You never know what life holds for you. Honestly, there are a lot many things if one’s life worse than the death.
Life is uncertain at every moment and the only way you can deal with these uncertainties of life is by being prepared for them. They say, “Hope for the best and prepare for the worst.” A health insurance policy ensures the well-being of your family as well as of you each time you come across a medical emergency.
A medical insurance policy with additional coverage for critical illness could be a blessing for if you were diagnosed with a critical illness very recently. Being honest, a bad health is nothing but a curse that makes one’s life miserable. This could be the last thing one would like to wish for in their life.
You might have an estimate of the coverage your health insurance policy promised you to offer, which many individuals usually don’t. However, you can’t be sure enough about the special coverage your policy has to offer in case a critical illness in detected. A comprehensive health insurance policy along with the additional health coverage by your employer might just not be enough in case you had a stroke or heart attack, or in need of a major organ transplantation, or are diagnosed with cancer, etc.
Simply put, even your comprehensive health insurance policy has a limit on its coverage, such as room rent, doctor’s consultation fee, etc. All you’ll have to do is make the payment out of your own pocket for additional expenses.
Important: A critical illness insurance policy allows you to claim only once; the policy terminates automatically after a claim.
It’s prudent to purchase a critical illness insurance policy at the right time. However, you must evaluate a policy before buying it, typically in terms of coverage and extent of coverage. Mentioned below are some key aspects as the checkpoints to look for before paying for a critical illness insurance policy:
It becomes quite difficult for almost anyone to purchase critical illness insurance when they’re not sure about the extent of coverage they may need in the future. The right way to calculate your insurance needs is to combine your present and future needs, as there is no point of spending extra from your pocket when you can choose to add coverage in your insurance policy.
Since the medical treatment costs are increasing at a high pace, it’s prudent to purchase adequate insurance cover and save on the additional expenses.
A critical illness insurance policy comes with certain exclusions just as any other insurance policy. Listed below are a few such conditions:
Important: Make sure you read the policy wording for the detailed information on policy exclusions.
Cancer Insurance Cancer is a dreadful disease in which the body suffers unregulated cell division and growth. There are over 200 types of cancers. The leading type of cancer among men is lung cancer and among women is b...read more
Diabetes Insurance Plans in India It is an irony that, though India is classified as “the diabetes capital of the world”, only a handful of insurers have come forward to specifically address the insurance needs of d...read more
Health insurance has become an important constituent of insurance portfolio of an individual. All health insurance companies offer various types of health insurance plans to cater to every health insurance need of an ind...read more
Critical Illness Policies cover the policyholder from various contingencies like Cancer, Stroke, paralysis, coronary artery bypass, etc. Kidney failure is also among the illnesses covered under a critical illness policy,...read more
Health Insurance for HIV Positive Patients in India Since the last decade, HIV/AIDS has spread in epidemic proportions in India. At present, this nation bears the world's third largest number of HIV/AIDS-affected indivi...read more