Critical Illness Insurance
Quite often people confuse critical illness insurance with normal health insurance but, it is quite imperative that you opt for both as we cannot tell when we will require either one of them.
The major difference between the two revolves around the fact that health insurance policiescover the basic illnesses but, should you face an illness like cancer, a stroke or any other critical illness, your normal health insurance will not be able to provide you with any coverage during this time.
Common Illnesses Insured
While these illnesses are common, they are not to be taken or treated in a light manner. This is why you need critical illness insurance. Here are a few of the common illnesses:
- Heart attack
- Stroke
- Cancer
- Organ transplant
- Paralysis
- Blindness
- Disability
- Terminal illnesses
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Why Do You Need Critical Illness Insurance
1. Coverage
The type of coverage that you will receive with critical illness insurance is the type that you will be most grateful for at the time of your need. For example, a simple kit of the medication required for breast cancer can cost anywhere between $3,500 and $7,000.
With life and critical illness insurance quotes, you will not need to worry all that much about the bills you need to pay as your insurance plan will cover a major portion of it.
2. Benefits
Unlike health insurance which only covers hospitalization and perhaps outpatient care, critical insurance will have your back right from the day of your diagnosis. You do not require admission to the hospital but, can also get coverage for your daily/weekly visits.
3. Various Illness Schemes
Various plans have been put together that even help coverage of these incidents that you might face.
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- First heart attack
- Open chest surgery
- Open heart replacement
- Repair of the heart valves
- Loss of speech
- Deafness
- Third-degree burns (major)
- Liver disease (final stages)
- Lung disease (final stages)
- Dialysis due to loss of kidney
- Brain disease
- Paralysis
4. Better Health
As the days past and we become more tech-savvy, sadly, the number of people who are faced with critical illnesses are increasing on a wide scale. These types of illnesses can leave one completely drained, health-wise and income wise. While your lifestyle changes, you may find yourself facing a permanent disability. The count of serious illnesses is escalating every day. Acute illnesses also mean that you will need more than just willpower to survive.
Quite often the financial burden can bring on MAJOR bouts of stress and anxiety. The combination of this stress, anxiety and the illness you are facing is in no way healthy for your body. This could result in an increase of the growth of your illness. To avoid this problem, it would be best to opt for a good critical illness insurance premium that will have your back.
Exemptions
Like other types of insurance, be careful to read the fine print before taking up a policy. Most policies include these exclusions:
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- Waiting period of 3 months, during which time, if diagnosed, you may not claim insurance until your waiting period is through.
- Should your diagnosis state that you will not survive more than 30 days from bing diagnosed.
- Smoking, alcohol, and drug abuse illnesses
- Maternity illnesses and surgeries due to childbirth and pregnancy.
- HIV/AIDS
- Any man-made calamities like war and terrorism
- Dental care
- Cosmetic surgery
- Treatment for infertile couples
- Treatment outside the country
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Make sure that even while you are choosing the cheapest critical illness insurance premium, you are also ensuring your other health needs by opting for a health insurance premium as well! You never really know when you may need either one of the services provided by these two insurances!
