition Quickly It is necessary to have a financial back-up if the main earning member is diagnosed with a medical emergency which is life threatening. With a critical illness plan, which covers your medical expenses, you can resume good health status shortly. When you remain stress-free financially, another family member can concentrate on your fast recovery. Otherwise, considering your physical condition, family members may have to seek for an occupation to support the family financially. If your financial worries are taken care externally, you can focus on your speedy recovery. Analysing these points, we can sum up the critical illness plan as an asset, which ensures complete peace of mind if any medical crises arise. However, the number of critical illness covered in a plan may differ plan to plan. Hereby, you have to be careful while purchasing a plan keeping the requirement of yours in mind!
0 Comments
Leave a Reply. |